Real Estate Costadelsol

03-11-2006

 Property Sale Checklist

Property Sale

When you are about to finalize a property purchase your lawyer will draft a document that will list all the agreements of the sale. Read this carefully. Once you sign it you will become legally bound to follow all the items in the contract. It is best to read it well as this is the last time you can raise any concerns,

The first thing to look at is the costs. This doesn’t just include the final price of the property but who will shoulder the various fees involved in the transfer of the title. These include Notary fees, Land Registry fees and the Plusvalía Tax. Normally the vendor will wash his hands of all fees and impose all of them on the buyer. But you can save money by negotiating that some fees be shared.

You should also make an inventory of what is included in the sale outside of the property itself. This can mean certain house fixtures or property enhancements such as fences or water tanks. If they’re not in the contract the seller can dismantle them. Don’t rely on verbal agreements and don’t assume anything.

Look at the description of the property as well. There are some sellers who will try to cheat you by giving you the deed to another property. You may think you’re getting a discount but what’s happening is that he’s selling you a property that nobody wants. And when you complain later, it’s too late. The law looks at the deed and it is hard to legally prove that you were “told” about another property.
So closely read the details, location, how many floors it has, how many rooms, and how large the rooms are.

You should also discuss how the deposit will be handled, who holds it, and what steps you will take to guarantee its safekeeping. The most prudent choice would be to place the deposit n financially sound and very well respected agency. For example you can put it in a secure bank like the clients account of the lawyer of the vendor, since the lawyers have very clearly structured rules about how to oversee the monies given to them for custody.


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The Costa del Sol regio is made up of many coastal towns and communities: Malaga, Torremolinos, Benalmadena, Fuengirola, Mijas, Marbella, San Pedro de Alcantara, Velez-Malaga, Nerja, Torrox, Puerto Banus and Estepona. It runs along the Mediterranean coastline on Southern Spain. It is part of the independent territory Andalusia but is so famous that people often speak of it separately. The Costa del Sol got its name because of its beautiful weather. It means "Sunny Coast" in English. It used to be a series of quiet fishing settlements, but ever since the last half of the century it’s become a busy, vibrant and exciting tourist hotspot. It has many settlements and resorts and some of the most luxurious hotels in the world.

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