Although it is not mandatory to buy property in Spain assisted by a lawyer, it is highly advisable that you do; particularly if you are a non-resident. Lawyer and regular contributor Raymundo Larraín Nesbitt takes us through the advantages of having legal representation when you buy a property in Spain, and introduces the services of his new legal practise in Spain.
By Raymundo Larraín Nesbitt
Lawyer – Abogado
8th of November 2016
You would never buy a property in the UK without instructing a solicitor or conveyancer and yet a surprising number of people choose not to instruct a lawyer or legal representative when buying abroad. If anything, it is even more important to obtain good legal advice when buying overseas as it is highly likely that you will be unfamiliar with many of the key processes.
While it is possible to buy a property in some overseas jurisdictions, including Spain, without having to appoint a lawyer, it would be very unwise to do so. Buying a house is one of the biggest investments most people make in their lifetime. So why take the risk by not obtaining proper legal advice?
Only a qualified and registered abogado (solicitor) can give you legal advice in Spain. Beware of intruders posing as lawyers who meddle in conveyancing. The golden rule is to always ask a lawyer in Spain for his registration number (número de colegiado).
Buying Property – Avoid Horror Stories
1. Legal independence. Larraín Nesbitt Lawyers is totally independent. You should avoid using a lawyer recommended by an estate agent and most certainly never use the developer´s own lawyer. If it is gratis, it is for a good reason!
2. Registered professionals. Larraín Nesbitt Lawyers only employ qualified and registered Abogados. Registered abogados are subject to disciplinary action by the Bar Association so must conduct themselves honourably to continue practising else risk being barred.
3. Professional Indemnity Insurance. Registered lawyers have Professional Indemnity Insurance in place in the event of malpractice or negligence. Currently this cover stands at €800,000 with Larraín Nesbitt Lawyers.
4. No language barrier. All our staff speak and write English fluently, besides other languages. Nothing will be lost in translation!
5. No hidden extras. We will provide you with a written quote so you are sure that there are no unpleasant surprises. We will provide you with a clear breakdown of costs in English, or your chosen language, beforehand.
6. Free escrow service. Larraín Nesbitt Lawyers keeps a separate client account.
7. Accountability. We will give you an invoice, statement of all expenses and written advice. Larraín Nesbitt Lawyers will put everything in writing.
8. Transparency. You will receive a written report in English, clearly setting out the terms of your contract, with a description of the property you are buying including any community facilities, such as pools, golf course etc.
9. Ongoing communication and post-service. For resale properties, your lawyer will inform you about the description as described in the Nota Simple and Title deeds. Remember; it is your responsibility to check the description of the property carefully with what you have seen and inform us if there are any differences. Some building reforms are undertaken without proper approval (unregistered property extensions) and there is no way for your lawyer to know about this. Which is why we recommend arranging a snagging list beforehand.
10. Conveyancing can be arranged in your absence. If granting a Power of Attorney, our law firm will ensure you understand what powers you are giving and for how long those powers last. Normally the powers you give your lawyer are on-going unless you expressly revoke them.
Hiring a seasoned lawyer, in my experience, pays for itself on all the money you stand to save on avoiding the most common pitfalls.
Because impartial legal advice is priceless.
“Managers keep the rules, leaders break them.” – Sir Richard Branson.
English business magnate, investor and philanthropist. Founder of the Virgin Group which controls more than 400 companies.
Legal services Larraín Nesbitt Lawyers can offer you
Please note the information provided in this article is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.
2.016 © Raymundo Larraín Nesbitt. All rights reserved.