Anyone who buys an investment property located in England or Wales is likely to entrust all legal issues associated with the deal to a solicitor. This could be a specialist conveyancer or an general practitioner however, in all cases, an independent, qualified legal advisor safeguarding the interests of the buyer. Only those with prior experiences with property purchases and a thorough understanding of the law governing property should consider conducting their own transactions and even then it is no sense to take on the task. This is because when you engage the services of a solicitor, not only can you be sure your purchase is conducted professionally, but in the event that an expert adviser is negligent and causes the buyer to suffer damages it is recommended to have an insurance policy for professional indemnity to compensate for the loss.
The same principles apply to purchasing a home in Spain. Before making any payment whether to a seller or for an estate agent,, you should employ an experienced Spanish lawyer to guide and guide you through the process to the acquisition.
It is important to consult an expert Spanish lawyer prior to paying the initial deposit on a house in Spain
If, in the process of purchasing a home in Spain and you make a payment prior to receiving advice, you could lose the amount of money you have paid if you don’t follow through. If you live in England or Wales there is no need to pay any money for an estate agency in order to make sure that the property is removed from the market. In fact, you’d be astonished by an estate agent who asked you to pay.
No matter if you are you are in England or Spain A deposit only made once your lawyer’s independent has conducted thorough inquiries and informed you. If you choose to proceed, you swap contracts, and then make a deposit payment while simultaneously agreeing on the completion date. Your solicitor concludes the purchase and then pays the final funds and makes sure that you are registered to purchase the house under your name. This is the procedure that should be followed in order to ensure that you purchase what you intend to purchase and avoid mistakes made by those who depend on the word of a seller or estate agent whose sole goal is to close the sale and get the proceeds as well as any fee.
This is the suggestion we provide to all our clients who consult us before they locate the Spanish property they want to purchase. However, some follow through with the deposit payment with an estate agency in Spain prior to receiving advice from an independent source. They are advised that they don’t need to seek advice and in that an estate agent as well as the Notary will take care of their interests, and that Spanish citizens do not require lawyers when purchasing properties however when they do decide to hire a lawyer they are able to use one that is introduced to them by their estate agent.
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Why should I choose an attorney for my purchase of a property in Spain?
It’s true that Spanish citizens do not employ lawyers when buying property, but it is due to the fact that Spanish lawyers are not able to perform the same work as solicitors. Spanish attorneys are lawyers, therefore it’s not sensible for an Spaniard to hire a lawyer for the purchase of a property that is not contentious. Naturally, it would make sense not to hire the services of a lawyer recommended via the estate representative that is selling the property, since almost certain, the lawyer is inclined to ensure that the sale is completed regardless of the circumstance, especially since the lawyer is dependent on the estate agent to provide regular clients.
The importance of the Notary for your purchase of a property in Spain
No matter what you hear, Spanish Notaries do not represent the interests of the buyer. They are impartial. Their mission is to make sure that the documentation for completion that is signed in the name of or by behalf of both the buyer and the vendor has been prepared in accordance with the law and that the parties have the authority to sign it , and have adhered to the rules governing money laundering as well as other laws. The Notary’s role is not to provide advice on the advantages of buying the property. Although you may feel certain that everything will be handled in compliance with the law because the Notary will be in the process but if you don’t get independent advice and go to the Notary’s offices along with the estate agent as well as the seller there is a significant chance that one or more aspects of the transaction may not be explained to you in full. This is usually due to the fact that it is not in the interest of the seller to make you aware of the transaction.
In Spain Estate agents in Spain are not controlled. They are free to make whatever they want to you in order to draw your attention in the property. However, when you sign a document at the Notary’s Office declaring that you are aware of what you’re buying The entire details of the purchase are outlined in the document. If you claim later that you were enticed by the buy due to misleading claims that the estate agent made cannot be a guaranteed way to cancel the contract in the same way as it would be the case in England as well as Wales. There is no legal action regarding professional misconduct that can be brought against an estate agent as they aren’t legally regulated. If an independent opinion was not sought, there is no legal claim against a legal professional.
The role played by the estate agent is to assist you in the process of completing the purchase of your property in Spain
However it is the case that when Brits go to Spain they tend to believe in anyone they can comprehend, in the sea of Spanish natives. Thus, the English native estate agent has an advantage because they appear to be the “friend” who the British buyer has been searching for, it is the solution to their needs. It is important not to fall into this trap. Although certain Spanish real estate brokers are extremely credible and reliable professionals, it’s not an indication that you can be relied on.
Professionals in the field of property who work in Spain will convince you the notion that “Spain has its own distinct characteristics” and that is true with regards to sangria, sun and sea however, not in the purchase of properties. Make sure you don’t forget your mind while traveling and get independent legal advice from a specialist throughout your Spanish purchase. It’s not expensive and will provide you with the security and security you require when purchasing property in a country with that has a language, culture, and laws that you might not know.