Lawyer – Real Estate
Antonio considers working with international markets to be the best part of being an English Speaking lawyer in Madrid. At Lexdy, he´s involved in assisting the Corporate & Real Estate Department with special focus in Immigration Law.
Hiring a lawyer for buying real estate in Spain is a wise decision. For most cases, you will need a lawyer for buying real estate in Spain. Property ownership is a milestone and a significant financial investment. Not knowing how the Spanish legislation works can make an already intricate transaction confusing
We can’t ignore the fact that many of the sales occurring during the height of the Spanish real estate market, prior to the crisis ended in judicial proceedings. It is a complicated process. In many cases misguidance will lead to economic damage to the parties involved. What if there is a breach of the conditions agreed for the sale? or having the existence of certain charges on the acquired assets that were not noticed at the moment of buying.
1.It’s a commitment
Buying your home is usually the biggest investment in a lifetime. Even those who have several properties, invest cautiously in the housing market, always employing the services of lawyer before making any move that might suppose a risk.
There are many financial interest and commissions involved. When buying real estate, a lawyer is the only party in the transaction that is truly on your side.
A lawyer has no personal interest in the outcome of your transaction other than making sure the client is taken care of.
For your involvement, when buying real estate, you want to understand the information and legal proceedings. Your lawyer will have prior understanding of the documents needed and will review and interpret them for you. A lawyer will keep tracks of important documentation such as the offer. Some documents include: the contract with the real estate agency, the binding offers from the Bank in case of a mortgage, and of course the Seller and Purchase deed itself.
It is important avoiding minor mistakes in the documents that can latter on create big tittle issues like significant delays in your transaction
3.Avoid problems and unnecessary surprises:
What happens if a property has a legal structure? Or if there is an issue with your deal?
A real estate Lawyer is equipped with the experience and training to handle issues and problems in real estate that many would not see forth coming. It is important, in the case of the buyer, to make sure that the property to be acquired does not have any hidden charges that could bring you problems in the future. A lawyer is there to ensure that the conditions agreed with the Seller and Bank are as beneficial as possible and of course, that do not contain abusive clauses.
The process of buying a house is complex, and most people find it’s easiest with an experienced lawyer by their side. As the buyer, you are excited to have found the property of your dreams, and that is what you SHOULD focus on. The complicated aspects of buying real estate in Spain is second nature to an experienced lawyer. What’s more, Lawyers come with the know how: contacts with good inspectors, mortgage loan brokers, etc.
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