documents needed for mortgage

What documentation do I need to buy a flat?

Buying a home is one of the biggest investments we make throughout our lives. It is, therefore, an important moment on a personal and financial level, which is often full of illusion but which also implies assuming responsibilities and obligations at an administrative and economic level. And it is that, in addition to the amount of the house itself, when formalizing this operation we must also assume other expenses related to the Notary, the City Council or the Property Registry. Therefore, and before making the final decision, it is advisable to inform ourselves well about the process of buying a home and about the documentation necessary to buy a flat.

At Sky Marketing we are experts in real estate services, and we offer our clients advice to find and purchase a house according to their needs. In this article, we explain what steps you should follow and what documents you need to buy a flat or a house in your city.

What documentation should I ask for before buying a home? 

Before buying an apartment, you should find out about different aspects related to the property and its outstanding charges.

If the home belongs to a private individual, you should know:

  • What is the registration number to verify the ownership of the apartment?
  • If the home has mortgage charges or is pending repossession.
  • If the apartment is up to date with all payments in the Community of Owners.
  • If the apartment is up to date with the payment of the Property and Real Estate Tax (IBI).
  • If the floor has its Energy Certificate to verify that it meets the energy efficiency requirements.

If the property belongs to a developer, the documentation that you must request before making the sale is:

  • The technical project, building license, certificate of occupancy and certificate from the Property Registry.
  • Statutes of the Community of Owners.

Where to request the necessary documentation to buy a flat 

  • Both the Property Registry number and the Energy Efficiency Certificate must be requested from the current owner of the home.
  • To find out if the apartment has mortgage charges, you should consult the Simple Property Note, a document that you can get at the Property Registry Office or through the Internet.
  • To find out if the apartment is up to date with the payment of the Community of Owners fees, the best option is to consult directly with the president of the community or with the administrator of the property.
  • If you want to know if the property is up to date with the IBI payment, you will have to go to your Town Hall.

To this end and once you have this information, the steps you must follow are:

  • Go to the Property Registry to obtain all the legal information about the home.
  • Go to the Town Hall to find out both the legal situation of the building and if the property is part of a future urban plan.
  • Make an appointment with the Notary to deed the property and make the purchase contract.
  • Register in the Property Registry the deed of the apartment, on the one hand, and that of the mortgage, on the other.
  • Go to the Cadastre of your locality to change the ownership of the home.

What documents do I have to bring to the notary?

The moment of signing before a notary is, possibly, the most important when we buy a house. The documentation necessary to buy a flat and that you will have to take to the Notary’s Office is:

DNI / CIF or residence card

This document must be current and must be kept by all the people involved in the signature, that is, both the buyer and the owner, as well as possible guarantors or representatives.

Power of attorney

This document is only necessary when a third party acts on behalf of some of the participants.

Last receipt of Goods and Real Estate 

This document is mandatory in second-hand homes and you have to request it, as we have indicated, at the City Hall where the home is located.

Certificate of the Community of Owners

This document serves to corroborate that the apartment that you are going to buy is up to date with the payment of the Community’s receipts, and it is essential for the owner to have it before the purchase to know if they should assume any expenses in this regard or not.

Personalized Information Sheet and Binding Offer (FIPER) 

This European standard document must be given to us by the bank (or sent to the notary) and it is used to verify the conditions of the mortgage. Despite not being a mandatory or binding document, it is advisable to bring it to the signature in case doubts arise.

Writing eraser

In the days prior to the sale, and if we wish, we can request a draft of the sale deed at the notary’s office (without legal validity) to check that everything is correct.

You can read more about the price of the deeds of an apartment.

What documentation do I need to buy an off-plan apartment?

All the above documentation is important to buy a second-hand home, a home between individuals or a home from a developer. But, does the same thing happen when we want to buy a home “off-plan”?

In this case, the documentation necessary to buy a flat is somewhat more exhaustive, as it is essential to verify the legality of the home and the project under construction.

The information that the promoter must provide to the buyer is:

  • Building License, Technical Certificate and Project approved by the City Council.
  • Registration of the building in the Property Registry.
  • Certificate from the Mercantile Registry that certifies the existence and activity of the company/company promoting the work.

Other documentation that the promoter must make available to the buyer and that must be present in the sale transaction is:

  • Plan of the house.
  • A detailed description of the same (useful area, description of the building, etc.).
  • The memory of the property and description of qualities.
  • The total price of the house.
  • Safeguard of amounts delivered as collateral.

In addition to all these documents, other procedures, procedures, and expenses that you must assume before buying a flat are:

  • Pre-contract. Some prospective buyers drafted a “preliminary contract” ford taller in advance the details of the transaction, the amount, payments, etc. . This contract may include the delivery of an economic signal as a “reserve” of the property.
  • Deposit contract. There is also the possibility of signing an « Arras Contract «, a formula regulated by the Civil Code and which, like the pre-contract, allows you to “reserve” the home. The amount paid as a signal ranges between 5 and 15% of the value of the apartment, and commits all parties: if the buyer “backs down”, he will lose the money given; If the seller is the one who terminates the contract, he must give the buyer twice the amount of the reservation signal.
  • AJD. The formalization of the mortgage contract generates a document known as a Documented Legal Act (AJD) and that costs 1% of the amount registered in the home.
  • Appraisal. The home appraisal is another of the documents necessary to buy a flat. Its cost can range between € 250 and € 350.
  • Property Transfer Tax and VAT. The payment of this tax is mandatory and its value changes in each autonomous community. As a general rule, its cost is equivalent to 5-10% of the value of the home. You will also have to pay the VAT of the transaction: 10% of the notarized value and 4% in protected homes.
  • Renaming of the flat’s supplies (gas, electricity, water, etc.)

Are you thinking of buying or selling an apartment? At Tajarat properties we are leaders in online real estate services and we advise our clients in all Spanish provinces. We hope that this article on the documentation necessary to buy an apartment has been useful to you, but if you have questions, contact us to resolve them.

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