The Costa Calida, Murcia, boasts over 320days of sunshine a year and is a great place to buy a Spanish home. Its climate, its people, its gastronomy and its landscape, all contribute to an easy adoption of the Spanish lifestyle & culture. We have property available on the Costa Calida, Murcia & other key towns in the area. Moratalla Town and Caravaca de la Cruz are featured in our Arts, Lifestyle & Travel section" ...
We aim to help our readers buy with confidence! Not only by providing an excellent selection of properties,but also by reporting on some of the pitfalls to be aware of. We also let you know about the good things in Spanish life & provide links to the organisations and individuals here to help. Our 'Basic Buyers Guide' gives some good, sound advice about preliminary deposits & contracts, when purchasing a property in Spain
BASIC GUIDE TO BUYING IN SPAIN
The period between signing the contrato privado and the escritura - theoretically between four and eight weeks - a lawyer should carry out all the agreed checks on the property and prepare all the necessary documentation for the finalisation of the deal. You will need to arrange all the finances, so everything is in place to conclude the deal, on the agreed date.
'Contracto Privado de Compraventa'
A preliminary contract is agreed between the buyer & the seller, It commits both parties to the sale. It will contain various terms & conditions, under any circumstances it should certainly state the price, agreed between the seller and the buyer. It should state the names of all parties involved, a description of the property, including its land registry and what happens if the parties break the contract. In most cases this will state the deposit paid is forfeit if you decide not to complete. If the seller pulls out they must pay you double the deposit. The deposit is generally set at 10%
'Condiciones Resolutorias'
The contracto privado de compraventa should contain any appropriate escape clauses. Making clear all circumstances under which you reserve the right to pull and have your deposit refunded. For example, if you are unable to secure a mortgage, the results of the searches are unsatisfactory, subject to planning permission. Most importantly, you should state, the seller must clear all debts relating to the property before signing the deed of sale.
'Informe Urbanistico'
Reveals the planning status of the property, one of the standard checks you should make when buying a spanish property. It shows if the seller is the registered owner and it is being sold free of mortgage. These are also revealed by the nota simple.
'Escritura de Compraventa'
The signing of this makes the transfer of ownership legal, in terms of the rest of the world. This can only take place at the notario.
'Notario'
In Spain the legal transfer of a property can only take place via a notario and whose offices must be based in the area where the property is purchased. The notario prepares the escritura de compraventa. In theory, the buyer chooses the notary, in practice, the seller tends to have a big say over the decision, especially when buying from a developer.
'Registro de la Propriedad'
The property register. The Notario is responsible for the property's registration and charges fees to the vendor and purchaser, according to the schedule set by the government.
'Registro Catastral'
The tax register. The Notario is also responsible for the property's tax registration and charges fees to the vendor and purchaser, according to the schedule set by the government.
'Comunidad de Propietarios'
If you are buying in a villa or apartment complex, chances are you will be buying into a 'community of owners'. It has no impact on the ownership of your own property. It is a legal mechanism through which all the owners in the development band together to manage and pay for common facilities, like, communal swimming pools, lifts, parking areas, external lighting, shared gardens, Each comunidad has a committee which must hold an annual general meeting. You will have your own rules - reglementos - covering everything, from use of the swimming pool to whether pets are allowed or not. It also charges fees - which may fluctuate considerably, depending on how much maintenance work is required on the site - for which all owners are responsible, as stipulated according to the size of your property.
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