New Construction Property for Sale in Torrevieja
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New Construction Property for Sale in Torrevieja Costa Blanca

Main types of contracts when buying new construction property in Spain

Although verbal contracts are valid in our legal system, normally in the sale of housing it is the written contract. In this article, we bring you information about common types of contract in the home buying new construction.

Since there is the principle of freedom of contract is to consult with a professional contract content, whatever. From EUROPAHUS, as real estate consultants with over 15 years experience in Spain, we recommend you read this article that the most common types of home sales in new construction contract specified.

Terms of standard contracts.

When one company takes usually contracts with many consumers can not negotiate individual contracts, so you choose to write standard contracts in which the other party is limited to accepting or rejecting the offer made without the possibility of modifying it.

Not individually negotiated clauses should be clear and simple, without forwarding to other texts or documents are not provided prior to or simultaneously. The consumer must be given receipt, receipt, copy or document of the operation or where appropriate budget duly explained. If in doubt about what means a clause shall be interpreted in the most favorable to the consumer.

Unfair terms.

The general conditions are unfair terms when they cause material injury to the rights and obligations of the parties (art. 10 LGDCU). Additional Provision of the Act provides a list of unfair terms. However, a judge can declare other abusive clauses and will be declared invalid.

It is unfair term and, therefore, void, one that imposes such goodwill payment to the buyer. Also that requiring the purchaser to subrogation to the mortgage that once asked the seller. This can not impose a particular notary.

Pre-contract.

Is the promise to buy or sell. The formalization of the preliminary contract will entitle contractors to interact claim the fulfillment of the contract, having conformity in the thing and the price.

Document Reserve.

Sometimes it may happen that the purpose of withdrawing from sale a house that interests us we sign a "reservation" for which, in exchange for the delivery of a certain amount, not that home to another person will be offered during the time it has been agreed. The amount paid will be forfeited if not formalized the purchase.

Arras document or signal.

Different is if you signed a document arras, in which the amount the buyer gives the seller as a sign of the sale going to celebrate is part of the price of the sale. They can be of two types:

1. Calls confirmatory deposit, are a firm acceptance of the transaction the other party may enforce the resolution or compensation for damages.

2. The earnest money means that in case of breach of contract, the contract may be terminated acquiescing to lose the buyer or seller to return double

If the document does not specify what kind of down payment is referring must understand that this is confirmatory.

Private Purchase Contract.

Often prior to the execution of deeds character private purchase contract is signed, but not mandatory. We should note that what is agreed it is binding between the parties. The subsequent writing should collect the same aspects as agreed in the contract.

The contract must contain:

1. A clear definition of the object, ie, a description of the housing indicating all relevant issues we should know.

2. Conditions of acquisition between the price is included, specifying the costs and assume the payment.

3. The delivery of keys. It is advisable to agree a penalty clause in case of delay in delivery.

4. The date of deed.

5. The possibility of modifying the original project for reasons beyond transferors.

6. Appropriation easements and charges.

7. Participation in the common elements of the building.

8. The guarantees given.

Public Deed.

If both have signed a private purchase as a down payment agreement, either party may request the other raising the public deed document. The public deed granted before a notary, and allows the registration of the new property.

The parties may agree on the appointment of a notary. If not, your choice is the consumer.

Check out the catalogue of new construction properties in the Costa Blanca of EUROPAHUS

If you are looking for newly built properties on the coast of Spain, either to retire as a second residence or as an investment, check out the catalogue of EUROPAHUS properties.

We have homes of all types in all areas of the Costa Blanca and Costa Calida, from Mazarrón to Denia. Contact us, tell us what you're looking for, and in less than you think you'll be enjoying your home in Spain.

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