The 10 Crucial Documents to Review Before Buying a Property
Introduction:
Purchasing a property is one of the most significant and binding investments many people will make in their lives. Given the magnitude of this decision, it is crucial to be well-informed and prepared before proceeding. At Asesores y Consultores, we aim to provide you with a comprehensive guide to reviewing essential documents before finalizing the purchase of a property. This information seeks to ensure that your transaction is secure and free from unpleasant legal or financial surprises.
1. Simple Note from the Property Registry:
This document is essential for verifying the ownership and legal status of the property. Through the simple note, you can check if the property is free of burdens such as mortgages, embargoes, or usage limitations, thus ensuring a safe purchase.
2. Pre-existing Mortgage Status:
If the property is still under a mortgage, consider the possibility of subrogating the same or negotiating a new one with your bank. It is crucial to request a zero balance certificate to confirm that the previous mortgage is fully paid off before the purchase.
3. Certificate from the Community of Property Owners:
Before signing any agreement, verify that the current owner is up to date with community payments. This certificate, issued by the administrator or the president of the community, must confirm that there are no outstanding debts.
4. Statutes and Minutes of the Community:
Reviewing the community’s statutes and recent minutes allows you to understand the obligations and rights you will have as part of it, including any approved debt and its payment conditions.
5. Urban Situation of the Property:
It is prudent to consult the local town hall about the urban situation of the property, ensuring there are no irregularities that could affect your possession or future use of the property.
6. Property Tax (IBI):
Ensure that the seller is up to date with the payment of IBI, requesting the latest receipts. This tax reflects a legal responsibility of the registered owner at the start of the fiscal year.
7. Habitability Certificate:
This document is crucial to confirm that the housing meets the minimum habitability requirements and is authorized for use as such.
8. Energy Efficiency Certificate:
Since 2013, it is mandatory for the seller to provide an energy efficiency certificate, which is especially important in properties over 45 years old, as it details energy consumption and CO2 emissions.
9. Building Technical Inspection Certificate (ITE):
Confirm that the property has passed the building technical inspection, which is essential to ensure structural safety and compliance with current regulations.
10. Plans and Condition of Installations:
Finally, make sure to have access to the updated plans of the property and verify the condition of electrical, water, and gas installations, as well as the status of these service payments.
Conclusion:
Reviewing these documents will provide you with a solid foundation to proceed with the purchase of your new home and avoid potential complications. At Asesores y Consultores, we are here to help you navigate these processes with the greatest security and confidence. For more information or assistance, do not hesitate to contact us.