The economic crisis led to a slowdown in housing construction in Spain. During the last two years it seems that the situation has turned around. In coastal areas are flourishing urban development.
It should be noted that the process of buying a new home differs somewhat from buying second-hand housing. In this case the seller is the promoter and housing can not be built yet, hence the operating present some differences.
In Barceló Real Estate we will list the steps so you do not miss:
In Spain it is common that the builder requests a signal that we want to buy the property as a reserve. This amount should be deducted from the total sale price. It is appropriate that all documentation on the monitor signal that your lawyer.
Signing a private contract that will indicate the end date of the work with the delivery of keys, and payments to be made to the promoter until that date (specifying whether these amounts is included in the VAT). The Act provides protection buyer for the amounts paid on account during the construction phase. The sponsor should endorse those amounts, as it is obliged to take out insurance and deposit them in a bank account separate from other funds.
When work is finished, wait the first occupation license or certificate of occupancy, which confirms that space as being suitable for housing and meets the safety requirements for supplies and services.
Community Statutes (if they exist, are not mandatory) and standards and service contracts and supplies. Sometimes these statutes can hide binding rules on the facades or house rules.
To do this you are prompted for the registry data to the promoter, or, where appropriate, consultation is done directly in the Property Registry.
The developer may have performed the work with their own financial resources or finance such hipotecándola promotion. Once the housing and if you need financing has two alternatives:
In any case, the developer can not force you to subrogation and should get another financing costs cancellation will have to pay the current promoter.
In Spain the sale culminates with the signing of the deed of sale and the mortgage deed if the purchase is financed with a mortgage loan (or other mortgage subrogation).
Information on the effect decennial insurance for damage to the building. It is good that in the new housing the developer has responsibility for housing defects. This responsibility is limited to 10 years it must be guaranteed with a secure called "decennial".
If you are looking for newly built properties in Orihuela Costa, in places like Campoamor, Cabo Roig, Mil Palmeras or Pilar de la Horadada, check out our catalogue of properties. Barceló Real Estate is part of the Barceló Group, a firm with over 20 years experience in the real estate sector.
Get in contact with us. You can phone us, send us an email, fill out the form on our website or stop by our offices in Ciudad Quesada.