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The advice of a lawyer will save you problems in your home purchase

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If you are buying a property and want to save future problems, it is advisable to consult a lawyer. The savings far exceed the cost of lawyers' fees.

Buying your home is usually the biggest investment for most individuals. Even those who have several properties tend to invest cautiously in the housing market. Real estate companies always employ the services of lawyers before making an investment.

Ultimately, the services of a lawyer are often more useful corrective to preventive effects. While most people keep hiring them when it is too late.

The effort to find a good consultant can save you a lot of problems.

How you can help your lawyer before buying your home

Before entering the property purchase should be performed basic tasks of research and analysis. It is important to check that the property is in order and sales contracts and, if, mortgage loan, they will not end up giving problems.

Also, tax burdens are a significant percentage of the operation. Along with the costs associated can increase up to 20 % the sale price. So should you know before taking this extra scare.

Property research: tax burdens, mortgages, legal status…

Before purchasing the property it is essential to know their legal status. It could weigh on liens and encumbrances, as well as limitations of the property. A specialist in real estate law can find out all these details and act accordingly.

You must go, at least, sources here we describe.

Registro de la Propiedad

The Land Registry is the first source of information on request. En ella You can check for loads, encumbrances or limitations of property. You can also check if there are pending registration entries.

  1. Its loads But the commandments and constituted servitudes.
  2. Considered taxes the debts, as mortgage.
  3. Its Nonlimiting Property the law or agreement constituted rights for third.
  4. The seats pending registration They may involve the incorporation of charge Register, property liens or limitations. It is important to consult, since the Land Registry is governed by the presentation priority, so if you have to get a mortgage before your purchase will end up buying a mortgaged property.

Cadastre

It is very common that the actual area of ​​a farm and the cadastral surface thereof differ. This may be due to several reasons. For example:

  • A simple error when measuring or recording the plot.
  • Incorrectly editing the land registry of neighboring plots.
  • A division of the surface because of inheritances, deals, partial sales or expropriations.

Ultimately, When these situations happen, it is desirable that the current owner is responsible for managing cadastral alteration. Your real estate attorney can assist and verify the operation occurs as expected.

The land fits the reality is very important, as it may affect the valuation of the property, which could have an impact on the price of a possible mortgage. It will also be reflected in insurance premiums and, above all, in tax burdens.

Both the Property Tax (THERE) as the Tax Increase in Value of Urban Land (IIVTNU or surplus) They are calculated based on the assessed value of the property.

town hall

In the town hall where you filed the property can also provide valuable information on the legal status of same. As the council manages different types of municipal taxes, you may report on any outstanding debts that may affect your purchase.

It may also be interesting, consult the General Plan for Urban (PGOU), especially if the property you want to buy is in a residential area or has an area where you can build a storeroom, garage, tennis court or the like.

Some areas of soil have limitations to their management capabilities. The most basic distinction is the difference between urban and rural land, the consequence will be that may or may not realize constructions. But some areas may be protected from performing works of improvement or maintenance or use of certain components and materials.

Therefore, preventive assistance of a lawyer with knowledge of planning will allow you to have a more realistic view of the value and potential of the property you are about to purchase.

Community of owners

Not to forget the value of the homeowners as a source of information, if any. Not only can provide information on the status of living on the farm, but may give approximate values ​​for utility bills, Taxes and fees.

Will inform you about the price community fee, which it is a payment has necessarily incurred. Housing is subject to the payment of its debts to the owners'. So they could proceed against the housing by a flexible procedure and issue orders against the house but if the debt is not paid. This includes the possibility that the court has entered a lawsuit against the former owner or outstanding debts that fit, which could complicate the purchase of housing.

Last, you can get an idea of ​​the often extraordinary contributions that are ordered and whether there are any outstanding, the state of the building and the next important work to be done.

You should also be aware that the community may have agreed with the seller deprivation of certain services on Board. For example, You can rescinding the right to use a common element for not having participated in its financing. If this is the case, should figure out how to reverse the situation, if you're interested in doing so.

In all these cases, your attorney will be an invaluable aid, because it can detect all irregularities and help negotiating with the community to facilitate an orderly transition, peaceful and beneficial to all parties.

