Conveyancing Spain FAQs
Q) At what stage should we contact a professional conveyancing lawyer when selling or purchasing?
A) Early. It must be emphasised to both purchasers and vendors of the need to instruct your lawyer early and certainly before the acceptance of an offer. Traditionally, buyers and sellers have tended to wait until either they have secured a buyer or found a property before instructing a lawyer. It is effective to instruct a lawyer as soon as you have made a decision to purchase or to sell.
Q) Could one of your conveyancing lawyers guide us when we have made the decision to purchase?
A) Yes, Conveyancing Spain lawyers will guide and provide any information available relating to the legality of the properties you are viewing. This will save visiting time on properties which may not be legal.
Q) Should we take time in choosing our conveyancing lawyer?
A) Yes, lawyers that specialise in litigation, divorce, family, employment or even commercial property law seldom provide the best residential conveyancing service.
Q) I have been told that I need to use the services of a local lawyer.
A) This is simply not true, conveyancing is mostly an administrative task. It is wiser to choose the lawyer by his credentials rather than locality.
Q) Will instructing a lawyer early from Conveyancing Spain result in having to pay fees immediately?
A) No, it will not. There is absolutely no risk in instructing early. Your professional conveyancing will be carried out on a fixed fee basis. Unless there is any disbursements , you will not be billed until the notary date. You may be asked to provide provision of funds when a property or buyer is found.
Q) You have found a buyer or you are purchasing but find that you cannot go ahead. The paperwork appears to be in order but is it?
A) There are too many cases to mention where a property could not be transferred. An example is when the vendor has had the property on the market for years, only to discover when found a buyer that the house could not be sold. Often there are anomalies found in the paperwork or that the property although registered at the land registry and with notarised title deeds, may not be legal or elements of the build or land may need legalising. This setback could have been avoided by having your conveyancing lawyer in.
Q) Will I have to pay the lawyer fees if the sale or purchase does not go ahead?
A) No unless the property is not typical and involves the need to alter existing boundaries, creating new rights of way or dividing a property, legalising or regularising all or part of the estate. If the sale or purchase does not go ahead, you will not pay our conveyancing lawyers any fees. When a buyer is in place or a property is found, it is standard practice to ask for a provision of funds. If the lawyer has paid for any disbursements on your behalf, you will be charged for these.
Q) You have signed a reserve or sales contract but will you be able to meet the legal requirements for the notary date?
A) Seller, not if you have found any setbacks with the property such as legalising part of. Purchasers, funds to purchase or mortgage may not be in place, the sale of your present home has fallen through or there may be a delay.
Q) Will the mortgage offered by a bank be in place for the signing date?
A) There are many reasons why the mortgage promised may not be in place in time to sign at the notary. Spain is known for giving the okay but then to ask for further documentation at the last minute.
Q) Will your funds for the purchase be transferred on time?
A) It is so important to have any monies transferred by a professional company and that the funds are available in a bank for the conveyancing lawyer to arrange the bankers drafts.
Q) Are lawyers recommended by real estates paid agents commission?
A) Spain is known as a commission country so yes most real estates will receive remuneration's for referrals to their lawyers.
Q) Will using a lawyers recommended by the real estate or bank result in a conflict of interest?
A) Yes, it most certainly can. It is advisable to use an independent legal representative to avoid a 'conflict of interest’. A lawyer who is linked to a real estate, would not last long if he suggested that a property found where the lawyer is an in-house professional in real estate, was not a safe or wise purchase. The real estate will only get paid on a sale.
Q) Would your lawyer and real estate hide any information from you?
A) Lawyers have been known to withhold information. It has been common practice to not advise purchasers about the 'complimentary tax'. Buyer will be contacted at a later date by the tax agency which in some cases can be months or years after the purchaser has bought and paid all purchase tax. On bargain properties, this complimentary taxes can be anything from a few thousand to around 20,000 euros and more.
Q) Is the process of paying the real estate agent even a small reserve fee important?
A) Yes, it is very important. Taking this step will mean that you will be signing a legal and binding contract and will include the terms, including purchase or sales price and dates for completion. The vendor often accepts the conditions on the reserve contract often only signed by the real estate.
Q) Is it true that as we are selling, that we do not need to use a lawyer?
A) This is a fallacy. It is important for vendors to use a conveyancing lawyer in Spain. A lawyer will advise you of any pitfalls. This may include; accepting an offer if made, the agreement made with the real estate agents, the contracts you are entering into as soon as you sign a reserve or private contract. You lawyer if contracted early will also make sure that the property you may have owned for years with title deeds and registered is actually legal to sell.