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Selling your property

   
 

Decreto 218/2005

Finally the Estate Agents in Spain are being regulated, thus ensuring that advertised properties have been screened and paperwork checked. Failure to produce this documentation will incur fines of €3,000 to €400,000. Below is a summarised version of just what this documentation is for...

The Decreto applies solely to professional intermediaries who are "in contact with buyer or rental clients". If a property portal does not come directly into contact with buyer or rental clients, then it does not need to comply with Decreto 218/2005. Please note, that "private owners" who offer their homes for sale or rental are also not subject to the Decreto.

Please note also, that all professional intermediaries advertising on a property portal (or, by the same criteria, a newspaper, magazine, or other advertising medium), must keep in mind Article 5 of the Decreto (which stipulates advertising requirements). There are information requirements required of professionals who advertise their properties. Any property offered to clients and to the public must have all relevant documentation and information, as indicated in Decreto 218/2005.

To keep things simple, for now, the rule of thumb is that if the property is located in Andalucía, then the consumer-protection legislation of the Junta de Andalucía is applicable. We need to keep in mind that, sooner or later, a consumer-client will be entering Andalucía in order to sign for a property (either directly or with a legal representative). Please note that the strength of Decreto 218/2005 lies precisely in the documentation and information that must be given to a client, AS WELL AS in the protocol requirements. Be it for sale or rental properties, there are specific submission requirements of required documentation.

The documentation must indicate:

o If the property is off-plan, in construction or already finished

o Location

o Details of the developers

o Number of houses

o Usable area

o Taxes and any other charges the consumer will have to pay

o Community charges

o When payment of certain amounts is forecasted, prior to or during the construction, it will be expressly mentioned that the anticipated amounts will be guaranteed according to the law.


New Properties (completed but not 2nd hand and bought from the developer):


· If it has got all the necessary licences allowing the use or occupation of the property

· Registration details of the property / Up to date charges on the property

· In the case of a property under the Horizontal Property Law (Ley de Propiedad Horizontal). The consumer is informed that there are, at his disposal, the Statutes and rules of the Communities of Owners

· Book of the Building

· Information is provided on the insurance policies stated in article 19 of the Building Law 38/1999

· The supporting documents of the contents of this Informative Document are available to the consumer for consultation.


Resale Properties:

· Address of the property

· General description of the property

· General description of the building or development

· Financial:

i. Total price / Price of the annexes / Taxes that according to the law are payable by the buyer / Payment method / Validity period of the price/

· Land Registry:

i. Owner's registration details / Up to date charges on the property /Subjections, if applicable / Built or usable

ii. This information must be supported via nota simple

· Year of construction of the property

· Percentage of the Community of Owners' fees, if applicable.

· If the building or development has got electricity access point, drinking water, telephone and gas.

· In the case of a property under the Horizontal Property Law. The consumer is informed that there are, at his disposal, the Statutes and rules of the Communities of Owner/Book of the Building/The insurances to which article 19 of Law 38/1999

· Certification that the property is up to date on Land Tax payments

Contact us now to sell your Spanish property…

Vision Investment Property Almeria
Spain +34 902 887 254  or +34 617587903  Ireland +353 1 5241926
United Kingdom +44 2070433590 Fax: +34 950950231
Email: info@vipalmeria.com

 


 

   
 
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