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You are here: : Home > Buying Guide > How to buy a home in Spain: Looking adequate housin

Buying Guide  

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How to buy a home in Spain: 
Looking adequate housin

The home buying plan


For though the housing that we will acquire not only precision-so visit it, but it is also essential to know what their legal situation, inquiring, among other things, to whom it belongs, liens on it, if it is subject to a special rate regime, whether it is commonplace in the payment of fees and co-community in the Property Tax, or if there is al-guna a ban on so-ber it.

Examination of the physical and legal situation of the home you intend to purchase is made more complex in those cases in which we acquired on plane, ie, in those cases where the dwelling in question has not yet been built. In this case, the only description which we can access will be the result of the plane that the developer can show us, and housing will only exist if the developer fulfills its obligation to build in accordance with the provisions of the planes on which was held the contract.

THEREFORE, FOR IF WE HAVE PURCHASED ON MAP, we should not firmarcontrato any, or deliver any amount on account of the price without first check the following:

 

 

 


  • Podrá solicitarse del registrador un informe escrito acerca de la situación registral de la finca, o bien, asesoramiento verbal sobre cuestiones relativas a la situación registral de la finca.
  •  The developer with which we are hiring there, and that the person who will sign on its behalf is authorized to do so. To this end we refer to the Register, where the sponsoring company must be registered, and therefore resorting to any Register, or throughwww.registradores.org page from which you can get information about the registration of the company, officers, agents and statutes. The query can be done from their own homes and will provide the information "on line", immediately and over the Internet.Payment of fees is made using a credit card charge. Such testing, should in any case, it is essential in cases of off-plan sales. 
  • That the land on which to carry out the building is registered in the name of the development company we contract with, so that being the owner. To this effect will have to consult the Property Registry in the foregoing terms. 
  • That building is going to raise was authorized by the City, by granting a license. The verification of this condition may be obtained from the Land Registry, for if contains registered in the description of the building the future is because previously been justified to the registrar the existence of the license, and the start of construction in accordance with the approved project. Where in the registry does not appear yet the description of the building will need to go to City Hall to check on the site in question can be built. 

  • If carried out before the building require us to sign a private contract and the payment of amounts on account of price, will consider: 


    • In case you want to buy the home that has not been built, the only description which we can access will be the result of the plan that the developer can show us, because housing will exist only if it fulfills its obligation to build in accordance with provisions of the planes on which the contract was concluded.
    • That if the contract contains unfair terms and will be taken not to put, although the purchaser has signed and will be void. Such are those that allow the developer to make subsequent changes to the project without the buyer consents, which require it to forfeit the purchaser the right to choose a notary, which establish the obligation of the purchaser to be subrogated to the mortgage loan by the promoter, which forced him to hire additional services, the provision that the consumer has to bear the costs of preparation of the title which by their nature apply to the professional (new buildings, condominiums, mortgages to finance construction or division and cancellation), which imposes on the consumer to pay taxes where the taxpayer is the professional or that imposes the costs of establishing access to the general supplies of housing, when it should be delivered habitable condition. 


    • Once construction is finished, and before signing the deed of sale, we require the seller to warrant that the work has been completed in accordance with the description set out in the plane
       Where amounts are delivered to the sponsor may be required of it to justify that has been deposited in a special account may only have to carry out the construction, and that they be insured or constitute a guarantee ensure its return plus a six percent for the case of not carrying out the construction or delayed delivery. Out insurance to cover damage that the buyer is able to produce for defects in construction. Such circumstances can be checked via a query to the Land Registry, as if the termination has entered the building, it is because previously the registrar has justified the existence of a certificate of final completion in accordance with the approved project, and insurance contract. Therefore, before signing the deed, you must verify that it has entered the completion of the work in the Land Registry.
3. - Finding funding hipotacaria 
Today, buying a home usually involves obtaining a mortgage loan through which finance the acquisition. The Bank or the Fund pays the lender the amount of money to the seller and the buyer is obliged to return the amount paid to the bank, paying an interest. The bank guarantees the repayment mortgage, which allows you to require the sale of the home if the buyer does not meet the terms of repayment, to thereby charged with the price obtained. 


  • In search of the mortgage loan we must bear in mind that the bank or who ask for cash for the loan require that we give it to us housing registered on our behalf .
  • In search of the mortgage loan through which finance the purchase of the home you buy, we will consider: That the bank or the box who ask for the loan required to give it to us we have the house registered in our name. Generally, the contract of sale and delivery of the loan with the constitution of the mortgage occur simultaneously, so that at the time of execution of the deed go to the Notary the seller, the buyer and the agent bank, who shall deliver the amount of money to the seller. That loan contracts are generally contracts of adhesion, including general conditions, some of which may be abusive. At this point we must bear in mind the provisions of the legislation to protect consumers and users. It may be that the home you're going to buy is taxed to the mortgage which was the seller to finance its acquisition or, in the case of new housing, the mortgage which was the sponsor to finance the construction. In such cases it is important to know that the buyer is not required to be subrogated to the mortgage loan by the seller, but may require that you cancel the old mortgage, and get a new mortgage loan from another entity that offers better conditions. In those cases where we will subrogate the loan received by the seller or developer, we consider: 

  • That we require the seller to display a certificate issued by the Bank or creditor, whichever is the amount that is outstanding. We can ask the bank or savings bank that has the mortgage of the seller or promoter improved the interest rate and term conditions, and if they refuse to do so, we may require bank or other such conditions, so the new entity to pay the previous amount outstanding and put in place as a creditor, with the new conditions more favorable. Such transactions are virtually free as are exempt from taxes and notary and registration fees and commissions that banks can charge for carrying them out are very limited by law.


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