Selling or buying a home can bring many more problems than anticipated. Without going any further, during the brick bubble, many people threw themselves to acquire properties without thinking too much. This caused a very high level of indebtedness and many citizens found themselves in many problems to face their mortgage. It sounds very negative, but the truth is that many of these problems could have been avoided with an attorney. Keep reading our blog and we'll explain why!
The main function of the lawyer will be to advise you throughout the process of buying and selling a home . Many are reluctant to hire them due to their high cost. Above all, if it accumulates with the already abundant bureaucracy that characterizes this type of process : the procedures of the real estate agency, notarial and financial expenses, taxes ... It is true that a lawyer will cost you more, but it will also help you avoid many unforeseen events and to be able to react better to them .
Next, we tell you several reasons why the presence of these professionals is necessary:
Better understand documents: a simple signal contract , a mortgage or simply the deed of sale itself , are full of legal language that is difficult to understand alone. If you do not want to see yourself plunged into a sea of legal terms, it is better that you let yourself be advised.
Avoid unnecessary surprises on both sides : it is a manager who can make things easier for everyone involved in the operation. The buyer must try to ensure that the house does not have charges, while the important thing for the seller is to ensure the economic solvency of the buyer.
The process and influence of the lawyer
Signal contract: if as a buyer, you have the clear will to acquire the property, you would execute the earnest money. That is, you would pay a small part of the price as a reservation, discounted after the final price of the property. As we have said, it is important that you find out if there are any pending charges. To do this, you must go to the Property Registry to request a Simple Note . Later, you will have to make sure that there are no pending payments from the community, or from municipal taxes (for example, the IBI ).
In case there are charges, the price could be set according to them. Imagine that you plan to buy your house for 130,000 euros, but you discover a debt of 10,000 euros. In that case, you could pay 120,000 and, in exchange for that reduction, satisfy the payment of that debt. On the other hand, if the property is old, it is advisable to have an architect who values its condition. The lawyer could handle this process.
Mortgage loan: the lawyer can advise us so that we can obtain the best conditions (interest rates, opening commissions, terms ...) and also ensure that they are met. It is common for financial products linked to the mortgage to appear, such as home insurance, life insurance or even CAP coverage (which limit the rise in interest rates). All this must also be analyzed by the expert.
Deed of sale: this deed is full of legal terminology. The presence of the mediator ensures in this case the fulfillment of several functions: the request to the notary, the review of the drafts and the assistance on the day of the signature to your client in case there are unforeseen, doubts or suggestions.
