Page 11 - A guide to buying a new property in the Balearic Islands
P. 11
A Guide to buying
Balearicislands
new property in the
Enquiries and Searches
4.
Before the main contract is signed and a full deposit paid, it is essential to
complete all searches and legal enquiries.
These investigations achieve several objectives:
1. Land registry searches con rm that the sellers own the property
being sold.
It is important that the person or persons signing a sale contract are
those people who appear as registered owners in the Land Registry.
It is not uncommon for buyers to sign Contracts where the sellers
are ordinary property agents and not Attorneys formally appointed.
Money is paid to these agents who are not in a position to transfer
the property into the name of the buyers. This situation can cause
potential problems and the risk of the buyer loosing the deposit paid
in certain circumstances.
2. They con rm whether or not there are mortgages or other
charges registered against the title.
If this is the case then written in the contract there must be
assurances that such charges will be removed prior to completion.
On completion, the buyer’s legal representative should ensure that a
clear title is being conveyed.
3. Further general enquiries ensure that all planning consents
are in order and that no other debts are outstanding against
the property.
11
