| Buying a resale property ------------ Pre-contract searches and enquiries
What should you do when you are visiting a property ?
No buyer should purchase a property without fully inspecting the condition of all being purchased
If the property has lumber room, garage etc. do not forget to visit, check the real gross area and the floor space, visit the property at different hours and at different days of the week
Be careful with possible crack and rising damp.
Beware of properties if the persons who live in does not know anything about the sale.
Get information from neighbors about the other residents in the area.
Which are the basic legal steps for buying a existing property in Spain ?
Searching the legal status of the property, deposit (earnest contract) or/and purchase-sale contract, sign deeds at Notary's office , inscription of the new owner in the Land Registry, Tax
What is the ideal procedure to buy property in Spain ?
It is to do the deed directly, because this can be done in just a matter of hours as soon as an agreement is reached with the seller, and no other kind of document need be signed previously.
What should I do if my estate agent say that he will undertake all the necessary legal work ?
You bear in mind that it doesn't substitute for carrying out the enquiries either yourself or via your practitioner
What searches should you do ?
Seller's title deed, recent Nota simple from Land Registry, latest paid-up receipt for the IBI, cadastral reference, if you are buying a property part of condominium the latest receipt for condo fees and the rules of the condo.
Why do searches ?
Because you will need to find out as much as possible about the subject property before signing any document. |