Purchase of raw land for subsequent development is a very serious business, which should be supervised by specialists.
Drumelia Real Estate collaborates with qualified lawyers in Marbella who are responsible for verifying all the documents relevant to the property such as; existing urban plan regulations, availability of encumbrances, debts and the seller’s rights of ownership. Also lawyers should pay special attention to studying the future development of the project and its legality. Furthermore, the cadastral certificate, as well as the availability of land easements (Article 530 and further of the Civil Code of Spain) require additional verification.
Often such an “audit” can take several weeks, but this is the case when a buyer spends the time that could save considerable unexpected costs and further requirements. In the transactions related to the acquisition of raw land, completing the buyer/seller contract correctly is of great importance. It allows the buyer, after paying an agreed deposit amount, to check all necessary documents, without compromising the amount paid. In case of hidden faults or irregularities, this deposit is to be returned to the buyer accordingly. A clear definition of the responsibilities for both parties (the buyer and seller) is the key to the effectiveness of this legal procedure. Of course, in the Spanish legal system oral agreements and contracts can also be considered (Ruling of the Supreme Court of Spain, number 7/2013, dated February 5). Yet the presence of a written document provides much more guarantees.
At this stage of the transaction qualified legal aid is a guarantee that the construction at the plot will be acquired in accordance with the law, contractual obligations and without any unforeseen claims and litigation.13/10/2016