REAL ESTATE

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DUE DILIGENCE

Due diligence plays an important role in ensuring real estate transactions are conducted with transparency. To evaluate the legality and financial value of the acquisition, we will perform an audit which includes the following activities:

  • We will review the title of the property to ensure that its stated layout matches the Cadastre. In addition, any potential encumbrances such as usufructs, attachments, and mortgages will be looked into. Depending on the property's location, public water and roads are also taken into account. Furthermore, we shall investigate the property's registration with the Land Registry, searching if any leases are applicable.

  • Our goal is to uncover relevant details that will allow the buyer to understand if the property he/she is looking at is situated in a zone of architectural preservation. If this is the case, it may prevent the buyer from altering the exterior or the structure of the property.

    To achieve this, we will compile and assess the corresponding paperwork: planning documents, ITE reports, layouts and photos, legalisation bulletins relating to the property and the building log.

  • This audit will determine the exact worth of the property, enabling us to establish the amount of taxes needed to be paid for the acquisition and sale of the property. Furthermore, we need the former owner to provide us with the history of IBI tax and owners association fee in order to ensure that all expenses are current.

PRE-AGREEMENT & DEED

  • When the decision has been made to purchase real estate, a pre-agreement (contrato de arras o contrato de reserva) is usually signed. Furthermore, the buyer pays a deposit to reserve the property. This contract outlines both the buyer's and seller's intentions with the property.

    In the pre-arranged deal, we will specify the time at which the official transfer of the property will be completed.

  • During that time frame, we will acquire the relevant papers to formulate the deed. The deed will be put together by a Notary.

REGISTRY & TAXES

The deed will be entered into the Registry of Properties, and the identity of the new owner will be included.

Then, we will assist you with completing the forms necessary for paying taxes.