The process of buying property in Spain
Despite its apparent simplicity, it is better to entrust the experienced and knowledgeable representatives of Ibizahouserentals Real Estate agency in Spain with the procedure of buying.
The Company will always help you to purchase the property in Spain since they have both experience and the necessary knowledge.
Before you enjoy the magnificent views from the window of a private villa in Spain, you will have to fulfill a number of conditions according to laws of this country. Otherwise, if you carry out the procedure of buying property in Spain incorrectly, it can be a valid reason for termination of the transaction.
Before putting the signature under the contract of sale, the experienced lawyers advise the seller and the buyer to make a preliminary agreement.
It includes several important points:
The participants of the transaction are the buyer and the seller (the owner or his representative, the developer). If the owners have purchased several units of Spanish property, the agreement required the signatures of all (including a legal spouse).
An information paper must accompany the financial history of the acquired property. It indicates whether the object is not in the pledge, and there are no other encumbrances that preventing the transfer of rights. The new owner can order a similar statement in person at of the Registry property or remotely via the Internet.
There must be the absence of debt on utility bills. There is a risk to buy the debt for an electricity and other benefits of civilization together with the Spanish real estate.
It is important to make sure that the seller has no tax arrears.
You should consider the amount of the transaction. The preliminary agreement should specify the final amount of the transaction. In addition, it should prescribe conditions for obtaining the transfer of funds and the amount of bail. It makes sense to negotiate the registration costs too.
A deposit guarantees the obligations
When some of the issues with the signing of the agreement are resolved, it is possible to make an advance payment. If the transaction does not take place because of your fault, the advance completely goes to the seller. In the event of failure to continue cooperation, the deposit is returned to you and the sum is doubled.
In the local police department, the new foreign owner must obtain an identification number and open a bank account. A contract of sale is signed in the presence of a lawyer, and it is registered within three months in the relevant public institution.