Tips for the Sale

Closing the sale

If you have agreed on a price and payment conditions, the first thing you need to do is sign the purchase agreement. This should be accompanied by a registration note, issued by the registrar for the property, specifying that it is free from charges (no pending mortgage payments or encumbrances) and showing the features for the property and its current proprietor.

down payment and deposit

In the event of purchase of the property, the agreement is usually accompanied by a down payment, which is then discounted from the total cost of the property or deposit.

Before signing the contract, be sure that it complies with the following formal requirements:

• The parties must be correctly identified: the seller (private or company) must give his or her name or business name, ID or NIF, address and, failing this, his or her representative with power of attorney.
• Latest receipt from Property tax and Certificate of Conformity proving he or she is up to date with all payments on the property (light, gas and water)
• Registration note specifying the features of the property or even accompanied by plans, and which shows the name of the owner.
• This should also show the price in both numeric and written form. Specify the down payment amount to be paid in both numeric and written form.
• Also specify the terms of payment (monthly, etc.).
• Seller’s title deeds.
• Community legislature.

More information

Tips for Buying Your dictionary

Public Deed

This document officialises the contract and any agreements reached between the parties and will be signed by a notary, to verify that everything set down in the contract is legitimate and carries no lack of consent, as well as to guarantee the capacity of the parties.
The additional documents required from the seller are: ID, title deeds, latest receipt of Property tax and the community of owners certificate to prove the seller is up to date with Instalments.

This documents will then be sent to property registration to give publicity to the documents and to the purchase and to verify the change of ownership. This registration in our legislation is compulsory.