Arantxa Goenaga, partner and lawyer at Círculo Legal Barcelona, reveals that “one of the big red flags is that the home has pending charges.” Verifying this information is essential because “if discrepancies arise and we need a mortgage, the bank could back out.”
In addition to being up to date with the community payment, you must also check that no IBI receipt is due or that the property has passed the ITE. Goenaga advises “taking a look at the statutes in case we have to undertake repairs or maintenance that we have not been informed of.”
Although home sales have been languishing for months, it is likely that this indicator will close 2023 with a record figure. According to data from the National Institute of Statistics (INE), these operations fell 11.1% year-on-year in October, but it is possible that the accumulated total is the second highest since 2007. Investing in housing continues to be on the roadmap of the Spaniards, but to do it safely, it is important to take certain precautions.
– Advertisement –
Arantxa Goenaga, partner and lawyer at Círculo Legal Barcelona, reveals that “one of the big red flags is that the home has pending charges, something that we will only discover if we verify it in the Property Registry.” The lawyer emphasizes “the obligation to verify the registry description against the physical reality, since, if discrepancies arise and we need a mortgage, the bank could back out.”
In this sense, Goenaga advises “leaving this eventuality included in the deposit contract, allowing the buyer to recover them in case things are discovered that do not fit in the registry and the loan is left in the air.” Given the financial effort involved in purchasing a home, the lawyer insists that “what may be good in our eyes may not be so good on paper, which is why it is essential to have professional advice.”
Payments per day
The zero debt certificate from the community of owners is essential, but beyond checking that the seller is up to date with the ordinary and extraordinary fees, “we must find out if there are scheduled actions that lead to future losses, so as not to have any surprises. “, indicates Goenaga, who advises “taking a look at the statutes in case we have to undertake repairs or maintenance that we have not been informed of and consult the latest Technical Building Inspection (ITE).”
Another disappointment that the buyer may experience is discovering that the home has a file pending resolution at the town hall. “In the purchase of premises converted into housing, it is usually the case that the necessary permits have not been requested and the property lacks a certificate of occupancy, which prevents registration,” says Goenaga, who also recommends checking that we are not has hidden the existence of a demolition order.
On the other hand, proof of the last IBI receipt must be required, but also “verify that there are no pending payments from other years that would later complicate a new sale of the property,” says the lawyer. The seller is always responsible for the settlement of this tax in the year in which the home is sold, although “sometimes, it is agreed that it is the buyer, especially if the operation is carried out now at the beginning of the year.” indicates the expert.
– Advertisement –
2024-01-19 12:06:04
#issues #verified #real #estate #investment
