Some requirements to buy a house: Notary

What are the requirements for buying a house, what documents? What do you need to go to the notary? If you have already gone through the selection of the house you want to have, the visits, you have clear the way of payment that you will use, the negotiations, all the Process! Now that the time has come for the truth, when it will effectively become official, you do not know what papers are necessary for the entire change to be recorded correctly. Keep reading and you will find the requirements to buy a house that is usually requested at the notary.   We know that buy a property is not easy. Before that, we always recommend that you have the support of a real estate professional, because it can guide you with your knowledge and professional experience through a process that seems easy but not really.

Everything starts coming to agreements

• Speaking is how people are understood. And that is the private contract, a document that reflects nothing more or anything less than those clauses and economic needs to which the two parties have arrived for the sale (the agreed price, the method of payment, the applicable tax, the distribution of expenses... ). This document is the one that is then taken to the notary, to verify its officiality. • Once you are in Notary's... As mentioned in the article, the act before the notary includes the verification of the capacity and legitimacy of the parties. The energy certificate (reflecting what is in the contract of purchase) Is verified, proof of the payment of the last IBI, certificate of the community of owners, and in some cases, when it is new work, copy of the ten-year insurance...). In addition to the above, the description of the house and its state of charge must be included In the writing. The necessary documents or requirements are provided so that the buyer can finally make his/her property, which are the DNI, the occupation, the marital status...

What happens if the buyers are foreigners?

In the case of foreign buyers, who are very common in Tenerife (as well as in all Spain) The first thing is a NIE document , or foreign identification number. This is the National Police. Another thing to take into account is if the seller is not a tax resident in Spain is the obligation to make a withholding of 3 at the time of the signature of the notary. In some cases, when the retention of 3 is made, the municipal capital gains are also generally retained. This is a rate on the increase in the value of the land. There Are expenses related to the paperwork and requirements to buy a house, which you can see in this article. There Are the derivatives of the purchase such as the ITP or VAT, notary expenses, registration of the Property, expenses/taxes related to the mortgage constitutes (if that was the means of payment) and those that derive from it. One of the tips that most emphasizes the broker in his video on the documentation required in notary is to have the support of a specialized consultancy, as we at the agency prefer to have. Thus, we present a forecast of funds, which is only a delivery on account that contemplate the necessary steps of all the documents that have to be updated when buying a house, such as to collect the original writing, to register it in the cadastre, to make the Retention of 3 if necessary, pay the surplus value, change the ownership of the water, the light... If you have any questions or queries, don't hesitate to contact us! If you would lik to now the difference between The market value and the price of a property, follow this link