Other Things
To Consider Before Buying In Spain - the Pro's and Con's
Although when done correctly it is perfectly safe, there are
a number of potential pitfalls when buying property in
Spain whether new-build or resale. Most of these revolve
around problems such as establishing ownership,
disputes over the exact area of land
included in a plot and incorrectly registered
properties.
These can all be overcome with persistence but a Spanish speaking
lawyer working directly for you is essential to do this
successfully.
If an estate agent suggests that the Notario (Notary)
will cover all these checks and you do not need your own
solicitor, politely disagree and find an independent
solicitor (not one recommended by your estate
agent).
Glossary of Key Spanish Property Terms
Abogado Spanish Lawyer (solicitor)
Agente de la Propiedad Inmobiliaria (API)
Property (estate) agent
Arras Adeposit/down payment
Caja de ahorros Spanish savings bank,
typically offers mortgages too
Contrato de Compraventa private property
sale contract, signed when the deposit is paid and before
the final public deed of sale is signed
Escritura deeds
Escritura pϊblica de compraventa Title
Deeds [of a property]. Registered with the property registry
and legally binding.
Hipoteca Mortgage
N.I.E. National ID number for foreigners
Nota Simple certificate from the Property
Registry stating whether a property is free of encumbrances
Notario Notary Spanish legal official
whose job it is to ensure that property sales are conducted
in a legally-correct and binding manner
Registro de la Propiedad Spanish Property
Registry
Tasador Spanish property surveyor
Tνtulo de propiedad Title Deeds [of
a property]. Registered with the property registry and
legally binding.
Valor Catastral Value of property
for tax purposes
Read On
Introduction
Easy Guide To Buying A Home In
Spain
Mortgages UK or Spain?
Getting A Mortgage In Spain
Other Things to Consider Before
Buying In Spain
Glossary of Key Spain
Property Terms
Buying Overseas Property
and Mortgages
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