You have found the house you have been looking for for months in a Barcelona neighbourhood and now it is time to close the deal with the owner of the property. If you have not opted for the services of a real estate agency when buying a flat from a private individual, you can take the following precautions to successfully complete the sale.
Ask the owner for all possible information about the property
Don't hesitate to ask the owner of the property for all the information you consider necessary. Bear in mind that this may be the house you move into in the near future. Ask for a floor plan of the house, ask about the state of the electricity, gas and water installations, about any renovations undertaken, details about the community fees, etc. Also make sure that the property is up to date with all taxes.
Go to the Property Registry
Request a simple note from the property in the Barcelona neighbourhood you are interested in. This document will show who owns the property and whether there are any outstanding charges. It will also help you to verify whether the location data of the house corresponds to what appears in the Registry.
Ask the neighbors of the property for information
After having made several visits to the property you are interested in and having gathered the information provided by the owner, ask the neighbours of the building to make sure that the house you are interested in is not affected by any conflict with a problematic neighbour, etc.
The president or administrator of the community of owners can also be a good source to find out the reality of the property and the specific home.
Beware of the sign
If you finally decide to buy the flat, make sure that your bank will grant you financing. Imagine that you rush to pay the deposit in advance to reserve the property and the bank does not grant the mortgage. The owner will not be obliged to return the amount paid in advance. Generally, the deposit paid is equivalent to 10% of the sale price. Therefore, it is not advisable to pay a higher percentage in advance.
Formalize the agreement in writing
It is essential that all the conditions of the sale transaction are reflected in a contract so that there are no conflicts between either party. The document must clearly state aspects such as the sale price, the amount paid as a deposit, when the sale will be formalised in a public deed, or the date of delivery of the keys to the property. It is also a good idea to include the penalties that both the seller and the buyer will face in the event of non-compliance with the agreement.