We will assist you on the
purchase and whether there are any outstanding rates or community
fees.
We will draw up the purchase contract wich will include:
-
The price and conditions of payment.
-
All charges on the property which are the responsibility of the
Vendor
up until the day of signing.
-
A complete description of the property, size in square metres,
with building
licences for extra work carried out, not included in the original deeds.
-
Full registration details of the Land Registry.
-
A clear explanation of payment conditions.
-
A clause verifying the fact that the property is free of sitting
tenants.
-
A complete inventory of furniture if sold furnished.
-
A clause referring to the retention deposit (percentage of the
declared purchase price) which is held back from non Spanish
Residents selling a property for tax reasons.
-
A penalty clause with a specified date for payment and a back
out clause.
The purchase is formally completed when the public title deeds of
purchase-sale are signed before a Notary Public, the agreed payment
of the price paid and the possession given to the buyer.
Four or five days after completion, the deed is collected from the
Notary’s office. With the original deed, all the relevant transfer
taxes are paid in the different tax offices and eventually the deed
is taken to the Land Registry in order to procure formal registration
of the title to the property.
Depending on the Land Registry of the area, registration may take
about 1 month. The Land Registry will then give notice to the lawyer
that the registration has been completed and the deeds are available
for collection. Land Registry fees are paid at this time.
During the interval, as from the moment of signing, the purchaser
can have a copy of the records by requesting from the Notary Publica ‘copia
simple’ |