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Buying or selling property in Spain

We have been providing expert conveyancing services along the Costa del Sol for many years, helping clients with their property purchases and sales in Spain. Most of our clients are international, so we understand your needs and offer you peace of mind.

We will handle everything from property checks to final closure (propery checks should be done before you pay any realtor fees to hold a property and before you make a down payment).

What are some pitfalls in buying a property in Spain?
  • The property is not registered. This is most likely because it was illegally built. Many unregistered properties are being sold to foreigners, since foreigners are less likely to check the registry office. Solution: Get a registry listing (Nota simple) ....
  • Several agents are involved. Besides the possible difficulties, each agent may be getting a comission. Solution: Ask the agent for their contract with the owner.
  • The property could be encumbered with unknown charges. Mortgages, local taxes, community fees ... any of these along with other unexpected charges need to be verified before signing contracts or handing over fees.
  • The property was sold to more than one buyer. Yes, this can happen. Either there is an intention to defraud, or a better offer was recieved and the previous one not cancelled. If there are two buyers, the first person to register the property at the Property Registry Office gets the purchase. The other buyer has a right to indemnization from the seller in addition to a return of any deposit paid. If a pre-agreement was signed, a "Contrato de arras", then there is a right to receive double the deposit.
  • The new property is delivered late or with defects. Sometimes developers sell properties before they are built or completed. After closing, it is not uncommon that the property is completed long after the agreed upon time, the new home is delivered with changes to the original plan or there are important defects detected. Solution: the contract must establish a completion deadline. If the deadline is not met, the seller agrees to return all payments that the buyer has made, including interest plus additional costs caused by the delay. Once the buyer has signed the contract, the description and architectural plan has the value of a contract. If it is the buyer who makes changes to the plan, these should be put in writing. If the property has defects, the developer is obliged to repair them. In such cases, we recommend hiring an architect, who can help determine the importance of the defects and the cost to fix them. Also, the developer should provide you with a bank or insurance guarantee.
What information should I recieve from the real estate agency?

For new constructions, you should get:

  • A registry listing (nota simple) of the full plot of land.
  • The CIF and full name of the construction company.
  • The construction permit (licencia de obra).

For an existing property, you should get:

  • A registry listing (nota simple) of the property.
  • A copy of the deed (escritura).
  • A copy of the receipt for Town Hall taxes.
What are my obligations as a seller?

As a seller, you have legal obligations. It is important that you know these before signing any contract. We can inform you about them, especially those relating to taxes, as if you are a non-resident, it is normal for a retainer to be withheld from you for tax purposes. You may be able to recover some of this payment by filing the correct forms. This retainer is a consequence of the seller's obligation to pay tax on revenue obtained in Spain.

To see what our conveyancing services include ...

Don't hesitate to contact us ...

 

 
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