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 SALE PROCESS
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The conveyancing process & how we can help |
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| The study & writing of the purchase contract |
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The first step of the process is to sign a private purchase contract (Contrato Privado de Compraventa) between the two parties involved. If you are selling, since it will be a resale property, the contract will be between you and the purchaser. Never sign a purchase contract with an agent!!!!!! |
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| The contract should include the following: |
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- Full description of the two parties.
- Full description of the property.– inscription number in the land registry.
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Price of the property and stage payment details. It is of vital importance to sign a contract where if the purchaser fails to complete, you do not need to go to court or otherwise the sale of your property will be blocked and you will be in a deep problema. So we highly advice you not to sign a purchase contract without proper legal advice.
Your expert solicitors in Spain will check that all the details are correct within the contract and explain it to you before you sign it.
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| Certificate from the Land Registry & Report |
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Your expert solicitors in Spain would carry out a land registry search to verify that everything stated in the contract was true:
- Establish the current ownership.
- Check that the property is free of debts and other charges.
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Provide certificates to the purchasers acknolowging that the property is free of debts. Specially we would need to provide certificates from Banks (in case there is a mortgage), community of owners , council, electricity and water companies, among others.
Your expert solicitors in Spain will then send a report to you detailing the results of the searches and if there is no problem with them we will instruct you to go ahead with the sale. |
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| Tax advice on the price according to the tax authorities valuation |
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It is of vital importance to know what the tax implications are before selling your property or even before puting it into the market.
We highlty recommend you to ask for tax advice before making the decision on what the price should be.
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| Preparing Power of Attorney |
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This is a simple process where we will send the relevant forms for you to complete. Power of attorney will enable us to complete for the property on your behalf without your being present.
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| Pre-completion checks |
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Just prior to completion we will make further checks on the property to ensure there are no outstanding debts you could be liable for: Council tax ,plusvalía tax electricity & water, and community of owners will all be checked before you sign for the property.
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| Obtaining your NIE number |
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This is a fiscal identification number and is required before you can make any transactions in Spain, such as purchasing a property and paying taxes.We apply for your NIE number on your behalf using the power of attorney.
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| Completion |
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On completion we exchange the balance of the price, ownership and keys of the property. This takes place in the notary’s office.
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| Inscription of cancelation of debts (mortgage) in the land registry |
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After signing, we will present and register the notarised deed (known as the escritura) at the local Land Registry. The Land Registry maintains all the details of the property and records financial charges and other matters that may affect the title. Registering the deed provides the highest public level of protection.
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| Paying taxes |
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From the day of signing we have a maximum of 30 days to pay the tax on the property.
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| Cancelling utilities & taxes related to the property in your name |
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