First, we would like to differentiate between properties that are acquired directly from the developer or under construction and the properties of second transmission, depending on whether it is one or the other properties referred, we will request to the vendor different documents.
In this blog we are going to focus on Spanish properties of second transmission.
The most important documentation that our office advises to request to the seller or his legal representative before acquiring a property is the following:
- Spanish Land registry certification.
This is a document that contains information taken from the Spanish Land Registry regarding the property in Spain, which includes the identification of the same, the identity of the owner or holders, and the extent, nature and limitations of these.
- First occupancy license in Spain.
It is the document granted by the corresponding Spanish Town Hall that proof that the property meets the requirements of the building license.
- Copy of the previouse Purchease Title Deedn of the property of the current owner
This document allows us to check how the property was acquired.
- Latest receipts of IBI tax and garbage Collection tax.
In addition to checking the possible debts that could be with respect to these local taxes, with the receipt of rates, the So known “Impuesto sobre Bienes Inmuebles” or IBI we will obtain the cadastral reference, which will allow us to calculate the fiscal value of the property in Spain
- Latest utility bills of the property in Spain ( water and electricity bill).
Mainly we will ask for water and electricity bills, it is also advisable to request other possible contracts that the property may have as internet or telephone, in case the purchaser wish to continue with these utility contract.
Requesting latest utility bills of the property, it will allow us to verify that there is no existing debt’s of supplies on the property and at the same time we will be used to make the relevant changes of ownership once the transaction is completed.
- Energy efficiency certificate.
As from June of 2013 this document is compulsory at the time of renting and selling properties.
A Spanish architect should issue and register this certification that includes information about the energy characteristics of the Spanish property.
In order to ascertain if the property has community debts and also to know the situation of the complex (It allow us to check if there is any lawsuit against the developer, there is any problem on the complex or even if the complex has any urbanistic file open) it is advisable to request to the vendor the following:
– Latest minutes of the board of owners.
– Statutes or norms regulating the Spanish community.
On completion date the selling party must provide a certificate issued by the community of owners which certifies that the property that you are interested in acquiring has no Debts.