When trying to purchase a property, there are a few things that you have to look into before you get yourself into some kind of trouble that is way over your head. There are some legal things they you have to look at before you purchase of property in Spain so that you do not end up losing money or not getting the property at all. Here are just a few of those things that you have to look for when you are looking to purchase the property in Spain.
Once you have decided on the property that you like you have to get a simple information note. This information consists of some details that you need to know before you even sign for the property. It has information like if the property really belongs to the cellar, a full description of the property so you can compare what the seller has told you and the legal description, and it will tell you if the property still has many old on it or it is free to sell. If there is money still owed on a property, you cannot legally sell it in Spain.
After all that is done and you have been from abroad you need then you can enter into the pre-agreement with a buyer and the seller write a contract until a public deed of purchase can be drawn up by the Spanish government. If the buyer and the seller choose to, they can have a type of agreement drawn up if they prefer.
If you are going to be getting a mortgage for this house or property in Spain, you are going to have to bring a few more things to the bank. In Spain, the bank typically wants to have all these things brought to them to make sure that you are going to be making the payments on time. You need to bring to the bank, a work contract, and three months of consecutive paycheck stubs, last year’s Income tax returns, and the pre-agreement with the seller. There are many more things that you have to bring in but before you buy a property in Spain check with the mortgage broker and they will give you a list of everything you need to bring in.