buyers-sellers guide

Buying property in Spain is not as difficult as it is sometimes made out to be, however there are pitfalls as there are when making a purchase in any country. It is absolutely imperative to be guided through any purchase by a local lawyer familiar with your needs or a respected property consultant. Most respectable agents can recommend either a lawyer or property consultant with whom they are familiar, but the choice is entirely yours as to whom you chose to deal with. What matters is that you are comfortable with your chosen representative and that you can communicate with them in your own language. Don´t be afraid to ask questions.

Here at www.costa-sol-tenerife.com we can give guidance and or put you in touch with lawyers and property consultants that speak your language and are used to dealing with foreign nationals purchases in Spain.

Whether you are looking for a small holiday home or a luxurious residential villa there are some simple rules that should not be over looked-:

• Appoint a Lawyer or Property Consultant to guide you through the purchase (your Representative). A few pointers to guide you through and to check with your representative are listed below.

check list

• Ask your representative to obtain a copy of the escritura (title deeds) to the prospective property.
• Check with your representative that a nota simple will be requested from the registro de la propiedad (Property and Land Registry) showing any hipotecas (mortgages) or embargos (legal charges) registered against the property.
• Ensure you or the seller provide your representative with the referencia catastral (the reference number found on the rates receipt – recibo IBI).
• Ask your representative to check and provide a copy of the plan parcial if purchasing a building plot. This will show definitively what (if anything) can be built on any given plot of land.
• You or your representative will need to collect copy´s of the latest electricity (luz), water (agua), rubbish (basura), and telephone (telefono) bills from the seller.
• The seller will need to provide a receipt to show that the community fees (comunidad) is up to date, as well as a letter signed by the community president and secretary stipulating that the seller has no outstanding debts with the community. A copy of the president and secretary´s photographic identification (passport/residence card/DNI) will also be required.
• A contract of sale (compra y venta) in spanish and your own language will clearly set out the purchase procedure. It should include forms of payment, currency of payment and exchange deadline. Your representative should prepare this with the sellers agent on your behalf and explain its detail in full to you.