Purchase/Sale Contract Example

http://www.tuguialegal.com/Vivienda.pdf

I imagine Maria & Justin will come up with something more helpful.

 Roberto, the contract you posted here is obviously a perfect model of contract in terms of protection of consumers. I wish the government would  impose somehow a format like that on developers!

The article I prepared and that Justin is about to send to you follows the scheme of that contract ( the one I used as a model was the best it has come to my Law Firm during the last months ) and is in " English" ( well, my english... trying my best). Anyhow, as always, I will be open to questions/ explanations.

I may make another article of FAQ once I received all the queries.

Best,

Maria

Thanks Maria, I look forward to seeing your article and contract example.

Assuming that this applies specifically to the purchase of new/off plan property, I wonder if you could also submit a suggested private contract for use when buying re-sale property? In my experience, most estate agents are very remiss in this area. They mainly seem to expect buyers to commit to a deal by paying a holding deposit, but offer little or nothing in return by way of commitment on the part of the seller. No doubt several of our resident agents will have something to say about this! (I'm sure we all welcome your comments!)

I heard an interesting opinion today from my local caffeine dealer, that estate agents are "on the way out", which I'm not sure I agree with, but it is certainly true that more and more people, buyers & sellers alike, are looking to cut out the middle men by dealing direct with each other. I think the Spanish have always preferred to avoid agents if possible, but foreigners also are becoming more confident, with such a wealth of information and help available from sources such as EOS now available to all, so a model for a private contract may be useful too.

Looking forward to the inevitable backlash from this post!

I actually have a copy of my off plan contract that I received early 2004 translated into English. I'm certainly not sure if it fits the bill as a Generic Contract but it is 14 pages long and appears to cover most elements! the problem is different developers/lawyers will insert their own clauses to suit but I would think that they all begin with a basic generic document?

  If enough members "say please nicely" I'll try my best to Scan the hard copy and produce a reasonable document that I could email on request or perhaps Justin could place it somewhere on the site for everyone to view...........

Gillespie, I do hope you realise I didn't write that contract myself?! (Took me long enough to compose the Horizontal Law, didn't feel like doing an encore). I just happened to come across it, like you do. I didn't even bother reading it, just posted the link, but it's nice to know I caused you to spend 2.5 hours with a dictionary going through it!

I think Miket's idea is good, maybe we could all scan our contracts, and Maria can go through them all and come up with a "best of" compilation?

Any thoughts on the ideal contract for re-sales, anyone?

I will send it to Justin for the newsletter. Off-plan one already at EYEONSPAIN headquarters.

Best,

Maria

I´m hopefully going to be buying a resale direct from the seller (touch wood).

I looked at the link in post number one of this thread which is an example of a contract for OFFPLAN propertym (so not my case).

However, I then had a fumble around on that website and found that it has several different types of example contract.  Now I am not sure which contract example fits my case.  I have narrowed it down to either:

"Venta con entrega de arras o señal" or "Venta con entrega de anticipo del precio sin constituir arras o señal".

I don´t really understand the difference between the two.  Which would be better for me, the buyer?

Thanks.

Justin is about to send both articles about Off-Plan contracts and resale contracts. I will try to make a model of reservation document/ deposit contract, but, in the meantime, I think you can have some ideas from here:

http://www.eyeonspain.com/spain-magazine/deposit-contract.aspx

 The most important rules for a deposit contract:

- Mention that is a refundable deposit.

- Mention of the bank account and holder where the deposit is till the deadline is met.

- Deadline for the private purchase to be signed or have  the deposit back double folded.

- Clear conditions for refunding.

Thank you Maria.

A model reservation document and contract would be an excellent idea for this site.  I hope the EOS team pay you well for all the help you offer its members!!

I have another quick question - at what point is a Nota Simple created? 

When the developer starts construction? finishes construction? when the LFO is in place? other?????

If it is new build then there is already a Nota Simple for the land. If the property is already constructed there should be a Nota Simple for the specific property as the land should have gone through Horizontal Division - in simple terms the apportioning of the original plot to each dwelling on the plot -  although it does not necessarily mean that there is an LFO (prefer FLO but people dont know what I mean). There can be a Nota Simple for the building without an LFO.

Jerezgirl, Nota Simple, or Copia Simple, is just that - a simplified (abbreviated) version/copy of an official document. Could be of a power of attorney, for example. Obviously in this case you are referring to the Escritura? If this is a resale, presumably the owner has an escritura, or at least the Copia Simple version of it. You should get a copy of this ASAP. With the registry details on this, you (or your lawyer - are you using one?) can obtain from the Land Registry an "informativa" which shows who owns the property and if there are any debts registered against it - at this moment in time. I always insist on getting this before parting with any money at all. You can order it on-line at http://www.registradores.org/principal/indexx.jsp?id_idioma=2&prefijo_idioma=ING

When you sign for the property at the notary, a new Copia Simple will be created at the same time with your details as purchaser, and you will be given a copy to take away with you. The actual escritura will be available some time (weeks?) later.

Thanks for the replies.  The property I am referring to is at a bit of an inbetween stage.  It has been physically completed by the developer and the Licence of First Occuplation has been applied for but not yet received.  The owner who bought off-plan is trying to delay completion so that he can sell before completion.  I just wasn´t sure in this scenario if there would be a Nota Simple or not yet.  I guess not as the escritura hasnt been done yet?