If you wish to purchase a Real Estate property in Spain, it will probably be one of the most important investments you and your family will carry out in your life. The Real Estate Agency will help you look for the house you wish to buy, offering different purchase possibilities in accordance with your wishes and necessities. If you wish it can also provide you administration services for a possible mortgage finance, the signing of the deed of sale, administration and payment of the taxes, submission and registration of the deed in the Property Registry, etc.
Before deciding to purchase and signing the vesting assent or contract, it is convenient that a professional in laws, experimented and who you trust, advices and informs you. Good advice will give you security and tranquillity. Your lawyer will help you confirm and verify, among other, important aspects such as possible registration, fiscal and urban conditions of the property you are willing to purchase.
What you should take into account before signing the deed of sale.
Take into account that before signing the contract it is important to check legal aspects of the property, such as:
1. The actual ownership of the property and its status of loads.
This information can be verified in the Registry of Property, through a simple note, which will provide us the name of the proprietor or proprietors of the property and the existence of loads such as mortgages, embargoes, etc. Be aware that only who appears as the proprietors of the property on the Property Registry can sell the property.
2. The urban situation of the property.
This information can be verified at the town hall, by requesting information about the urbanistic qualification, so you can check that the property you are willing to purchase is not affected by any urban plan nor by any urban infraction.
3. That there is no lessee in the house.
You must check there is no lease agreement or situation of occupation which can complicate the use of the house.
The deed of sale of a property.
The public deed of sale will be the last step which will end the purchase of the house, receiving at that moment the keys to the house which give you the possession and so you turn into the new owner. The intervention of a notary will provide you tranquillity and certainty, because he guarantees the legality and accurateness of the operation.
The notary advice, in relation to the deed of sale, will be very helpful and will no increase the cost of the deed. The notary carries out an important labour of impartial advising, regardless who required his intervention, he drafts the deed in accordance with the common will of the both signing parts, gives guarantee and certainty to the content of the document which will be signed, offers legal advice if asked and looks after the weakest part.
The law imposes to the notary a series of obligations in benefit of the buyer, such as the control and revision of the documentation, proof that the building is up to date with community payments and the IBI (real estate tax), identification and capacity of the signers, requesting a registry note before the signing of the deed, presentation via telematic means of the deed in the Property Registry, verification that the house is up to date with the payment of the costs of the community where it is located, etc.
In conclusion, when you decide to purchase a house, it is advisable to get advice from a lawyer you choose and trust, of a Real Estate agency and/or a notary. Your lawyer will help you with all the verifications before the purchase and to prepare the public deed of sale. The notary, for its part, will guarantee the verification of all the necessary documentation so the purchase ends correctly and that the seller is in legal conditions of transmitting the property.