Buying / Selling a property in Spain
BUYING A PROPERTY – What can we do for you?
Our Spanish Lawyers offer all the services that you need to buy your property. For example:
- Drafting a reservation
- or down payment agreement
- Reviewing a purchase contract
- Verifying that the seller is able to pass good title
- Registry search to ensure the property is free of any charges or mortgages
- Ensure outstanding taxes on the property are fully paid before the transfer
- Make sure that all items are included in the sale (fixtures and fittings etc.)
- Attendance and assistance when signing the deeds of sale
- Verifying that the property complies with all local zoning laws
- Payment of stamp duty (sales tax)
- Registration of new title with the land registry
SELLING A PROPERTY – What can we do for you?
Our Spanish Lawyers specialize in Real Estate Law. Our Spanish Lawyers can help you with:
- Drafting of a down payment agreement to Protect the Sale
- Reviewing the title deeds to ensure that all documentation is in order
- Checking all the Powers of Attorney
- Communication with the buyer
- Attendance at the office of the notary for the execution of the deed
- Liaison with the Notary to ensure all necessary information is conveyed
- Securing payment of purchase monies to your nominated account
- Managing the payment and reclaim of any taxes upon a successful sale.
Usually, before buying a house in Spain, the seller asks the purchaser to enter into a pre-purchase agreement (in Spanish, “contrato de arras”), signed by both parties, and whereby they agree to several obligations.
In most cases, before the deposit is paid, real estate agents request a signature of a reservation, which can constitute an act of good faith for several occasions, and which can also entail some mutual responsibilities. In Barcelona, the standard practice is that the real estate agent requests a signature at the beginning of the transaction.
Both documents become binding contracts for the parties.
Because of that, before the execution of the contract, or during its negotiation, it is essential that a Spanish lawyer advices the purchasers to help them avoid making fatal mistakes which may lead to the loss of the money paid as reservation or deposit.
Property transactions come with many nuances; a Spanish lawyer who knows land law is therefore essential, especially considering that they will assist in negotiations involving large amounts of money.
We recommend you to hire a Spanish lawyer to seek further advice on the matter.
ITE or “Inspección Técnica de Edificios” is a document that allows us to find out about any potential defects in the property.
Our lawyers can ask the seller for the ITE and inform our clients about potential risks inherent to a lot of ancient buildings that can be found in Barcelona. Besides, the ITE provides information about the condition of the building and indicates whether it may have problems in the future.
Some foreign clients give up their right to receive this document. However, we firmly believe that this is a serious mistake.
There are a lot of potential flaws: Some are minor, but others can be manifest deficiencies, which may result in the need for substantial payments to avoid the full or partial collapse of the building.
Do not give up on your rights, retain our lawyers and they will help you defend your legal position as a purchaser.
In Spain, purchase agreements are executed in a deed authorized by a public notary. The notary verifies the legal capacity of the signatories and their identity.
Our Spanish lawyers collaborate with notaries throughout Spain, and they can help you select a notary, who will best meet your needs. Our lawyers can also translate the contract you are about to sign, for you to understand its terms.
Moreover, our lawyers can negotiate the terms of the contract to ascertain that the latter protects your interests.
Also, the purchase agreement must correctly identify the property you are going to buy to prevent unpleasant surprises.
Our Spanish lawyers have experience in the purchase of rural and urban property, and they can help you in the development of specific terms of the contract, as well as for all other preparatory acts.