Tips for Spanish property buyers
2. if you are buying off plan, demand the following before signing anything:
- Bank guarantees for all payments made during construction (Confirmation in writing that you will get them)
- A copy of the building license
- Occupancy license on completion "Cedula de Habitabilidad", & "Licencia de primera ocupación". If this documentation cannot be issued to you by the developer / builder on the day of completion, you are not obligated to make final payment. Without these certificates, utilities cannot be connected and technically you are not permitted to occupy the property. Banks therefore will not want to sign the mortgage over to you and your home insurance company may not wish to offer you coverage until you can provide them with the certificates.
- Do not settle for water and electricity supplied by the builder either as a temporary measure. If it is possible wait until all documentation is correctly provided and your lawyer is confident with instructing you to complete.
- Get all of your questions answered and backed up in writing. Think your purchase through and do not allow anyone to pressurize you. If it looks like you are becoming a victim of a hard sale, maybe it is worthwhile seeking another agent or developer. Remember it is your money and you are in control. Do not settle for second best.
- DO NOT SIGN ANYTHING until your queries are answered and your lawyer has instructed you to do so. A good agent / developer will understand that a lawyer is simply doing his / her job and will understand the time that is required to make sure you are protected.
- Always use a lawyer. You would not refuse to use one in the UK........