Buying a property is a really important decision for many people. On the one hand, it is obviously an operation that involves a significant financial outlay and, in most cases, for the long term until the mortgage is paid off, but it also involves a series of legal steps that, if not handled correctly, can lead to serious problems in the long term.
Checking the documentation before buying a property is a crucial step to ensure that the transaction is secure and that there are no problems in the future.
At MAM Solicitors we consider it essential to have the help of a specialist lawyer to help us reduce the risks in the transaction and ensure that we are able to control all the legal and fiscal aspects involved in the property purchase transaction.
In this sense, one of the first steps we must take and for which it is advisable to have a lawyer specialised in real estate law is to check and verify that all the documentation is in order.
Here are the 6 essential steps to check that our future home is completely in order.
- Verification of ownership
The first step in any real estate transaction is to ensure that the person selling the property is, in fact, its rightful owner.
It is vital to confirm the ownership of the property by checking the land registry to verify that the seller is the registered owner.
This will avoid situations where a third party may claim rights to the property in the future.
- Check that the property is free of encumbrances
One of the biggest concerns when buying a property is that it is free of encumbrances, such as unpaid mortgages, liens or encumbrances.
These problems can be passed on to the new owner if they are not detected and dealt with in time.
A lawyer specialising in real estate law can check this information in the relevant registry and ensure that there are no debts or financial commitments that could affect the transaction.
- Checking licenses and permits
As well as making sure that the property is legally registered, it is important to check that it has all the necessary licences and permits, especially if you are buying a new property or one that has been recently refurbished.
Licences such as first occupation or building permits are essential to ensure that the property complies with planning and building regulations.
- Analysis of contracts and conditions
Sales contracts can include clauses that are not always easy to understand.
It is important to have a lawyer who can review these documents to ensure that there are no abusive conditions or terms that may be detrimental to the buyer in the future.
In addition, attention should be paid to deadlines, down payments and any other provisions that could imply legal liabilities for both parties.
- Resolving potential legal disputes
Some properties may have ongoing legal disputes, such as problems with neighbours, disputes over the use of common areas, or even disagreements over property boundaries.
These problems may go unnoticed if you do not conduct a thorough investigation. A lawyer can help you identify these risks and, if necessary, recommend solutions before proceeding with the purchase.
- Avoid real estate scams
In some cases, buyers can fall victim to real estate scams, where the property they are trying to buy does not even exist or is owned by someone other than the person presenting themselves as the owner.
Checking documentation and reviewing all legal aspects is the best defence against such scams.
MAM Solicitors: over 30 years experience and offices in San Javier, Vera and Orihuela Costa
At MAM Solicitors we have more than 30 years experience helping our clients in the process of buying and selling a property.
From the legal aspects of the property, to the resolution of all tax payments and registration formalities, our lawyers specialise in the different laws that apply in Spain depending on the Autonomous Community in which the purchase is made.
From our offices in San Javier, Vera and Orihuela Costa, we cover the areas involved in Murcia, Almeria and Alicante with the local specialisation of our lawyers.
If you think we can help you, please do not hesitate to contact us.
