The most important points to consider in a home purchase contract in Spain

The house purchase agreement for a pre-owned property is essential to establish the terms of the transaction, ensuring a safe purchase without legal or financial issues. This document includes aspects such as the property's condition, tax and legal obligations, and warranties and responsibilities of both parties. Signing a contract provides peace of mind for a safe transaction without unpleasant surprises in the future.

One of the most important points to consider in a home purchase contract for a second-hand property is the property description. The current condition of the property, any possible renovations that have been made, and whether there are any charges or liens on it should be clearly specified.

It's also important to consider the tax and legal obligations that correspond to both parties. In this regard, it should be specified who will be responsible for taxes, deed fees, registration, and any other tax obligation related to the purchase.

Another crucial point in a contract for a second-hand property purchase is the legal status of the property. It's important to verify that the property is free of liens and encumbrances and that its legal situation is correct. In this regard, it's recommended to request a property report before proceeding with the transaction.

It's important to note that when a buyer purchases a second-hand property, they are purchasing it "as is," regardless of any potential defects. There is the concept of a "hidden defect," and if discovered after the purchase, the buyer has a period of 6 months, starting from the notary's signing of the deed, to claim against the seller.

When signing a contract for a second-hand property purchase, it's important to consider the property description, tax and legal obligations, the legal situation of the property, and the warranties and responsibilities of both parties. Verifying all these points will allow you to make a safe transaction and avoid future problems.

At Valido Home, we manage the entire purchasing process, so you don't have to worry about anything. We also offer a physical inspection of the property so that you can know all of its defects before making the purchase. Trust us and enjoy the peace of mind you deserve when acquiring your home! Contact us now and find out how we can help you.