Time to buy a property? I’m sure if you’ve been through the process you’ll know exactly what we mean when all our friends seem to be experts in the property market.
Everyone gives us advice, tells us about their experience, what they have been told and, although I am sure that many of them are right and do it with the best will, the truth is that there are times when the information is wrong and can lead us to confusion or error.
In our new article we have collected some of these false myths about buying and selling. Do you know of any more? Do not hesitate to write to us and we will resolve them!
I don’t need a lawyer to buy or sell a house
Let’s start with a classic! Although it is true that there is no provision for a specialised lawyer to be part of the process, the reality is that having a specialist in buying and selling property who knows the local legislation can avoid costly mistakes and ensure that the whole process is done correctly. This includes the very review of contracts, handling the transfer of ownership and even assisting with all tax matters and new property registrations.
All contracts and their different clauses are standardised.
This is not the case. Although it is true that there are standard contracts and that many of them are similar, all clauses can be changed and renegotiated. At this point, we recover the importance of having a specialised lawyer to review and modify any of them to protect our interests.
Clarification on the news published on the Spanish Government’s intention to tax non-EU residentsSpanish Government’s intention to levy 100% property purchase tax on non-EU residents.
In the last few weeks, news related to possible governmental possible government measures to regulate the purchase of property by foreigners in Spain have captured the media’s attention.
Although these statements may cause concern, it is important to analyse the situation calmly and put it in perspective.
The announced proposals, which include restrictions or levies on the purchase of property by non-resident citizens in Spain, are still at a preliminary stage.
What does this mean? First and foremost, that neither the process nor the proposed measures are that simple or feasible.
Before becoming a reality, all of them will be subject to an intensive legislative process that does not conflict with European regulations and international agreements.
So, for the time being, there are no immediate changes that should be of concern to foreign owners and those contemplating investment in the Spanish market.
However, should you have any queries, we invite you to contact MAM Solicitors and we will try to help you with any questions you may have.
MAM Solicitors, 30 years of experience and professionalism at the service of our clients.
At MAM Solicitors we have more than 30 years of experience in helping our clients in their buying and selling processes, especially those who live abroad.
We have a multilingual team of lawyers who specialise not only in all legal aspects of the comparative sale and purchase, but also in the legislation in force in the autonomous communities in which MAM Solicitors’ offices are located.
If you would like us to have accredited professional experience or to act on your behalf through a power of attorney, please do not hesitate to contact us.
