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Generally seen, the third party protection for your property acquisition is achieved through its inscription without unknown debts and encumbrancies in the Spanish Land Registry. This is the final stage of a long series of activities and procedures with which we will guide you through and which will be explained in the following presentation.
Once that you have found a property that you would like to buy we will draw up List of Expected Costs for the Acquisition and a Purchase Contract in your own language, which is meant to serve as a translation from the Spanish original text on the same Contract.
Particularly with reference to re-sale-situations, this method is used in the international property market that we have here, as often sellers and buyers have no knowledge of the language of the other party (the Contract will then be produced in 3 languages out of the ones that we work in: English, French, German, Spanish and the Scandinavian languages), why for the situation of a litigation the Spanish text is agreed to be the only valid one. In this way lengthy discussions can be avoided about which text to be used by the court.
In re-sale situations, the down payment is often held by us on our client’s account, as it sometimes can be uncomfortable for the buyer to have to pay to the account of a seller he may never have met. We then make a written commitment on the Purchase Contract to be responsible for the payment of the down payment to the seller by the siging of the deeds provided he/she fullfills the Contract and in the opposite situation, we commit ourselves to amount received back to the buyer., we commit ourselves to pay the same amount back to the buyer would the seller not complete on the Purchase Contract, we commit ourselves to pay the same amount back to the buyer would the seller not complete on the Purchase Contract.
To act as either a seller or a buyer in property transactions in Spain it is compulsory to have obtained a Spanish Tax Identification Number, a so called N.I.E.-number. We will assist you in your application for your NIE by the Local Police station, where the NIE-application must be presented and later on also collected.
Being on-line with the Spanish Land Registry we make a search in the Spanish Land Registry to check that the property that you would like to buy is currently correct.
In order to secure the future supply of such services as water and electricity to your property we nowadays have to verify that the property has a Certificate of Habitation (Cedula de Habitabilidad) if it is a new construction, alternatively a Certificate of 2nd Habitation (Cedula de Segunda Ocupación), if it is a re-sale property.
STIFY">In order to secure the future supply of such services as water and electricity to your property we nowadays have to verify that the property you want to buy has a Certificate of Habitation (Cedula de Habitabilidad) if it is a new construction, alternatively a Certificate of 2nd Habitation (Cedula de Segunda Ocupación), if it is a re-sale property that you want to acquire.
If it wouldn’t have a Certificate of Habitation we must contact the local Townhall to find out whether it is possible to achieve the Certificate, as there are some cases where no such document can be achieved due to irregularities when it was built...
Would you need to finance your property purchase with a Spanish mortgage we will assist you both where to find a mortgage as well as to prepare the mortage contract with the lending bank and the Public Notary.
As the Spanish Land Registry is based on the request of inscriptions to be made exclusively upon purchase and sale-documents, so called “Escrituras de Compra-Venta” and “Escrituras de Hipoteca”, a privately drawn up Purchase Contract will be rejected by the Land Registry, if presented. Therefore, we must present all relevant documents to the choosen Notary Office where to draw up the deeds, the “Escritura”.
Prior to going to the Notary we have to do the last check-ups on possible debts to the Owner’s Community, the electricity-, water-, gas- and telephone-companies, which amounts normally will be set off against the sales price.
Once at the Notary Office we will assisit you with the translations and explanations of the Escritura-documents as well as guide you through the procedures how to correctly provide the funds for the presentation of the Escritura to the Land Registry and its inscription there.
The Escritura can be expected to come back inscribed from the Land Registry some 2 months after it was signed in the Notary Office.