What is public deed of sale?
When it comes to wanting to buy a home, this is the last procedure that we will have to perform. The public deed is a document signed before a notary that reflects all the conditions of the sale, which provides legal certainty to the parties, and allows the registration of the property in the Land Registry.
What is my home’s selling price?
Each property will have a different real estate appraisal value, depending on factors such as the type of property, the area, the characteristics of the property…
To assign a sale price to our home we will have to carry out a study of the supply and demand of the specific real estate market of the area and / or locality where it is located. Both the study and the valuation obtained from it, will be provided by one of our real estate agents.
What is the arras contract?
The arras contract is a private contract concluded between the seller and buyer, which sets out the conditions of the contract of sale reached, including the purchase price, the method of payment and the maximum period to formalize the transaction before a notary. It is part of the so-called pre-contracts, where the parties are obliged to sign a contract of sale in the future, being provided as proof of this an amount of money as a signal or advance.
What expenses or taxes should I consider when buying a home?
. If it is a used home, i.e. a second or subsequent transfer, we will be taxed by the Property Transfer Tax (ITP). The rate of tax varies depending on the CCAA (Autonomous Communities) as it is a transferred tax, and the possible reductions that each Community has established (young people, large families, persons with disabilities, etc.).
New Construction Housing
. If it is a new construction dwelling, that is, a first transfer, it will be taxed by I.V.A., and in addition to assuming this tax, the buyer will be taxed by A.J.D. The rate of taxation of the latter tax varies depending on the CCAA (Autonomous Communities) as it is a transferred tax, and the possible reductions that each Community has established (acquisition of habitual housing).
What is the Energy Efficiency Certificate?
The energy efficiency certificate is an official document required by the Ministry of Industry, Energy and Tourism, which will be mandatory both to formalize the sale and lease of a property, and which aims to achieve an energy improvement in all EU countries (European Union).
It will collect all the energy aspects of the house and the so-called “energy label” will be derived from it. In it you will be able to see the ratings with letters (A,B,C,D,E,F and G) being the “A” the most efficient and the “G” that does not have any kind of energy efficiency.
Can I sell my home if I have it mortgaged?
Legally you can sell your mortgaged home. There will be two possibilities:
– That the sale cancels economically and registryly the mortgage with expenses borne by the seller.
– That the buyer be subrogated in the mortgage loan.
What documentation will I have to provide to sell my home?
- Owner’s ID
- copy of the property deeds;
- latest bills for supplies such as water, electricity, or gas; the last contribution receipt (I.B.I.) and other municipal fees (garbage, etc.)
- Energy Efficiency Certificate.
What documents do I have to have if I need financing to buy?
- I.F. or residence permit
- 3 latest payrolls
- Employment contract
- Working Life
- Income statement (if you make it)
- Banking movements
- 3 last receipts if you have currently unpaid loans
- Civil status documentation in case of divorce
What savings will I need to finance the purchase of a home?
- A minimum saving of 20% of the purchase price of the property.
- You will have to face the expenses and taxes of the purchase and mortgage that may correspond to you, such as Notary, Management, Taxes, Property Registration, Mortgage Opening Commission, Appraisal, etc.
I am interested in buying a home, where can I inform myself?
If you want information about any of our homes, about any promotion or would like to visit one of them, contact us at 0034. 872 21 46 87, or to chat from our website or by email to firstname.lastname@example.org.