Real Estate Blog

How do I reserve and buy a house in Alicante?

How do I reserve and buy a house in Alicante?

Well, you have already found the house you like, now you are going to take 2 important steps, first reserve it and then buy it.


1.- Reserve.

To ensure the option to purchase your home, it is necessary to sign a reservation contract or down payment with the seller.

Before signing it, it is advisable to check:

* The status of charges (debts) on the home. It is necessary to know if the house is free of charges, if there is a mortgage that must be canceled or if there is any foreclosure. Ask your real estate agent for the simple note to help you with the checks.

* Who signs as a seller. Verify that you are indeed the owner and if there are several, all of them must sign it.

* Price. It must be clearly specified as well as your form of payment.

* Arras. This is the name given to the amount delivered in the reserve on account of the price. The usual ones are the penitential arrears that you lose if you back down on the purchase of the house, if the one who cancels the agreement is the seller must return them to you in double their amount.

* If you buy a new construction house you have the right to ask for a guarantee for the quantities delivered.

* The expenses of the sale. The parties can agree as they are distributed, in Alicante the usual thing is that they are in charge of the buyer, with the exception of the capital gain that by law corresponds to the seller.


2.- Purchase at a notary.

Although public deed is not mandatory, it is highly recommended.

* The public deed provides legal certainty since the notary proportionally verifying that the content of said deed conforms to legality.

* It is a reliable document since buyer and seller confirm before notary their free will to buy and sell.

In the act of notarial signature, the notary checks and reports the following aspects.

- Reports the status of the property charges.

- Check the identity and capacity of buyer and seller.

- Ask for the proof of payment of the last IBI (property tax) and the cadastral reference number of the property to check them and warn the parties of possible discrepancies.

- Confirm that the house is up to date with payments to the community of owners.

- Informs the buyer and seller of their tax obligations regarding the sale.

- Informs about the distribution of the expenses of the sale between seller and buyer.


In addition, notaries offer the service of registering the deed and tax payment for you.

After signing at the notary, do not forget to register the deed in the Land Registry.

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