Home buyer consumer protection

Compulsory information sale

What information should be provided to the consumer home buyer?

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To answer this question, it is necessary to go to Royal Decree 515/1989, of 21 April, on consumer protection regarding the information to be provided in the sale and rental housing. This standard is applicable, pursuant to your article 1, to the acts of supply, promotion and advertising that are carried out for the sale or rental of homes that is carried out within the framework of a business or professional activity aimed at consumers and users.

Information on the entrepreneur involved

One of the extremes on which employers must report information is about themselves. Not in vain, Article 4.1 establishes that they must provide their name or business name, address and, if, details of your registration in the Mercantile Registry, from the seller or lessor.

Information about the offered house

Entrepreneurs promoting homes will also have to provide consumers with sufficient information about them.. This is what the articles refer to 4, 5 and 6 of RD 515/1989.

In accordance with article 4, Entrepreneurs must transfer the following information regardless of whether they promote the home for sale or rent:

  1. General plan of the location of the house and plan of the house itself, as well as description and layout of the electrical networks, of water, gas and heating and guarantees thereof, and the fire safety measures that the property has.
  2. Description of the house with expression of its useful surface, and general description of the building in which it is located, of common areas and accessory services.
  3. Materials used in the construction of the house, including thermal and acoustic insulation, and of the building and common areas and accessory services.
  4. Instructions on the use and conservation of the facilities that require some type of action or special knowledge and on evacuation of the property in case of emergency.
  5. Identifying data of the inscription of the property in the Property Registry or expression of not being registered in it.

Además de lo anterior, Article 5 establishes a series of additional information requirements for cases in which homes are promoted for sale. In particular, employers must make the following information available to the public:

  1. Copy of the authorizations for the construction of the house and of the town planning certificate accrediting the town planning circumstances of the property, with reference to compliance with reparcel or compensatory operations, as well as the license for the use or occupation of the home, common areas and accessory services.
  2. Statutes and operating rules of the Community of Owners, if, as well as information on community service and supply contracts, including an extract of accounts and obligations of the house object of the sale if the Community of Owners is already working.
  3. In the event that the house or common areas or accessory elements are not fully built, the delivery date and the phase in which the building is at all times must be clearly stated.
  4. In the case of the first transfer, the name and address of the architect and the name or company name and address of the builder will be indicated..

Information about the contract

Equally, in accordance with Article 5.4 of RD 515/1989, Entrepreneurs promoting homes for sale must provide additional information on how the contract will be concluded., including its general and special conditions.

Also, they must state especially i) that the consumer will not bear the costs derived from the title that correspond legally to the seller; ii) the content of the articles 1.280, 1.th and 1.279 Civil Code, relating to the cases in which it is necessary to grant a public document; y iii) that the consumer has the right to choose the Notary that interests him, although without being able to impose a Notary that, for its territorial competence, lacks a reasonable connection to personal or real business elements.

Information on price and financing

Last, in terms of price and financing possibilities, Consumers and users should also receive information regarding the following extremes to the total price or rent of the home, accessory services and payment method (article 4.7) and, In the cases of promotion for the sale of the home, it will be necessary to inform about the payment of taxes of all kinds that tax the property or use of the home (article 5.3)

Additionally, and according to the article 6, the information regarding the sale price has to be detailed and clear, an explanatory note with the following information must be available to consumers:

  1. Total sale price, including Agent fees and VAT, if the sale is subject to this tax. In another case, the corresponding fee for the Property Transfer Tax and Documented Legal Acts will be indicated..
  2. Way to pay, and in the event of deferrals, the applicable interest rate and the amounts to be paid for principal and interest and maturity date will be indicated..
  3. Acceptable means of payment for the deferred amounts.
  4. If subrogation will be made in a mortgage loan contract, the authorizing Notary of the corresponding deed will be clearly indicated, date of this, details of your registration in the Land Registry and the mortgage liability corresponding to each home, with expression of maturities and amounts.
  5. Guarantees to be provided by the buyer for the price or part of it, postponed.
  6. Expression that the total amount of the sale will deduct any amount paid on account by the acquirer or on behalf of the acquirer before the transaction is formalized.

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