Major financial transactions, such as buying of residential or commercial property, are concluded only after a thorough inspection of the acquiree. To insure against financial losses, it is required to check the legal purity of the property.
During the execution of the bill of sale, the status of the property object is checked. The presence of encumbrances, debts and loans is stated in the text, a part of the receipts is attached to the case. This audit is included in the task of Spanish notaries.
The examination process of new buildings and secondary housing has different specificity. Let us examine both options.
If you are buying a new property from a developer, we will provide:
- a completion certificate of construction and installation works, approved by a technical architect;
- an act about the technical condition of a residential building (dwelling), which confirms the compliance of the property object with the standards established by the legislation. Subsequently, this certificate will be required for the conclusion of utilities contracts;
- permission for the initial settling in;
- guarantee obligations to eliminate possible hidden design flaws identified in the course of use for a period of 10 years.
To audit resale property, we check:
- Title documents showing that the seller is the owner of the property. It is necessary to familiarize yourself on what basis ownership right was obtained (it can be a notarized bill of sale). If there are co-owners, they will also be referred to in the bill of sale;
- Nota Simple* – this is an official land registry report of the property. This document contains information about the property: type of property, name, ownership, size, rights, boundaries, existing liens and encumbrances. If there are no debts at the property object, the report will confirm the absence of them.
*Nota Simple is a certificate proving your ownership of the property in Spain, which may be needed in event of purchasing a property, obtaining a residence, etc. In our company, you can order the service Nota Simple in Spain. We will complete the order within 1 to 3 days and provide it in electronic form by sending you the document by email.
Important: Nota Simple records the legal status of a property only at the moment and is valid for 3 months. Next time you will have to request this report again.
- Cadastral passport, which shall include the characteristics of the real estate object (legal status, area, plan, location, etc.).
- Contractual obligations under rental of premises, registered in the Register of the Property Owners. By law, as a buyer, you will become the assignee of these obligations until the date of expiration of the contract.
- The charter of the housing association, which regulates the order of operation of the residential building, accepted norms and housing rules (this may relate to possible repairs, re-planning, changes and other features of co-living of residents).
- Energy certificate, which is required to have all properties for sale (both new buildings and resale properties), according to the Royal Decree 235/2013 dated 04/05/2013. This document reflects the degree of energy efficiency of housing. When processing the bill of sale, the fact of having the certificate is verified by a notary. A copy is attached to the rest of the papers.
Also, we request information from the municipal tax office about the payment of property taxes by the property owner. Information comes as of 01.01 of the current year.
Alegria provides real estate valuation services. Entrust all the worries and troubles to our specialists: they will gather all necessary information and check the property «for purity».
This will save you time, money and heartache.
