To complete the transaction of buying/selling a house, many people are required to be present – the Notary, the Buyers, the Sellers, the buyer’s Bank (if a mortgage is required) and the seller’s Bank (if they have a mortgage that has to be cancelled). That means a lot of people to get organised for the same day with different purposes.
In certain circumstances, the Buyer or the Seller will give Power of Attorney to a third person, meaning that the Buyer or Seller does not have to be present on the day of the transaction, however the person who holds Power of Attorney must be there to represent them. Spanish Solutions can hold Power of Attorney for clients wishing representation.
The new Escritura (Title Deeds) is printed and should be translated to the buyers and sellers. Then both parties present themselves in front of the Notary, who will read the Escritura again, and if everyone is in agreement, the Escritura is signed by the Purchasers, the Sellers, the Translator and the Notary.
Once everything is signed at the notary, then all the legal fees have to be paid in order to get the title deeds registered (this process may take from 1 to 2 months). If there is a Spanish mortgage on the property, then it must be the Bank’s solicitor who deals with the title and mortgage deeds registration. We can assist with translating at the Notary and payment of taxes due.