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Legal & Finance Assistance
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Probably the most important part when purchasing a property is the financial side.
Finding a property to buy is going to be the most enjoyable leg in the journey towards your dream.
Gewaway Villas are here to take the burden and worry from you of handling the financial side, as we are experienced throughout the entire purchasing procedure.
However, it is still very important for you, to be made aware of how the system works, this is why we have set out the list below but
dont be put off by it all, as not all can apply to everyone as every circumstance differ and remember we are here to manage everything for you........
STANDARD PROPERTY PURCHASE PROCEDURE:
Normally the purchase is initiated with a reservation agreement, which takes the property off the market. The deposit to pay at this state is 3.000€, this amount is held in a client account by the agent. Do make sure that you obtain receipts. Then your lawyer will begin to check the registration of the property "NOTA SIMPLE" which will show if there are any charges against it. Within a week or two a private seller agreement or option is signed between the purchaser and the seller. The seller and buyer's lawyer together with the agent should determine all outstanding debts and rates in order to arrange the payment of these according to the agreement.
These could be property tax (I.B.I.), community fees, telephone, electricity, water bills, etc. It usually takes 28 days from the day you have placed your deposit until completion. As the system is much simpler than in many European Countries, completions can take place within a few days and this is negotiable and depending on the agreement of both parties.
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