12 Steps to Follow to Buy a Home – Home Buying Process

The sale of a home is the most important investment in the lives of most citizens. so we show you the 12 steps you must follow to successfully perform this operation. Among the recommendations offered by the General Council of Notaries is to see if the house carries charges or fees from the community of owners without paying.

Buy a Home

– Before signing the public deed of sale of the house, notaries remember that a private contract is usually drawn up between the buyer and the seller, which must contemplate important issues such as:

1.- Who signs for the selling party: when a promoter sells, the administrator or the agent of the company signs. If it is a sale between individuals, all the owners must sign, and if it is marital or family housing, both spouses

2.- State of charges of the house: it is essential to check if the house is free of charges if it has a mortgage, if there are embargoes on it, or if there is any limitation in the statutes of the community of owners. You can apply directly to the property registry for a simple informative note or do it through a notary. Sometimes it is necessary to ask the town hall for a certificate of urban legality in case there is any type of affectation that does not appear in the property registry.

3.- Quotas of the community of owners: before the purchase makes sure that the house is up to date with payments and expenses since in certain cases the law obliges the buyer to take care of them.

4.- Price: it is necessary to determine with clarity the price and the form of payment. Do not admit the fixing of a price lower than the real one or fertilizers amounts that are not documented. This is contrary to the law and can harm you.

5.- Arras: when the private contract is signed, a quantity is usually given as part of the payment of the total price or “signal” -known as arras- that links both parties. The most common are the penitentials, which allow you to disengage from the contract before signing the deed. If the buyer cancels the agreement, you will lose the amount delivered, while if the seller does, you will have to return double the amount received.

6.- Expenses of the sale: if the parties do not agree on anything, or if they indicate in the contract that it is “according to law”, the legislation of the competent autonomous community will be applied. However, in the private document is usually agreed who assumes the expenses, including all paid by the buyer, except the surplus value that by law corresponds to the seller. If a promoter sells, it is forbidden for the buyer to assume expenses that by law must be paid by the seller.

Buy a Home

– The public deed of the sale of housing is not mandatory unless a mortgage is contracted, but the vast majority of citizens choose to go to the notary to do it for their legal security.

7.- The public deed is reliable: The grantors of a sale declare before a notary their willingness to buy and sell and the conditions of the sale. The notary, a public official, attests or authenticates these statements in the deed so that neither party can deny to the other what they have stated. The public deed is privileged evidence before the courts.

8.- The public deed provides legal security: the notary is not limited to testifying. Its professional performance provides legal security through the verification and verification that the aspects included in the private document comply with the law.

9.- In the act of signing the public deed, the notary, among other things, 1) verifies the identity, capacity and legitimacy of the seller and buyer; 2) exposes the state of loads that weigh on the house; 3) confirms the payment of community fees, or 4) requests the proof of payment of the real estate tax (IBI).

10.- Energy certificate: it is also an essential requirement to present the energetic certificate before the notary public. If this were not the case, the notary would not approve the operation.

– Among the steps to take once signed the deed of sale are:

11.- The payment of taxes and registration in the Property Registry. If you are going to personally carry out those steps, consult the notary for the deadlines in order to avoid sanctions or loss of rights. You can also choose to order your paperwork from the notary. Who will proceed to send to the property registry an authorized electronic copy of the need for registration. Subsequently, you will receive an authorized copy of the official paper deed with all the supporting documents and invoices.

12.- Supplies: do not forget to put in your name the supplies that affect the new home.

13.- Documentation and invoices: keep all documents, supporting documents, warranties and original invoices.