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Nobody understands better than us the complications, frustrations and concerns about buying property in a foreign country. Not only is the purchase process different in each country, but to claw though legal terminology in a foreign language can be, frankly, completely overwhelming.
To start the process we offer a free incident search analysis of the property which verifies if the property has any existing debts or limitations against it or other legal implications which could affect your purchase or cause problems after the purchase. This report includes legal actions against the property and the land (if any), missed payments, bank seizures, mortgage status of the seller and verification of the current owner/seller.
After analyzing the registration status of the property through the Land Registry, our legal time will then proceed to draft the appropriate contract between the buyer and the seller. This ‘Contrato de Arras’ will consist of a pre-agreement to purchase the property and to ensure that both parties will fulfill their obligations in a timely manner. It also allows you to ’reserve’ the house purchase and inflicts penalties on the property owner should they not proceed with the sale. The document also includes the agreed buying price, the conditions of the purchase and all anticipated or potential ‘roadblocks’ or hurdles with the property transfer (and the duties of each party to overcome common obstacles such as the existence of further mortgages, liens on the property, urban provisional settlements, unpaid taxes, unregistered property deeds, inheritances, rental registrations, etc). This contract is 100% assurance against any malpractice, deception or fraud on the part of the seller and is a safeguard against hidden debts or defects in relation to the property.
Once the ‘contrato de arras’ is in place, all necessary paperwork and original documentation is collects and we start to redact the official sales contract. This process is zealously overseen by our legal team to ensure a zero risk sales transaction.
Equal attention is focused on financial institutions and the mortgage process to detect, warn of, and prevent any abusive practices on behalf of the lender.
We believe in extra vigilance and preventive measures for all our service and the coverage offered by our legal team is 360 degrees. Anticipate, prevent and solve not only the current and future problems that the property itself could have, but also financing and banking issues that could arise. Each party in the sales process has their own agenda, and ours is to ensure your best interests are 100% covered.
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