Necessary documentation before signing the purchase

Necessary documentation before signing the purchase

When we are facing the imminent purchase of a home it is important to be clear on what documentation is needed to formalize the sale which will be different if it is a new home or resale.

1. New housing or directly acquired from the promoter

Name and address of the promoter, address and registration details of the company in the Commercial Register. Drawings of the situation corresponding to the property and housing. Also specify the actual description of it, including data related to the useful and floor area, distribution, services and supplies, easements and common areas, security measures and more. Building specifications. Registration data of the property to be recorded in the Registry of Property. Model contract or otherwise, purchase commitment where all conditions general and specific are included.

If after analyzing the operation we decided to purchase the property at the time of the sale deed we must require:

Titles. First occupation license or certificate of occupancy. Community Statutes and contracts for services and supplies if applicable. Mortgage Facts if there are construction funds and subrogation whenever desired. If not adequate or sufficient funds have option, the seller must cancel at the bank and in the Land Registry prior to or simultaneously with the execution of the purchase. Information about the duration of the year insurance is also necessary.

Real Estate Purchase Documents

Real Estate Purchase Documents

2. Second-hand housing

Title deeds of the transferor. Last annual receipt of Property Tax. Certificate president of the homeowners association stating that the seller is aware of the payment and the expenses of the community. Otherwise, keep in mind that the outstanding monthly installment payments for the previous year and the current year, is passed on to the buyer. Ownership and load state of housing in the Land Registry. The acquisition must be made free of charge. Details of the mortgage. If the substitution occurs, a registration tax and savings would be obtained regarding the formation of a new mortgage. If not, it should be canceled by the seller before the conclusion of the contract .

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