PROPERTY BUYING CHECKLIST:
1. Check who the owner is. If it is not the owner the person who signs must have a power of attorney.
2. It is very important to check if the property is free of charges, mortgage, or tenants via Land Registry.
3. Community fees - review the Letter from the administrator.
4. Price and payment
5. Selling fees: There are fees related to the purchase negotiation and include:
- Municipal Taxes: Paid by the Seller
- Notary fees: negotiable
- Registration fees: negotiable
6. Check if the property has any penalties at the town hall
7. Check the urban situation of the property via Catastro and townhall - whether in the future there are any urban projects in the area.
Cadastral data: Descriptive and graphic cadastral certification that will be incorporated into the deeds to verify the coincidence or discrepancies between the cadastral data, the Property Registry and the real situation.
Additional checks before you sign the deeds:
- Energy efficiency certificate: The notary will ask the seller for the energy efficiency certificate or a copy of it.
- Cedula de habitabilidad. There are Autonomous Communities that require the seller to deliver to the buyer the valid habitability certificate. This is important in order to get the utility contracts.
- Verification of payment: The notary will verify and record in writing how and when the house has been paid.
Warning of hidden defects
- The notary will advise the seller of his obligation to pay the municipal plusvalia.
- The Seller has to pay the IBI for the year and present the receipts for the last 4 years.
- Only for non residents sellers:
Retention in the sales price of a dwelling, while the buyer is obliged to retain 3% of the declared purchasing price if the vendor is a non-resident
- Retainer of the the plusvalia and Ibi
After transferring the deeds
1. Pay the corresponding taxes 10%.
2. Register the purchase in the Property Registry.
The deed can be submitted to the Registry of the Property by the notary. The deed may also be submitted to the Property Registry by a copy authorized by the notary on paper.