Choice of the Property

To choose a property that are intent to buy, must hold in account, of several factors:

   1.  The choice of the place - Bear in mind several aspects, like accesses, transport facilities, places of provisioning, social equipment (schools, hospital, etc), greens zones, solar exposure, sights, standard of property, etc.

   2. As far the property is concern, is necessary to analyze the quality of construction, the heat and acoustic insulation, the interior finishing's, existing space for the use to give to the property, etc.

Choice of the Real Estate Agent

Unfortunately still exist people without unspecified type of license acting as real estate agents, so, is advised each time that wishes to buy or sell a property, makes it through a licensed real estate agent.

If intent to sell a property, you should contact several licensed real estate agents, and to choose, that by their professionalism, false expectations of time and price. Not to forget that a professional real estate agent will have to know the market value of the properties in the sector or the sectors which operates. The commercial value of the properties is not the average of the value of the properties of each type in sale, but, the average of the actually sold properties of each type.

If on the contrary, intent to buy, after having made a neat analysis of the property which wishes, will also have in this case, to seek in more largest numbers real estate agents who will be able, to show you properties with the characteristics most approximate to the ones that are intent to acquire.

Must not be fascinated by a lower price, and remember most times a cheap property can become very expensive.

To analyze the agent that you're contacting, must observe its aspect, its offer, its professionalism, its availability, and the services, which lend before and after the realization of the deal. Ask for references!

If possible, compare the prices of the same property in several estate agencies. The most cases the same properties that are for sale, are in more than one real estate agent.

To inform itself in the Real estate agent which presents a property, if the present owner is not in situation of bankruptcy, nor runs against him practices fraudulent crime which makes ineffective the alienation of goods clean.

If it decides to buy an urban property in plan, inquire if the promoters have capacity and legal to take the construction to a good term.

The real estate agent must have all the brought up to date documentation of the property, to be able in good faith to negotiate the business of purchase and sale.

Use Holder

Right which its holder (use holder) must use goods which does not belong to him. The majority of usufructs are for life made up (during the life of use holder). For example: an owner makes the donation of a dwelling to another person and reserves for him the right to use it as long as he will be alive (right of usufruct). Obtaining a loan with mortgage on this dwelling only is possible with the authorization of the use holder.

Responsibility

Unspecified load or limitation which falls down on the property of goods. For example, a mortgage, a usufruct or a constraint.

Licence of Utilization

Document emitted by the City council while authorizing that a house is inhabited, after being checked which meets the conditions required for this purpose (safety, health, dimensions, etc.) and is in accordance with the approved project. The notary requires the presentation of this document when formalization of the promise contract of purchase and sale. For this last effect, when the same one already was required, but still not emitted, which arrives in rule in the cases of the property finished building (first transmission), will be substituted by the license of construction by having, nevertheless, the transmitter to make proof whose license of use already was required.

In the City council can check:

   1. If already licenses of construction or dwelling were emitted.

   2. In the case of land acquisition for construction of future dwelling, if the ground is placed in zone authorized for urban constructions, it means if, was emitted license of allotment, or if in the case of insulated ground is in urban zone.

   3. If the ground has authorization for construction, which characteristics of the dwelling which can build.

Property Matrix Document

Is emitted by the Service of Finances and checks its recording in the matrix. Identifies its localization, composition, sector, owner and taxable patrimonial value. Each time it is necessary to carry out a register in the Property Register Department is required the presentation of the Property Matrix Document updated by the Service of Finances. The Property Matrix Document has the validity of 1 year.

In the Services of Finances can check:

   1. if the property is vacant, this is, If heirs or tenants have no preference rights; . .

   2. If any Tax on Properties is not due, in the case of purchase of property used, or if the property answers by the payment of any tax.

Certificate of Property

Is a document which function like a " Property ID", and is emitted by the Property Register Department which certifies all the registers carried out concerning the property: localization, composition, owners, responsibility, transmissions, etc.

In the Property Register Depatment can check:

   1. If the salesman is the true owner, i.e., the property is recorded in the name of the present said owner.

   2. If do not exist mortgages or seizures in favor of third. In the case of mortgage the entity mortgage holder will have to be present in the act of public title with a document of cancellation of mortgage, that exchanges the mortgaged amount will deliver to the new owner this capacity to make the cancellation of the mortgage. Before the title of sale, will have to be checked by the Property Register Department if the document of cancellation of mortgage is correct. In the case of seizure the cancellation of same will have to be made by order of the court after anticipated liquidation of the seized sum.

   3. If the property is not subject to use holding. If so, the use hold will have to do the cancellation of same sign in at the Act of Title Deeds.

