WHY SHOULD I NEED A PRE-PURCHASE SERVICE WHEN BUYING A HOUSE IN SPAIN FROM A BANK?
I am sure that most of you are making this question, and in order to clarify I think we have to get a fact:
THE BANKS ARE NOT STATE AGENCIES!!
They are Banks, absolutely! So they work as a Bank, with complex proceedings and one target: their security.
They don’t have experience selling properties and don’t know how to do it, so they do it as if properties were Bank deposits, with a lot of contracts and stages, keeping their position of superiority until the completion of the purchase.
Each Bank has its own procedure, and a mistake in one stage can give you troubles. For example, first of all, you have to choose the property in their website, and ring an agent with a code, who gives you more specific information about the property.
If you are seriously interested in some specific house, you have to make an appointment with an Spanish surveyor of the bank to visit the property (some Banks ask for NIE at this Stage!!)
Then if you decide to go forward with the purchase, you have to fill a form (which in fact is a contract for you) applying for buy the property and giving a deposit . Be aware that these properties usually aren’t up to date with local taxes and utilities, and banks are not willing to pay this so you have to be informed of the situation before sign any contract. And add to the price all these payments.
There are banks which accept lower offers and in some cases the purchase is kind an auction. This is other proceeding.
The Banks have a period between five and ten days (depending of which bank) to decide, and bear in mind that they can accept or refuse the offer, it is their decision, because make the deposit gives you no right over the property.
Also, if you need financing, you have to give some documents and applications to them and read carefully all the term and conditions of the mortgage offer.
This is only an overview of the procedure, which can be more complex depending of the Bank, I think it is enough difficult if you speak Spanish, but if you don’t, it can be kind of a hell to understand the bank agents, terms of the purchase and situation of the property.
That’s why we are here, to help you in every step you take, we are not going to tell you which property is best, neither which bank, but once you tell us which property you want, we will dedicate every minute to make the procedure smooth and safe, assuring no misunderstanding and giving you all the information.
Our target, your legal security
David Lorenzo-Spanish Lawyer UK
Spanish Law | Birchall Blackburn
dxlorenzo@birchallblackburn.co.uk
www.birchallblackburn.co.uk www.spanishpropertiesintheuk.co.uk www.spanishlawintheuk.co.uk
<:footer>ReadBut ,please, be aware that in www.spanishpropertiesintheuk.co.uk we are not selling you or anybody properties, we are not a State Agency, and we don’t work for any State Agency, neither for any of the banks offering Properties.
Our aim with this website is to show the big opportunities in the Spanish Property Market, and the decision about buy or not and what to buy is entirely yours.
We are independent lawyers specialized in foreign property and Birchall Blackburn is authorised and regulated by the Solicitors Regulation Authority. If in www.spanishpropertiesintheuk.co.uk you find a property you are interested in buy and you decide to engage our legal services, we will very happy to help you, but of course you are free to choose other firm. Anyway, thanks for visit us.
