When you decide to buy or sell a property, you must take into account several legal requirements to ensure a successful transaction.
At Pollentia Properties, your estate agency in Mallorca we have a team of professionals with many years of experience in the property market and who are experts in the process of buying or selling a property.
Are you thinking of buying or selling a house and want to avoid any unpleasant suprises or incidents in the process? If so, take note of the legal advice on buying or selling a property that we have included on the Pollentia property blog.
Legal requirements for buying or selling a house
Buying or selling a house involves a series of documents necessary for completing the transaction. The most important ones are:
- Property Deeds: this is a document to be presented by the owner of a property in order to be able to sell it and shows proof of who is the current owner.
- DNI or NIE: when the time comes to sign the sale/purchase contract both the buyer and the seller will have to present their National Identity Card (DNI) if they are residents in Spain or their Foreigners Identity Number (NIE) if they reside in another country.
- Power of Attorney: only compulsory if the buyer is physically unable to attend signing of the sales contract and therefore is obliged to designate someone else as his or her legal representative.
- Land register information report: this contains information about the characteristics of the property and the identity of its owner. The owner can apply for it on Internet at the Property Land Register in order toprove that the property has no legal problems pending If the property still has a mortgage on it, the owner has to be in possession of a Certificate of Pending Debt which reflects the exact amount owing when the house changes hands.
- Occupancy Certificate: this document confirms that the property complies with all technical and sanitary requirements necessary for its use as a house. It is also compulsory for acquiring basic services.
- Certificate of Technical Building Inspection (ITE): this document is compulsory for buildings that are over 45 years old and indicates that the building is in excellent condition.
- Certificate of Energy Efficiency: It is compulsory for the owner of the property to present this official document drafted by a registered technician and which includes information on the Energy characteristics of the property.
- Receipts/Invoices: Buying a property that complies to all requirements is very important for the buyers´s peace of mind. With this in mind, it is important, if you are buying a property, to ask for the most recent receipt of payment of the IBI tax on properties and those for all services in order to make sure that they have all been paid before going ahead with the transaction.
It is important to emphasize that if you decide to buy a property in Spain, you should also have a bank account in a Spanish bank whether or not you are a Spanish resident or from overseas.
We can put you in contact with a lawyer to get full legal advice in relation to the purchase of a property, i.e. the due diligence of the property, which mainly includes:
- Examination of the property documentation
- Negotiation and drafting of the necessary contracts and documents to complete the purchase (including the notarial purchase deed)
- Checking the status of encumbrances and charges (and preparing their cancellation if necessary)
- Checking the urban planning status of the property (including enquiries or appointments with the municipality or other authority if necessary)
- Assistance with the issue of the public deed of sale before the notary, oral translation of all necessary documents, representation or signing by power of attorney - if requested by the customer
- Registration or new contracting of utility contracts
- Accompaniment until the complete registration of ownership in the land register
- Support for all suggestions and questions that arise during the entire purchasing process
We can also put you in touch with someone that assists in the calculation and listing of the costs and taxes associated with the purchase (purchase tax, so-called ‘ITP’, notary and land registry costs), which are handled separately by a tax agency.
At Pollentia Properties we can help you with the buying/selling process
If you are looking for your ideal home, don´t forget that in Pollentia Properties we have a wide range of luxury villas, apartments, town houses, attics, country homes and plots.
Furthermore, our team of experts in the property market will help you at every step and will explain to you which documents and legal requirements are necessary in order to buy or sell a property in Mallorca. At Pollentia Properties we will speed up the official process to save you valuable time in acquiring or selling your property. Allow us to advise you.
