Pointers on purchasing a property in Spain

Check out this list of factors to do and look out for before you obtain a property in Spain.  The list is very easy to have an understanding of and should be followed with your lawer.  He is the a single who will know where to do the digging for details.  We wish you well and wonderful luck in choosing your spanish dream home.

The Escritura Publica and Nota Effortless

The Escritura Publica is the registered title deed of the property. It is entered in the ‘Registro de la Propiedad', the Property Registry, and is the only guarantee of title in Spain. It consists of a description of the property, the facts of the owner and any mortgages or legal claims that exist against the property. This document is necessary mainly because it tells you if the seller is the owner of the property becoming sold. A nota basic contains further specifics of any mortgages or charges against the property and is also readily available from the Registry.

The IBI receipt

Prior to purchasing a resale (not new) Spanish property check out the ‘lmpuesto sobre Bienes lnmuebles', or lBI, which is the municipal property tax. Ideally, you will be in a position to see the IBI receipts for the last 5 years given that that is the limit of liablity for unpaid back taxes and is attached to the property, not the owner. A new property bought from a developer will not have an IBI receipt (because it has by no means been ‘owned') so it will be your responsibility to register the property for this tax.