Property Conveyance in Spain
The conveyance of property in Spain can be straightforward, but more often than not, there are situations which arise that can be difficult to solve, especially for the non-Spanish speaker who is not familiar with this type of transaction.
Many of these are due to the Spanish Inheritance Laws, which force an estate to be bequeathed, in the main part, to any children of the deceased. With estates that have been passed down from generation to generation, the number of potential owners can become large, and problems can arise when one or more does not wish to sell or is uncontactable.
Older property may be unregistered, the vendor may not be the legal title holder, or a property may have been built without permission.
Property developers selling off-plan and during construction stage have long and complicated contracts which are usually biased in their favour, and many people who purchase in this manner, without professional advice, are frequently unsure of the full implications of what they are signing.
This is why it is ESSENTIAL not to sign ANYTHING until you have been properly advised. LOOM offer a no-obligation consultation to establish how best we can help you, and will act on your behalf through all of the steps of the transaction, from obtaining the registral details of the property, to sorting out any problems, to dealing with lawyers, developers and notaries, to any necessary administration once you have purchased. We will also help you to contract your utilities and with the community of owners should you require. We want your sale or purchase to be as smooth and problem-free as possible.
The price of the property is not, however, the only outlay to be considered. You may, for example, be required by your lender to have a survey carried out. The property must be insured, and it is advisable to take out some form of life cover. There may be community fees to be taken into account, and the notary fees can be at the behest of the purchaser or the seller, depending on the wording of the contract. LOOM, as the agent in purchase, will always try to minimise these costs to you. There are also taxes to be taken into account when buying or selling, and it may be more beneficial to you to become a Spanish resident. For a brief outline of some of these taxes, visit our taxes page.
LOOM can also help with private rental contracts, from drafting and checking to translation if required, and with mortgage advice.
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