Service and supply companies

Another common risk in the sale of property is that the previous owner has left debts with service companies and supplies. If so, You may find that you try to force take over its debts or management fees. It can also happen that it has terminated the services, and must be discharged again.

In the first case, Your lawyer will help to negotiate with suppliers of light, water or gas. If you end up paying a debt that does not belong, You can also negotiate a discount on the selling price of housing, or claim this amount out of court and / or judicial.

In the second case, You may assist with installation bulletins and compliance with the relevant standards. Note that you may have trouble changing facilities or suppliers or to register properties under certain circumstances. For example, when the house is old or is in a protected environment you might find that can not exceed certain voltage or she pays off to keep the rate of the previous owner.

Calculation of costs and taxes

Taxes can be a good pinch on such large operations as a real estate sale. Also, These transmissions carry other expenses pairings, such as notary, registration, gestoría, appraisal ... and if you hire a mortgage loan you will have to add origination fees, deeds and interests, inter alia.

So well you have to calculate the cost of purchase, which it is much higher than the selling price of the property. Your real estate attorney can explain how to minimize these costs. And it is estimated that the amount may become the 15 % to the 20 % of the purchase price.

Common expenses: notary's office, registry and agency fees

Notary fees and registration are governed by a legally established fees. These costs can vary between 600 and 1.500 euros.

The registration of the transaction in the Land Registry. This procedure provides legal certainty and costs the environment 500 euros.

Last, costs can vary greatly gestoría, because the professional is free to establish them.

tax expenditures: IVA e ITPAJD

The two heavy taxes on buying a home are VAT and ITPAJD. VAT amounts to 10 % the purchase price, although it is smaller in the case of social housing. This tax is levied only on the first transmissions and commercial operations.

For his part, the Transfer Tax and Stamp Duty (ITPAJD) It depends on the autonomous community. When you buy a new home you will have to pay in the form of stamp duty (IAJD), that round 1 % the purchase price.

But when you buy a home of another individual shall apply in their mode Property Transfer (ITP), which means that the guy shoot up 6 or the 10 % the purchase price.

Course, whether it is a mortgage on the property to secure the loan purchase you will have to pay this tax back, in the form of IAJD. This implies that amount to another 0,50 – 1,50 % of the amount borrowed. This issue is controversial, and confirmation of the STS No. 1505/2018 it could free him from paying this tax.

However, when the property is purchased public housing reduced these tax rates shall apply. But they still represent a significant percentage of the final price of the transaction.

mortgage costs

In case you need to finance the purchase of your property with a mortgage will face other costs. Mortgage costs are those associated with the creation of the mortgage, and include at least:

  • notary's office.
  • gestoría.
  • Appraisal.
  • Opening commission.

In Spain we have gone through the practice of the integrity of these expenses is attributable to the borrower. However, This practice has been declared abusive and have specialized courts to correct the situation.

Currently banks are participants of these expenses. But it is almost impossible to detect if you are charging abusive concepts unless you have spent much time studying the matter or by a knowledgeable attorney banking sector advice.

On the other hand, If your lawyer is studying the mortgage deed may warn about the legitimacy of the introduced negotiate better terms and conditions. This will help you avoid problems so typical of our country related to abusive banking practices.

Mortgage analysis

But the study of the mortgage deed does not end in avoiding expenses or unfair terms. Granting the mortgage depends on several factors, It is the main market status at the time and ability solvency of the applicant.

Esto significa que under certain circumstances, the loan may be more expensive, Given the:

  • An entity may raise interest rates,
  • O request additional guarantees, jointly and severally guarantees or insurance contracts and other hedging instruments.

Your lawyer can help you examine these items and advise. Also, you can detect all kinds of irregular practices, to reclaim extrajudicial or judicial.

Mortgage cover instruments

Repayment insurance are typically troubled banking product. And it is that banks tend to condition the loan to hire these insurance entities related to yours.

Esta práctica, with which it has adversely affected the competitiveness of the sector, It has been harshly criticized. Also, the Direccion General de Seguros has repeatedly said the abusiveness of this practice, It will be elevated to ban the new mortgage law.

