Thu 2 Jun 2005
As always you will have to ask for legal advices don’t go blind and don’t sign anything under pressure or on emotions. In the area of Alicante they are a lot of development with an high number of new properties being built each year. Usually, you can hear about those properties in brochures, Internet, magazines and fairs.
The buying process
Once you are decided on a new property, you will need to ask for its plan from the architect and the plan of its plot (plan parcial in Spanish) from Urbanismo department. The architect’s plan help to make valuation of the market price of the property and help to determine criteria from mortgage and insurance premium. The plan parcial show if your building is legal and registered , all building plots must be approved by the town planning department.
Do go out any further if you can’t have a plan parcial to see. If the property is on the beach you need an approbation of the Jefatura de Costas (Office for. Coastal Authorities ).
Reservation deposit, Reservation contract
When you are decided you make the buy after you have seen the Plan parcial, the plan of the house. You have to sign a reservation contract (documento de reserva) and make a non-refundable reservation deposit. The reservation ensure that the property will be put off the market and reserved for you at a fixed price during a period of time. The amount may vary between 3000 euro and 12 000 euro.
Nota simple and purchase contract
The nota simple is an abbreviate version of the Escritura publica(title deeds) and has all the essential information about property (ownership, Cadastral number, information regarding mortgages and other debts against the property) and it show if the person building or selling has to right to do so. The nota simple is issued by the Registro de la propriedad (Land Registry Office). The private purchase contract (contrato privado) is very important, this document means that the plan of the house and the location of the plot is satifactory. The Nota simple is completed , the document has the details about the cost of the property, the deposit to be paid (normally 10%), the date when the sale is to be completed and penalties for failing to comply with the contract i.e. loss of deposit paid. The contract will be in Spanish. You can ask to have an English to copy to read but only the Spanish version is legal.
Escritura and Copia simple
You have to sign the escritura de compraventa this document transfer the ownership to you when the document is signed you will get a copy of it, copia simple without the signature, this is also a proof of your owner ship. You have to sign the escritura publica which is the escritura de compraventa official with stamps from the Property Register.
Other documents: Cerfiticado final de la direccion de la obra is the document you get from the architect that enable a declaration of a new building at the notary office, you will this new document to obtain a Licencia de Primera Ocupacion from the town hall, it is a license to inhabit the property pays local taxes and receive electricity.
