In recent years we have seen how law firms and specialized consultancies increased their marketing campaigns on internet search engines, in order to offer Conveyancing services or also called transmission du patronage to the foreign investor market.

WHAT DOES THIS TYPE OF SERVICE CONSIST OF?

 

Generally, it is a complete and global service provided by a professional (Economist or Lawyer) who ensures that the sale of a property comes to fruition and ends with all the guarantees for the buyer.

We have already explained in previous articles the problems that investors may encounter when buying a property due to the existence of charges registered in the Property Registry, which limit or violate the real estate asset and, among others, we can highlight:

- The existence of Mortgages.
- Credits from third parties (unpaid local taxes, commercial credits, debts guaranteed by the property...).
- Rights of use (usufruct, lease contracts...).
- Right of first refusal and withdrawal, etc.

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TO BE CALM.

 

Let us think that they usually intervene in a real estate operation:

- The seller, owner of the real right (housing).
- The Real Estate Agent or intermediary.
- The buyer.

 

Many times the interests of these parties collide and it is important that they all act in good faith, transparency and in accordance with the principles of legality and the legal requirements of the country where the real estate assets are acquired.

Knowing these and having a legal representative duly empowered by means of a power of attorney is of vital importance, and above all, having good and reputable professionals who can communicate all the necessary information in the investor's native language.

Well, the buyer increasingly requires this type of professional services, because they provide additional security and accompany him all the way until the end of the process and even after-sales.

The investor buyer hires security, legal support and advice and this is what this type of professional services provides.

YOU CAN'T ALWAYS FIND EVERYTHING ON THE INTERNET.

 

We know that the internet provides a lot of information to those interested for free but, unfortunately, it is not always complete, updated or verified information.

An example of this is the obligation to obtain and present the buyers' nies at the time of purchase.

Most of the information that circulates on the internet emphasizes the obligation to have a N.I.E (foreigner identification number) before the moment of purchase, given that, otherwise, the notary would not give his consent to make the agreement public. agreed in writing.

Well, that information is incorrect since the sale can be signed, although it is important to emphasize that you have a month to obtain those tax identification numbers to be able to prepare and present the taxes that accrue with the purchase and other things. as essential as opening an account or taking out home insurance.

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CHOOSE A PROFESSIONAL.

 

It is the job of the professional to refute and verify all the contractual terms and conditions of the purchase

(earnest money contract, existing charges on the property, preparation of the signature at the notary's office, obtaining nies, verifying the tax residence of the seller, interceding between the agent and the buyer, representing him before the Tax Agency and public bodies and any other ancillary need inherent to the purchase, such as opening a bank account or reviewing the financing conditions, if applicable).

In addition, within this equation, there is inevitably the question of taxation and taxation and profitability and therefore, more and more, a profile of professionals is required who contribute to all this set of services, prior financial-fiscal planning, to optimize investment.

Currently, the company Abahana, a leading company in the sector of asset management under the holiday tourism regime in the Province of Alicante, has two specialized and complementary departments in its workforce for this type of service, which offer, on the one hand, the Advice service on the purchase and sale of real estate and on the other hand, the tax-fiscal department that guides the investor in the purchase or sale process from the beginning to the end.

Moraira March 24, 2022

Gabriel Díaz García
Colegiado Economista de Alicante 3611
European Financial Advisor