Therefore, If you have a mortgage lawyer when concluding the loan, You may assist you regarding the terms and conditions that may require. Including hiring hedging instruments as repayment insurance.

Signals and arras

It is advisable to ensure the smooth course of an operation as important as the purchase of a property. So often resorted to so-called contract of arras. Your lawyer can review the security agreement proposed by the vendor to verify that this is a fair deal, or write it for you ensuring that fits your needs.

Drafting and reviewing contracts is a service often offered by real estate lawyers, which has a very modest cost, especially if you consider the problems that can be avoided.

How they work signs and arras

The arras are an institution that functions as a signal. They delivered when it agreed to purchase the property, to ensure that neither party backs out. Arras contract by payment of an amount that is delivered is agreed seller.

If the sale ended formalized, deposit will be applied to the selling price, As a foretaste. But if not formalized will deploy its guarantee function:

  • When business does not close under its responsibility, you will lose your deposit or signal.
  • But if the business does not end because the seller, it must return their duplicate arras.

This signal is usually substantial, so in practice it is very conflictive. And the defaulter usually find some loophole to get their money back or not pay double. Hence It is important that your attorney assist you in formalizing the agreement and, if, in claiming the arras.

Will New Work or second transmission?

Last, You should know that do not work like the first transmissions to the following. All of the above are general approaches in which a lawyer will be of great help. But in each case should be checks and more concrete preparations.

How can you help your lawyer in the first transmissions

For example, If you buy a property first transmission or on the plane, It may be of interest previously research the builder or developer. It is not uncommon failures or inadequacies with the contract are given in these cases.

So your lawyer can provide information about the solvency of the seller and how to proceed if the contract is not fulfilled as stipulated. In these situations we will have to perform a series of judicial and extrajudicial claims, where you will need the assistance of a lawyer.

Also, Law of Construction Planning provides a number of additional guarantees that you should know, if I were to claim defects. These defects can be as trivial as aesthetic details or finishing or as critical as failures structure or building.

Last, a real estate attorney can help you analyze all the technical and legal documentation relating to the first transmission. This includes building permits and first occupation and the certificate of occupancy, whose correction depend on future high services and supplies.

How can you help your lawyer in successive transmissions

Successive transmissions can carry rigged all kinds of surprises. With the further disadvantage that solvency particular vendor tends to be lower than a promoter or constructor. And it is that the latter are required to have different insurance, while the former could only respond with their personal assets.

Therefore, Your lawyer can help you detect and claim all sorts of hidden defects, inconsistencies or future contractual breaches. This includes the possibility that the estate did not fit the agreed usage. For example, that you buy a local commercial purpose but can not obtain licenses given municipal regulations.

How you can help your lawyer when buying your property

After checking that the legal situation is in order, You will have to enter the formalization of the sale. This occurs through a purchase agreement, which can be private or a public deed. evidently, the deed is the option that offers greater guarantees.

Contract of sale

Often before granting the public deed of sale the parties sign a private contract. This private contract, genera Leg the effect of the purchase, so it has the power to force the parties to comply with the agreed.

If the sale is first transmission, This agreement will be signed virtually all occasions. But in the case of the second transmissions is not only more rare sign, but also more problematic.

First, the seller must be able to dispose of the property. This means you must sign the private contract as an owner who appears in the writings of the property. Should be several people, must sign all. The only case where different people can sign is one in which powers to effect surrender.

Note that If you sign someone who has no right to dispose of the property the contract is invalid. This could result in compensatory actions, for which you need the assistance of counsel. Why should the advice of your real estate lawyer is prior.

If you attend the formalization of this contract, your lawyer will check the powers and scripts to verify that everything is in order. This is the role of the notary at the time of formalizing deeds. But in this case, It is a private contract, will not have the assistance of a notary.

Note that there are particular cases:

  • If the property is the habitual residence of a family the concurrence of both spouses is required (or partner).
  • When you belong to a society you must sign the administrator or agent thereof.
  • If part of a inheritance in abeyance must involve the heirs.

Ultimately, your lawyer will not be limited to checking the suitability of clausulado, but also its relevance to the legality.

