At IMS legal services we offer upfront agreed conveyance fee for sellers of property in the Costa del Sol as well as for buyers, but we will only work on behalf of one or the other. As with our Spanish buying service the fees are broken down into activities so you only need to pay for the legal services you require. This may be the whole process or a small part of it. We offer an advice service through from just tracking down and tracing original purchase deeds to signing on your behalf at the public notary office.
Is it advisable to appoint a legal adviser when selling my property in Spain
Many sellers of real estate in Spain, to their cost, do not appoint a Spanish lawyer but leave the process to their appointed estate agent or try to do it themselves. In most people’s country of residency they would appoint a lawyer when selling to ensure everything happened properly and that there will be no future issues relating to the sale. The same should be true in Spain.
Why would I appoint a lawyer in Spain when selling, what matters should I consider
Taxation liabilities when selling a property in Spain
A Spanish lawyer will ensure that when you sell your Spanish property you are correctly ensuring that all taxes you are liable for are correctly accounted for and paid, and that you are not going to be liable for any future claims. Vice Versa your lawyer will ensure you do not overpay any Spanish taxes relating to Capital Gains so you can save some significant sums by getting the right advice.
What obligations do I have when signing a Spanish Purchase Contract
A lawyer in Spain will insure and indemnify you from any future legal consequences relating to any matters held in the contracts of sale. The Lawyer will also ensure that the Purchase Contract is an “option to buy” so you are not left with a buyer who does not complete without you receiving compensation. If the purchase contract is wrongly worded or constructed you may find your only recourse for adequate compensation is to go to Court in Spain which should be avoided at all cost.
Holding of Deposit monies for the Spanish sale do I need a Spanish Solicitor
If deposit monies are required to be held by the buyer in an Escrow account rather than be passed directly to you only a Spanish Lawyer or a Public Notary can hold an Escrow account.
Misrepresentation of the Spanish Property
Like most countries in Spain if you fail to divulge or misrepresent the property you are selling you are liable for future legal action by the buyer. Appointing a Spanish Lawyer ensures that at no point in the process are you in breach of the protocol you should follow.
Losing the sale
Often house sales in Spain breakdown because of issues relating to the property that the buyer’s lawyer identifies. If these issues appear not to be resolvable or the buyers lawyer does not understand them, they will advise their client to withdraw from sale and or make the problem seem more of an issue than perhaps it really is. A good Spanish lawyer,who has the right expertise and experience, can often save the sale by ensuring either any issues are rectified quickly, or that proper explanations and resolutions are given to the buyers lawyers.
Having the right paperwork for completion of the purchase
Often when selling vendors are unable to trace the right paperwork both for the buyers lawyers but also to ensure the correct taxes etc are paid. Appointing a Spanish Solicitor ensures you can trace, without the necessity of coming to Spain, your deeds, your Nota Simple and any other documentation related to the initial purchase. Dealing direct with the authorities can be time consuming and costly and often does not result in obtaining what is required. Estate agents are often unable to source the correct documentation and will only focus on the sale part of the process not your Spanish tax liabilities and other possible requirements.
Other requirements at sale of a Spanish Property
Many purchases and sales breakdown on day of Notary due to issues or paperwork not being correctly prepared and presented. The Notary offices in Spain will halt any completion where the necessary legal process has not been followed correctly. An aborted sale can be costly for all parties who may have made trips to Spain etc and can leave you open to breach of contract if the buyer cannot complete due to your side not being fully in place.
In the last few years the amount of documentation required at completion has increased. It is now obligatory for instance for you to have for completion an energy certificate. Not only must this certificate be available but must also be correctly issued. If you hold a Spanish Mortgage someone must ensure the Bank turn up for day of completion to redeem the loan, again with the correct paperwork in place. Appointing a Spanish Lawyer to manage the sale for you ensures all these various requirements are met in full first time round.