Things to look out for:
- Privately written sales contracts without registry office records are binding in Spain.
- As a buyer, insist on the completion of a sales contract as witnessed by the notary at the registry office along with your entry as new owner into the property register.
- Insist on proof of ownership from your contract partner. Proof should include a certified purchase contract with an official stamp from the land registry along with a copy of the excerpt from the land registry.
- Before you sign the contract demand to look at all related documents (e.g. planning permission, outstanding mortgage charges, rent and lease contracts).
- Buyers who buy a property from a non-Spaniard are responsible for the payment of taxes.
- Ask for proof (through appropriate documentation of the last 5 years) that the seller has paid taxes and welfare contributions. If you are buying a previously privately owned apartment see that payments to the ‚ownership society' have been paid in full.
- As regards new buildings, one should insist upon legal protection awarded by the Aval law. Payments are made according to the progress of construction. These payments should be made on condition of a bank guarantee presented by the construction company/ seller.
- Arrange in the official purchase contract which law should be applied.
- Seek the involvement of expert advisors.