Property Transactions: Legal Compliance and Contracts

If buying or selling a property IPTW will be by your side throughout the process.

Buying a property

Depending upon your objectives, residency desires and tax considerations IPTW will guide you through the purchase process:

 

Purchase price negotiation: IPTW by applying local knowledge and understanding the transaction situation will make sure you get the best price for the property you are buying, always looking to maximise the return of investment perspective of the purchase.

 

Due diligence: ranges from making sure title and permissions are all in order, to ensuring that all property and vendor expenses are upto date or deducted from the sellers funds at closing.

 

Arras Contract: is a private but fully enforceable precontract arrangement whereby the purchaser typically pays a 10% deposit and then has anywhere from one to six months to complete, giving time to the purchaser to finalise their financing arrangements, complete their searches and due diligence and organise the closure of the transaction.

 

If the buyer pulls out for a reason not considered in the contract they lose their deposit and if the seller pulls out they have to repay to the seller their deposit plus the same amount again as compensation.

 

Financing: typically an offer will be in place before Arras and so the details of any mortgage financing are finalised during the arras contract period. However there are additional financial considerations that need to be considered to make sure the transaction does not cost more than is necessary in bank commissions and FX charges that can run into thousands of Euros.

 

Final Escritura: is always signed before a local notary and everybody related to the transaction turns up to make sure they get their moey due from the transaction. So that includes the vendor, their mortgage provider, the real estate agent, the purchaser, their lender and even the building or community president, and of course all their advisors. Its daunting so make sure IPTW are by your side to ensure that all goes smoothly.

 

We have a detailed pdf and video regarding the purchase process (call to action to download)

Selling a property

To get the most out of selling your property you need to consider a number of items to make sure you get the best sales price and the smoothest sales transaction:

 

Prepare your property: prior to selling invest in getting your property to the best possible standard to sell, that means tidying up unsightly damages and get the maintenance up to date.

 

Realistic valuation: a valuation is a subjective exercise

 

Make sure you’re up to date with all the bills

 

Select your sales agent

Contact Our team of advisors


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