Consejos Prácticos sobre Documentos

Practical Tips

About the Documentation

The decision to buy or sell a property involves a series of steps and legal procedures that can significantly affect their heritage. We offer have accumulated over 25 years of experience advising our customers on the buy/sell process.

Here are some of the buy/sell documents and procedures that you need to know about:

Agreement of Intent: A document to formally reserve the property with the payment (by the buyer) of a percentage of the total value. It is also called Confirmatory Deposit Agreement as both parties formally confirm their intention to purchase and sell the property

Penitential Deposit Agreement: In this agreement both the buyer and seller are committed to the purchase and sale of property at a specified price and time. This is formalized with the buyer paying a deposit of the total price of the property. In the event that the seller then decides not to proceed with the operation, they must return double the amount received to the buyer. If the buyer decides not to proceed with the purchase, they lose the prepayment deposit.

Contract of sale: Deed in which the seller agrees to deliver the property to the buyer, and the buyer in turn agrees to pay the seller the price previously determined and agreed between the two parties.

Land Registry note: Before you buy a property, it is essential to check that it is free of debts, repossession orders or similar, and that the person selling the property is actually the registered owner. This information is contained in the Land Registry note of the property. (We can obtain an updated copy of this document for your convenience).

Receipt of IBI (property tax): When buying a property you must ensure that the owner has the IBI tax payments up to date - the most recent receipt is usually one of the documents requested by the notary when signing the deed.

Certificate of the home ownership: A certificate issued by the administrators of the building/community to which the property belongs, duly signed and stamped by the president of the building/community. The notary will require this certificate in order to execute the deed of sale.

Energy Performance Certificate: A document issued by a qualified technician (surveyor, engineer, architect, etc..) that confirms the construction characteristics of a building - such as thermal insulation, heating system type, etc. An energy rating is given to define how efficient the building is in terms of energy consumption. It is must for any owner who wants to sell or rent a home. You can contact us if you need to obtain an energy performance certificate.

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