When buying in Spain the debts of a property can remain attached to that property unless they are properly discharged.
These can include Mortgages, Second charges, Community fees, and unpaid Service charges.
Your Lawyer will do all the necessary due diligence to ensure any outstanding debts are fully repaid at Completion.
He/She will establish very importantly that the property is fully Legal and it has all the correct Documentation in place and there are no outstanding issues with the Town Hall.
To proceed without a Lawyer can end up with disastrous results.
Finding a lawyer
Ideally, seek recommendations from people who live/have bought property in the area or from an Estate Agent with whom you have a good relationship.
Such lawyers will usually be experienced in dealing with people from your country and will often speak your language
Find somebody who you are comfortable working with, who speaks your language and has experience of dealing with foreigners buying property in Spain.
In busy places such as the Costa del Sol almost all lawyers will have some experience in this field but some will be much more focused on it than others and it does help if you use a specialist – a lawyer who spends much or most of his/her time dealing with property transactions rather than doing criminal cases in the morning, divorces in the afternoon and property work in the evening.
Always make sure that you agree, in advance, a fee with the lawyer. This will, typically, be approximately 1 – 1.5% of the price of the property, with a minimum of 2000€; plus any direct expenses that they incur on your behalf. Although fees are important, cheap is usually not best. It is far better to pay a few hundred euros more, for a really good job.
For more information about this subject or if you are here in Spain, why not call into our Office
Andalucian Properties, Real Estate Agent, Marques del Duero, San Pedro de Alcantara, Marbella Located on the main pedestrian street of San Pedro.
tel +34 952927833 or email firstname.lastname@example.org