Enforcing the private purchase contract

Being fully valid, either party can make the private purchase contract to deploy its natural effects. This means you can go to court to demand that the sale is formalized, since the mere private contract can not be entered in the Register and, therefore, you can not get a mortgage on the property or have the legal certainty that grants.

But it also means that the seller could go to the courts to enforce them, convey the property and demand payment.

In either case you will need the assistance of a lawyer, so it will always be cheaper and faster to have their services early on and prevent problems that hire trial when the matter is before the court.

What can help your lawyer after buying your property

But the assistance of your lawyer will not end when you have already entered your home. As it noted above, it is possible that certain building defects or hidden defects are detected. In these cases you need to perform the corresponding extrajudicial claims. And, if they are not met, You will have to come to court.

Your lawyer can handle these claims, saving litigation. At worst, You will need your assistance to defend their rights and interests in court.

However, the supervening defects manifest themselves not only in building. Different contracts, deeds and documents can accommodate irregularities. And often encounter unfair terms (especially in mortgages), with vices of consent and other legal issues.

If any of these cases would also have to resort to the relevant claims, and when lack performing any of the procedures recommended in this article. The most frequent cases are:

  • The adequacy of the actual plot with the land.
  • Appropriate registry entries.
  • The formalization of deeds.
  • Payments in a timely manner.
  • Tax self-assessments.

If your attorney specializes in the field, It may even assist you to apply for grants and subsidies relating to maintenance, modernization or adaptation of installations.

A particular observation: purchasing real estate and foreigners

A field which is particularly interesting to have the services of a lawyer is to the sale of property by foreign nationals. This is a very common case, especially:

  • Holiday home or in "retirement".
  • To obtain citizenship.
  • Real estate investments.

To buy a property in national territory simply have a NIE, obtainable by proxy. So it is not even necessary to travel to Spain to acquire property here.

Administration of properties either required displacement, and usually performed by proxy in the country. In fact, international law point as a forum and as the law applicable Spanish law in most cases.

Also, also the Spanish are applicable public laws. This includes tax regulations, urban, environmental and, if, domain constraints and easements. Therefore it is essential a connoisseur of local law when managing a property from abroad.

On the other hand, investment 500.000 euros or more in Spanish property, provided they are free of liens and encumbrances, entitled to obtain a residence visa. This implies that foreign citizens can invest in real estate and, once the have paid such amount, apply for a visa.

How much can you charge a lawyer to manage the purchase of your home?

Regrettably, the answer to this question is always: It depends. However, we will try to offer an approximation.

A manager can collect between 300 and 600 euros for the operation. Overall, the lawyer has greater legal knowledge and, As I have explained, You may intervene at certain points they can save you much more than that amount.

Some professionals charge a percentage. For example, a 1 % Operation, to which must be added VAT (21 %). It is usually set a minimum price.

The price depends on the complexity of the operation. Not the same that wants to purchase a storage room or garage in the city center a villa in a protected area or encumbrances housing.

Do you really want to hire an attorney for this operation?

As usual, You should assess thoroughly if you are interested in a lawyer assist you and advise. The lawyer will ensure their interests. This differentiates:

  • Of the promoter or selling property. The law requires these agents to provide a series of information, on business, technical and legal characteristics of the building and operation documentation. However, the seller's obligations end with the provision of this information in a clear and orderly manner. So only they ensure their interests if they want to, contrary to what would happen to his lawyer.
  • Of the estate agent. Although a good agent can help streamline the operation and during its course, its real aim is to close the deal. So your main motivation is the closing of the transaction. Also, You need not have legal training, and when he has sufficient knowledge of real estate law. However, a lawyer should also know Banking Law, Tax, Urban and Civil.
  • Of the notary and the recorder. Although these professionals will offer legal information necessary, not represent the interests of any of the parties to the transaction. This means that will ensure that the purchase fits Law, but they can not begin to analyze the appropriateness or timing of the operation.

Ultimately, the lawyer working in defense of their interests.

Conclusion: Prevention is better than cure

Ultimately, the services of a real estate attorney is more than advisable when making a purchase of such goods. Not only will it help you better understand the documents you are signing and paperwork that is submitted, but it will prevent future problems.

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