Document of Reserve

Justifying document, by a time beforehand agreement, refers the value which the purchaser delivers to the present owner as proof of good faith of their intentions of carry out the business, time necessary so that the promising purchaser obtains banking confirmation in the case of loan.

Promise Contract of Purchase and Sale (CPCV)

Contract where the two parts promise to celebrate in the future, the concretization of the business, through public title or a particular document, where, in addition to other conditions, the first value (sign) delivered by the promising purchaser is confirmed by the owner of the property.

This document regulates the rights and the duties of the parts and the conditions established in the business for the period which is passed until accomplishment of the final contract (Public Title)

The Promise Contract to Purchase and Sale must contain the following clauses:

   1. Identification of the parties, promissory salesman and of the purchaser (name, marital status, profession, residence, tax number, ID number, etc.)

   2. Identification of the property (place, nº of street, or confrontations, property description, matrix article, composition of the property, etc.)

   3. Price of the transaction and form of payment, including the value of sign, of the reinforcements of sign or payments, and respective planning.

   4. Indication and clarifies that the property will be sold free of any responsibilities or charges.

   5. The maximum time for celebration of the public title act, being able to be awaked the payment of interests at certain rate, if the time is exceeded by fault of some of the parts.

   6. If a bank loan is refused or not granted the consequent restitution of the sign in simple must be restituted immediately.

In the case of no compliance of CPCV per cause charged to the promising purchaser, the salesman has the right to keep all the values received.

If the stipulated clauses in the contract not occurs by cause charged to promising salesman, this one is obliged to pay to the promising purchaser the double of the value of the sign, by way of compensation.

Bare in mind that, the contract is an agreement between the engaged parts. Do not sign a CPCV contract without analyze with much attention all the clauses.

To have access to the draft of CPCV contract in advance so that can be analyzed or shown to a lawyer.

To check if the allowed time is sufficient to treat of all documentation. It is informed in the bank in the case of loan, time necessary to approve and prepare the trust deed.

To try to establish the maximum time which will be possible as matter of precaution, of some delays which can appear with obtaining the documentation.

To advise itself with the real estate agent how much time which leads the registers in the Property Register Department.

Trust deed

Contract in which is recorded the agreement established between the bank (lent) and its customer (borrower) concerning a financing and where all their conditions specify (ascending, times, interest rate, etc). It can take the shape of public title or particular document.

On the basis of value of the property to be purchased, and values of income, the bank will give a fast response of the conditions of loan if the bank admits viability.

They then will have to be delivered several documents, plans of the property, documents of identification of the parties, supporting documents of the incomes, and composition of the familiar aggregate.

The bank will proceed to the evaluation of the property and will give a final answer on the concession of credit.

In the case of credit for construction, widening or final improvement, will have to be delivered furthermore to license or licensed of construction, the approved project, and the budget of works to realize.

Provisional Mortgage register

Notation in the Property Register Department of the constitution of a mortgage on a property. For obtaining a loan of dwelling, is carried out beforehand provisional registers of mortgage which is converted in final after the signature of the mortgage and trust deed. The provisional register, if nevertheless is not converted, will be come null and void at the six months end.

Tax on Transmissions of Property (IMT)

Payable before the title of deeds act, and is due accordingly to the largest of the following values: the value mentioned in the act or the contract or the tributary patrimonial value.(More details in TAXES)

Contract by Particular Document

Document which regulates the purchase of a property intended the dwelling, through a loan granted by an authorized banking institution. This method substitutes the public title in the purchase with resource for credit, exempting the intervention of the public notary.

Public Title of Deeds

Act (contract) by which is transmitted the property of an owner for other through a document written and signed by the two parts in front of the notary or his representative. It is practical current which, in this act, the salesman receives the value in debt through a bank guaranteed check, banking transfer or the money. In accordance with the law, the purchase and sale of property, is always subject the public title. The contract by a particular document constitutes the only exception.

The Notary is a public entity dependent on the Ministry for the Justice which has mission of carrying out certain acts and contracts or of checking the legal conditions of same, in particular the purchase and sale of property and the constitution of mortgage, which are subjects the public title.

Register of Acquisition

Notation in the Property Register Department of the acquisition of the property and respective transmission of ownership, register of cancellation of mortgage with document provided by the entity mortgage holder.

Remember that in the case of seizure the register of the cancellation of same is made in advance before the act of public title, by order of the court.

Register in the Property Matrix Document

Register in Property Matrix Document is carried out in the Service of Finances where consists, in particular, the composition and the sector of the property, its patrimonial value tributary and the identity of the owners and use holder, if has there. A property "is omitted" in the matrix, if does not exist its Matrix Article.

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