Firstly, you must make a formal offer by e-mail. If the other party accepts, a contract of sale is drawn up. This is drawn up by our solicitor. If both parties agree to the promise, it is signed at the notary’s office. It is usual for both parties to leave a cheque as a guarantee. If the purchase is financed by a bank, a copy of the promise is sent to the executive to arrange the appraisal of the property. Our office is responsible for obtaining all the certificates that the bank will require for the chain of title. It is the seller’s responsibility to provide the title deeds that the financial institution may require. If the bank approves the title deeds, it will draw up the deed of sale, which will be signed by a notary chosen by the vendor. When both parties have signed, the bank(s) involved sign(s). The seller’s bank must arrange the release of any credit. The buyer’s bank signs to fix the credit. Once the signing process is complete, the Notary will register the deed in the Conservador de Bienes Raíces. If the buyer is paying in cash, it is the buyer’s lawyer who will register the deed with this institution.
Both parties, landlord and tenant, pay 50% of the rental fee.
Both parties, seller and buyer, pay 2% of the price of the property.
This depends on a number of factors. A sale and purchase process with two committed banks takes 90 days. With only one committed bank, 60 days. With no banks involved, 50 days.