A number of years ago, I offered to take on
the conveyance on the purchase and sales of properties in Spain, this at
reduced fees. When contracted by a
client, we would firstly negotiate my fees.
I am learning that this is not a wise move on my part. I would then commence on the process of
submitting requests for the legal documentation required. Sellers should be aware that the law insists
that the real estate companies should, amongst other things, be in possession
of the vital ‘nota simple’. Unfortunately
my services are called upon usually after; the two parties, (vendor and
purchaser), with the help of the real estate involved have reached an
agreement.
What can go
wrong? Most appear not to read the ‘nota
simple’. This document is crucial. You can of course check the details of the
property on the title deeds. This
document will have been drawn up and registered, when the property was
previously bought, by the now would be vendor. Many years may have passed and the status of
the property changed. It is a very
common occurrence, for owners to either expand their home or change the layout
of the dwelling, closing in a porch or a terrace here and there, changing the
basement to provide an extra bedroom or bathroom, built a swimming pool,
extended the kitchen or lounge.
Do not
be surprised if these works, which are sometimes carried out with the use of an
architect, are then never legally registered. The owners may have even taken out a loan on
the property to pay for the works. The
title holders may have unknowingly incurred a debt and now have a charge on the
property.
For all the
reasons mentioned above, and many more.
It is imperative to obtain an
up to date simple note (and that is exactly what it is) and study it. When I request an up to date copy, I will
often find that the details of the property inscribed, (excepting for the
address) will have no relation whatsoever to the property the purchaser has
viewed and decided to buy. Take note; just
because a property is registered with its title deeds, it does not follow that it
is legal to sell or that the promoter had a licence to build it in the first
place. This usually relates to older
second hand properties but now often includes new builds.
Outcome: If
the detail on the simple note does not match the property exactly, I could and
have been faced with what could have been a fait accompli but has normally
resulted in that I find myself, taking on extra and time consuming tasks. It is very important to understand that property holders affected can lose
the sale. The willing buyer, who may
have paid a reservation fee on your property, can now go elsewhere, if you
cannot remedy the discrepancies rapidly. Remember, that the person who is acting on
your behalf and in this case myself, will now be subjected to all types of
bureaucracy and extra expense to find the correct and legal solutions and to
put these into place, allowing you to complete the transaction.
Anyone who
is considering placing a property on the marketplace should be aware of all
these facts, before walking into the first selling agent’s office.
There is a
debate at present as to whether the increase in vigilance on our roads for traffic
infractions, is more to do with the collection of funds than road safety. This reasoning is based on the fact that where
the most fatalities in road accidents occur, is where there is less, or zero radars.
These detectors appear to be placed in
areas where it is more likely to ensure the collection of funds from fines. 
