Property Transactions

Land Registry search

The first step to purchasing is to conduct a search on the land registry to ensure that the property or land being purchased matches that on the land registry and to verify that the vendors are the legal owners of the property.

The land registry will also detail any charges on the property such as outstanding mortgages, other debts or embargos.

Correct Building Permissions

With all of the publicity surrounding illegally built properties in Spain that have ended up suffering the consequences, we ensure that the property you intend to purchase has been built to a satisfactory standard according to planning and building regulations and has the correct habitation licence.

Utilities

We will assist by obtaining up to date statements in respect of the present owners’ utilities, council tax and community fees accounts.

In Spain debts can be registered against a property, which can result in the property being ‘embargoed’ so it is important that all debts are cleared prior to purchase completion at the notary.

Local Searches

As part of our service, we can conduct searches with the local Town Hall to see if there are any planning applications lodged which could affect your property. For example, this could be a neighbour’s property that is planning building works that may affect your view or block your right to light.

Off plan purchases

Off plan properties are growing again in popularity since recovery from Covid-19 began and can be considered a secure purchase if the correct checks and procedures have been carried out.

M1 Law can assist through every aspect of the conveyancing process. We will carry out searches to ensure that necessary facts are in place such as:

• Doing a deep dive on the developer to confirm that they are the legal owners of the development plot, are a registered company and have the correct building licences.
• Request all floor plans and drawings that have been prepared by an official architect
• Confirm all financing all the bank and that relevant insurances are in place to protect the purchaser
• Confirm timing estimates of the development build

Property Survey

To prevent purchasing what could be a costly mistake or an expensive repair job, we can arrange a pre-purchase survey.

Surveys will include information on any defects found on the property and any potential legal issues. Satisfactory surveys mean that you can proceed with your purchase in confidence. Any defects listed in the report can be considered in your decision to proceed with the purchase or negotiate on price.

Purchase Contract and Deposit Payment

Once an agreement has been reached between the seller and the buyer, we will conduct all of the documents to process the transaction and arrange the private purchase contract.

An option contract will stipulate the terms and conditions from the time a 10% deposit is paid to the seller until the transaction is completed. Terms may include the buyer losing any deposit should they decide not to proceed and claiming back twice any deposit paid should the seller pull out.

NIE

We can offer a service to help you obtain your NIE (Foreigners Identification Number). Your NIE is the unique number used to identify you as a taxable subject and must be included on all public documents issued in Spain.

The NIE will need to be obtained prior to signing the purchase deed.

Energy Performance Certificate

We can arrange the Energy Performance Certificate which serves to inform buyers about the energy characteristics, consumptions and features of a property and recommends any improvements that could be made to make the property more energy efficient.

Spanish Bank Account

In order to buy a property in Spain, you will need a Spanish bank account to conduct the transaction. An account can be easily opened by an individual needing only a passport or equivalent identity card.

Completion Statement

When formally completing on a property in Spain, the Sales Contract (Escritura de Compraventa) will need to be signed by both the buyer and the sell before a Notary Public (Notario).

Once the contracts have all been legally certified by the Notary Public, the agreed sum is paid and the property is transferred into the name of the new owner.

If you are unable to attend the signing at the final appointment, we can represent you and sign on your behalf by granting us Power of Attorney.