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In this article you can expect to understand simply all the legal procedures that are performed by lawyers in conjunction to buying a property in Spain.
Knowing these variables, you can navigate the legal procedure you will encounter once its time to purchase your home.
Metalux works with in-house lawyers to simplify this process by having experienced and licensed professionals take care of the procedure. However, you may also appoint your own lawyer or legal council.
Steps in checking Title deed about ownership –
- Verifying Property details
- Consulting Property Registry to ensure there are no debts/mortgages
- Land Registry – proving ownership and exact details of property
- Check the validity of the escrow account
- Verify 1st Licence of Occupation necessary for rental licence and construction licence.
- Documentation in order to obtain utility contracts
- Energy Performance Certificate Mortgages, leases, rentals
- Encumbering the project
- Community of Residents/ Homeowners association statutes – need to validate for rental properties
- Purchase Agreement – ensuring all the documents are in Spanish and must be checked and explained to the purchaser.
- Covers potential fraud risks through complete due diligence about the property
- Covers warranty clauses and repair terms with related penalties Introduction of penalty or termination clauses for failure to comply with construction terms or other contractual obligations.
- Civil Liability Insurance on legal escrow accounts up to 600.000€ mandated by the bank.
Others activities delegated to a lawyer
- Signing the Title Deed in front of the notary public, on behalf of the client
- Payment of the invoice at the notary’s office and collection of official documents from the notary’s office
- Payment of property transfer tax Registration of the property at the Land Registry in the name of the new owner
- Obtaining the certificate from the Land Registry
- Obtaining the Digital Certificate on the basis of which the owner registers with the public administration and utility providers Payment of the Land Registry invoice
- Change of Holder / Drafting the contract for Water and Electricity, IBI, Garbage
- Registration in the Owners Association
- Obtaining the rental license
- Escrow services for foreign money transfers where necessary
If you choose to appoint a lawyer the cost of service usually is 1.21% including VAT of the total value of the purchase. With Metalux, our agents can help you in most steps but only when instructed by yourself will we engage the services of a dedicated lawyer for you.
Typically, the necessary legal procedures will be managed by our agent for you without additional costs.
Once you have been given all documents you may choose to get a second opinion from a lawyer. In reality, appointing a lawyer is most beneficial when the purchase is being made remotely, or via 3rd parties of the buyer. In this way, all the steps are done for you without the need for you to be physically present.
Nevertheless, you may still want a lawyer if you are physically present. Ultimately this a choice based upon the complexity of the deal or natural preference.
If you have any questions on the legal process you may consult our legal team without cost by reaching out to us directly.
