The Full Conveyancing Service. Explanation of the purchasing procedure. Once you have decided on a property and agreed a price a small holding deposit will be taken to prove your interest and willingness to purchase. The first thing is to obtain a "Nota Simple" from the land registry that will tell us the registered owner(s) a brief description including square meters and whether there is a mortgage or other types of leans and encumbrances. A copy along with a summery in English will be given to you. Once this is to our satisfaction a formal private contract is drawn up detailing terms and conditions of the sale-purchase and time frame. This will be in English or will be verbally translated to you. Further searches are also to be carried out and documents prepared for the next step, these include certificate from the Community Management/President if part of a complex, rates, and services. At the end of the time frame agreed in the private contract a Public Deed of sale-purchase is drawn up and signed in the presence of a Public Notary, we will be with you and will give you a verbal translation, or if you cannot be here for the signing we will act on your behalf. The Title Deed or Escritura in Spanish is the true ownership document. Private documents CANNOT access the Land Registry to be registered. Once this Deed is signed there is a 30 day period to pay purchase taxes. If there is VAT (IVA) on your purchase this is paid on or before signing at the Notary. If you purchased off a non-resident and a withholding tax was applied there is a month to pay this. To offer the full guarantees that the Law provides this new Public Title Deed in your name should be registered in the Land Registry, we recommend that the taxes and presentation at the Land Registry our carried out within 10 working days after the purchase. Once the Deed enters the Land Registry for inscription the time for it to be registered and returned varies from a month to up to three depending on the registry in question. Once registered we collect and hand to you. After signing at the Notary and with a copy of your new Title Deed, the following transactions must also be carried out: Notification to Rates office. Notification to Community if part of one. Change of Name and Bank details of connected services. Payment of Plus Valia if down to purchaser. |