Buying a property in Spain can appear to be very complicated, but in reality it is very similar to purchasing in any other Country. The main difficulty is the language barrier, which can be easily overcome by utilising the services of professional companies & multilingual Solicitors.
Once you have found your ideal property, your Agent should be able to provide you with all of the information & details your Solicitor will require in order to proceed with the sale.
Properties in Spain are liable for several payments & it is important that your Agent provides you with this information. Debts may be passed onto you if they ARE NOT settled prior to the completion of the sale. Some of the most important liabilities are detailed as follows:
LAND REGISTRY PROPERTY SEARCH (NOTA SIMPLE): Using the registration details (inscripcion) from Deeds (Escritura), your solicitor will arrange for property search (Nota Simple) from the Land Registry. This search will show full history of the property, together with any mortgage charges, debts or any other encumbrances on the property. This document would normally be applied for, when you pay the deposit & again prior to completion
SIGNING THE TITLE DEEDS (ESCRITURA): When you reach your completion date stipulated on your purchase contract you will be required to pay the balance of the money and sign the Title Deeds in front of the Public Notary. The Notary is an official witness to the sale & will ensure that each party has sufficient legal authority to buy or sell the property; he/she will also inform you of the actual situation of the property in respect of any debts, charges or encumbrances. This information is supplied to the Notary directly from the Land Registry.