PEACE
OF MIND THROUGHOUT THE PURCHASE PROCESS OF PROPERTY IN SPAIN
Chartered
Surveyors and legal consultants providing independent and professional
property services in the inland regions of Spain. The UK property
purchaser is now seeking character properties and country retreats
in the rural and mountainous areas. Places such as Extremadura and
the Alpujarra Mountains in the south or Rioja and Asturias in the
north.
We
provide a full range of property consultancy services for the property
purchaser and seller in Spain. As members of the Royal Institution
of Chartered Surveyors and also regulated by the same governing body
the RICS,
our professional team comprises qualified personnel with full professional
indemnity insurance backing.
If
you are considering buying in Spain then it is important to ensure
that all the proper checks are carried out prior to purchase because
in Spain the system for purchasing property is different from
the one in the U.K. The sale contracts in Spain can be signed at an
early stage and many people do sign too early.
The
terms of the contract to purchase a property in Andalucia, for example,
will differ from neighbouring regions. Sign what may appear to be
an innocent piece of paper registering your interest in a property
and you could be committing yourself to a purchase you can ill afford;
fail to take the appropriate advice and you could find yourself in
legal and financial problems.
Whether
you are purchasing a new chalet, or an old stone cottage in need of
renovation, or an apartment on the coast, it may have been constructed
without formal regulation and in Spain in particular there has been
a history of varying methods of construction built to differing standards.
Commissioning
a survey
of a property from a qualified surveyor should always be considered
before committing to a purchase. A survey can save you both time and
money and can be used in the negotiating process.
The
most common approach to the purchase process is to agree a preliminary
contract (contrato privado) which should contain a number of routine
clauses including the amount of deposit
to be paid. Once signed, the contract will give the purchaser
certainty in proceeding without the fear of being gazumped and in
the rare cases when a higher offer is accepted after the contract
has been signed, then compensation is due.
It
is recommended that full
searches and investigations be carried out prior to signing the
private contract. Standard
checks include investigating the planning status of the property,
whether or not the seller is the registered owner; and whether it
is being sold free of mortgages or other charges. Checking the property
description and boundaries is particularly relevant in Spain as many
properties are unregistered having been passed down through the family
generations. The formal transfer of the property is made in the presence
of a notario by the signing of the deed of sale (the escritura).
Taking
professional advice will ensure that your investment is sound. Please
contact us to discuss our home buyer and survey packages.
