|
Please note the following is general advice, puchasing in a property in Spain requires professional legal assistance. Contact us today and a qualified professional will contact you to discuss your needs.
To purchase a property in Spain it is necessary to know if the property is registered, “Urban” or “Rustic”, if it is new all the necessary licences and insurances are in place. If it is a new build, the building licences and project has been approved by the College of Architects and the licences have been paid for.
In the case the property is Urban, is an approved area to build, apartments, houses etc. We employ a lawyer specialising in conveyance they will make various enquires to check the suitability and saleability.
A compra-venta will be drawn up usually after a small deposit is paid to reserve the property for a period of time. A purchase contract (compra-venta) is drawn up outlining all they issues. This document shows the information that will be included in the Escritura.
Your lawyer can check all information provided by the Real Estate or Promoter; some data can prove quite complicated.
In Spain there can be various problems, so to have the lawyer to explain things is helpful.
The clients should be informed of the true price by the Real Estate, the cost of purchase, Notary costs, Escritura (purchase agreement or contract), Land Registry, Taxes and Professional Fees.
Once you are aware of this matters and possible pit falls, the next step is to pay a Reservation Fee to prevent anyone else purchasing the property. No contract in any circumstances should be signed without consulting the lawyer. Let him advise you. One reason for this, they can check to see if the property is free of debt.
To own a Property in Spain it is obligatory to have a NIE number, this is an identity number applied for from the “Policia Nacional” (national police) and sanctioned by the “Ministerio del Interior” (equivalent of the Home Office). The number will allow you to open Bank Accounts, apply for loans or buy a property etc. It is necessary to make commercial translation in Spain.
Finally we discuss the signing at the Notary. The buyer and seller will be present, unless one part is represented by a Power of Attorney (Approved in advance of the signing) - this means this nominated person, usually a lawyer or relative can sign on the owner/sellers behalf. The lawyer will again check everything before signing in front of the Notary. Finally one the “Escritura” has been signed the lawyer will arrange to transfer all utilities into the name of the incoming Buyer, the water, community fees etc.
Depending on which area of Spain, the new “Escritura” is normally available within 2-3 months. This will be available from the lawyer with the new owner Legally Registered.
RUSTIC PROPERTY HOLDS COMPLICATIONS!
In cases when you wish to purchase a Plot of Land, or a house on a Plot of Land classified as “Rustic”, the first thing to find out is if the house is Legally Registered. If it is registered to the owner, if the square meters of the Plot reflect what appears in the Registration, etc. In other words, “Is it Legal?” What ever it is, it is complicated!
If you wish to buy a Plot of Land to build a Dwelling, it is good to find out if you are allowed to build in this area.
It is recommended you make enquiries? Check all correspondence before purchasing. The method of the Purchase/Sale is the same for Rustic or Urban explained in this article.
|
