GUARANTEES PROVIDED BY THE LAW IN THE PURCHASE OF YOUR NEW HOUSE

A. Downstream of the sums paid as a deposit. The promoters are required to guarantee the refund of advance payments plus interest whenever the building of the house has not started or not been completed within the agreed time or whenever the project has not received the certificate of habitability. It can be endorsed in a general way for all purchasers and all sums paid or in an individual way. In any case, it is obligatory and the promoter is obliged to carry it out without requiring additional payment. In this way you will have the guarantee of being able to recover your money if the promotion were not completed.

B. Possibility of free choice of the banking entity to carry out the mortgage registration. The cancellation of the mortgage registration and the payment of the insurance on the sums paid as deposit will always be the responsibility of the vendor. The expenses cancelling the loan will be the responsibility of the vendor.

C. Responsibility of the various people who take part in the construction. If you buy a house in Spain, you have the right to make a claim from all the parties concluding the construction and the sale of the property if the agreements were not accomplished. It would seem necessary here to clarify the difference between promoter and manufacturer. The first deals with the financing of construction, usually it is he who directs the rest of the parties. He can also be the vendor of the residences or even the builder; in any case, he will be responsible for building defects and, with the builder, the first who must guarantee it. This is why, before buying a house, it is advisable to know exactly who will be the promoter and the builder, whose solvency and prestige will be the guarantee of a good purchase.

D. Possibility of choosing the notary to carry out the deed of ownership. The vendor cannot oblige the purchaser to carry out the act of property before a given notary.
In the same way, the vendor cannot require you to choose a given banking entity to carry out the mortgage registration. If you wish to change your banking entity or notary, nobody will have the right to ask you for an additional payment.

E. Right of information. The vendor must provide you with all information concerning the plans of the house, its description, its actual surface area, the description of the building and community if necessary, information about the registration of the property in the land register, complete information on the price and terms of payment. All this information will have to be mentioned in the reservation or sale contract or in another document so that you can demand it if necessary.