10 reasons why you need an independent Spanish lawyer when dealing with the purchase and sale of your house in Spain.September 18, 2023 10:58 am
Having a Spanish lawyer when buying or selling property in Spain is highly recommended and can be of significant importance for several reasons:
- Legal Expertise: Spanish property laws and regulations can be complex and vary by region. A qualified Spanish lawyer will have a deep understanding of these laws and can ensure that your property purchase adheres to all legal requirements.
- Power of Attorney: If you cannot be present in Spain for the entire process, a lawyer can act as your legal representative through a power of attorney, streamlining the process. Your lawyer will arrange for the complete process and ensure that your ownership rights are legally recorded after completion.
- Conflict of Interest: In many real estate transactions, there are multiple parties involved, such as buyers, sellers, real estate agents, and financial institutions. Each party may have its own interests and motivations. An independent lawyer is solely focused on representing your best interests, whereas others involved in the transaction may have their own agendas. This ensures that your rights and objectives are protected.
- Due Diligence: One of the most crucial aspects of buying or selling property is verifying that there is a clear title to the property. A lawyer can conduct thorough due diligence on the property to ensure there are no hidden issues, such as outstanding debts, liens, zoning restrictions or legal disputes associated with the property that could affect your sale or purchase.
- Contract Review: Your lawyer can review contracts prepared by third parties (i.e. estate agents) and draft contracts, ensuring that they are fair and protect your interests. They will also negotiate on your behalf to modify terms if necessary.
- Escrow Services: Lawyers can provide escrow services, holding funds in a secure account until all conditions of the sale are met. This helps protect both the buyer and the seller.
- Tax Implications: Property transactions in Spain are subject to various taxes and fees. A lawyer can advise you on the tax implications of your sale or purchase and help you minimize tax liabilities.
- Legal Compliance: Spanish real estate transactions involve various legal documents and administrative procedures. A lawyer can ensure that all documents are properly prepared, signed, and submitted to the relevant authorities in accordance with Spanish law. This will ensure that problems do not arise in the future.
- Dispute Resolution: In case any disputes or legal issues arise during or after the sale or purchase, having a lawyer on your side can be invaluable for resolving conflicts and protecting your rights.
- Local Knowledge: A Spanish lawyer will have a network of contacts and local knowledge, which can be beneficial in dealing with local authorities, real estate agents, and other stakeholders.
- Extra – Peace of Mind: Ultimately, having a Spanish lawyer provides peace of mind that your property sale or purchase is being handled professionally and legally, reducing the risk of costly mistakes or complications down the line.
In summary, hiring a Spanish lawyer when buying property in Spain is essential to ensure a smooth and legally sound transaction. It can help you avoid costly mistakes, protect your interests, and provide peace of mind throughout the process.
At Marc White & Co. we have a team of qualified Spanish solicitors who offer deep expertise and high-quality services. We are fluent in Spanish and English and will make sure to guide you and protect your interest during the complete process.
Get in touch with us:
firstname.lastname@example.org / +44 (0)117 946-7709
Categorised in: Spanish Law
This post was written by Pilar Cerrutti