Learn about the procedures of the real estate buyer

The buying and selling of homes in Spain is at a good time. On the contrary, there are several procedures that buyers have to carry out once they receive the keys to their home. What do they consist of and what additional outlay do they involve?

1. Deed of the property
Signing a public deed of sale to transfer a property is not mandatory, but it is very convenient for buyers. This is due to the fact that in private contracts there is no professional present to control the legality of the act, as is the case with the notary and the public deed.

2. Settle taxes
The signing of the deed of sale gives the buyer the obligation to pay taxes for the acquisition, which vary depending on the type of property.

Customers who have purchased a second-hand home have to pay the Property Transfer Tax.

3. Register the property in the Land Registry
Registering the property in the Land Registry is a mandatory procedure for all users who wish to access a mortgage. After the signing of the deed, the notary is responsible for sending a copy of this document electronically.

4. Change the ownership in the Cadastre
Another obligation that corresponds to the buyer of the property is to notify the municipal cadastre in which it is located of the change of ownership. This procedure can be done within two months from the signing of the purchase deed.
For this reason, the corresponding form must be filled in, which must contain the details of the new owner and the previous owner, as well as the property sold and the deed of purchase.

5. Register supplies
The purchase of a home entails the registration or change of direct debit of the property’s utilities, such as water, electricity and gas. The new owner is the one who has to take care of all the necessary procedures for its contracting, as these are personal and individualized services.

6. Pay Outstanding Bills
The existence of outstanding receipts is an issue that can affect many new homeowners. It must be taken into account that the payments are up to date since, otherwise, a problem could arise for the buyer if they go to register their contract and are not allowed to do so until the debt contracted by the previous owner is paid.