INFORMATION TO TAKE IN CONSIDERATION WHEN YOU WANT TO BUY A HOUSE.

· The trader enterprise must have at public disposition the following information (this is not obligatory in case of bargain and sale among privates):

· Constructive characteristics.

· General project of the home site and the house in particular.

· Description of the house with expression of the useful area and general description of the building where it is situated, of the common areas and additional services.

· Description of the property structure and its substructure.

· Quality, trade-mark, pattern, durability, maintenance, measures and references of the inside floating and the acoustic insulation of the house (grounds, walls and ceilings), building, common areas and accessories.

· Types of wood, glass and their thickness, materials used on doors, windows, wardrobes, etc.

· Description and graphic of the installations and distribution netting of the different common goods as well as the services and supplies inside the houses (electric netting, water, gas and heating as well as their guarantees)

· Instructions about the use and conservation of the installations that require some kind of procedure or special knowledge and about evacuation from the property in case of emergency.

· Security measures against fire and equipment for fire extinction set in the property.

· Characteristics of the lifts and load cage set in the property and the security measures that contain.

· Measures of saving energetic:

· Description of the saving energetic measures in the construction and the materials and systems of thermal insulation that the property provides, in the common elements as well as in the houses, with indication of their toxicity.

· Characteristic Hygienic-Sanitary:

· Description and graphic of the sanitation netting and evacuation of the property and house and their connection with the windows, surfaces of illumination and ventilation.

· Others details:

· Name or trade name, domicile and, in his case, details of inscription in the seller’s Mercantile Register. When it talks about the first transmission, the arquitect´s name and domicile will be shown and the builders name or trade name.

· Identification details of the property inscription or statement for not being inscribed in it.

· Total price of the property and additional services and annexes, including, in his case, the agent’s fees. The price will include I.V.A. if it submits to this tax (first transmission). In other case, it will be shown the quota that corresponds for the Tax of the Patrimonial Transmission.

· Method of payment. In case they stipulate respites for payment, the interest rate to apply and the correspondent quantities to bail for principal and interest will be shown, as well as their due dates.

· Methods of acceptable payments.

· If the property is a new building, the seller must have at buyer disposition:

· Urban license (urban situation of the property).

· Necessary licenses for the project.

· Necessary license to inhabit and use of the property (Habitableness License).

· Policies and working rules of the proprietary community.

· If the building is not finish, the delivery date must state. 

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· The property must be inscribed in such register.

· The seller is inscribed as the property owner that wants to be purchased.

· If the property is charged with any mortgages or any other rights of a third person that can be an obstacle when buying the property.

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If you have decided to get a property, you must sign a contract of purchase and sale with the seller. This contract can be in two ways: private contract or notary public contract.

There must be a notary contract to inscribe the property in the Property Register. However, it is very usual to celebrate a private contract when the buyer needs a loan to finance the buy of the property or when it pretends to buy a property in construction or future construction.

The contract has to be redacted clearly and with simplicity, without adverting to the not expedited documents to the buyer before or when signing the contract. As a buyer you must observe that the contract contains the following clauses:

· Crediting bonds of the property.

· Description of the house.

· Total price.

· Method of payment. If this is a respite for payment, it must indicate the respite amount and due date, stating, separately, the correspondent amount to interests (Deducible from the Income Tax).

· Conditions of amortization of the agreed credits or clauses that enable the buyer to increase the respite price during the contract in force.

· Tax or charges affecting the housing.

· Date and conditions of extension of the public contract (in case of signing a private contract).

· Date and delivery of the housing.

· Penal clauses. In the private contracts is usual to give some kind of advance payment and/or deposit to entail the buyer and the seller, at the same time it is very frequent to have penal clauses that punish the non-compliance of a contract. As a buyer, make sure that those clauses punish, the same way, any non-compliance, from the buyer or the seller.

· Special clauses. In case of purchasing housing in construction or future construction there must be a clause for which the constructor must guarantee the refund of the advance payment plus 6% of the annual interest interceding the insurance contract or banking guarantee, for the cases in which the construction does not start or the time is up.

When signing the contract the seller must give the buyer the document that credits the noted guarantee on this clause.

Keep in mind as well that, in case of being another non-foreseeable modification during the construction of the housings that means an increase of the price, this must be informed to the buyer, who will agree or disagreed.

If the buyer would want to make some kind of amendment, it must be documented in enclosure, price and due date.

If we are talking about a private contract, it is necessary to sign a contract on notarial public writing later on. This is necessary to inscribe the purchase of the property in the Register of the Property. Do not forget to inscribe the purchase in such register because this inscription is the one that gives credit and guarantees your property against third persons.

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I.V.A.

If it is about the first transmission after the construction of the housing, the tax rate is 7%.

TAX OF DOCUMENTED LEGAL ACTS

If it is about the first transmission, the rate in Pais Vasco is 0.1% on the price of purchase.

TAX OF PATRIMONIAL TRANSMISSIONS

The second and posterior transmissions charge when they are between privates. The rate is 6% in Vizcaya and Guipuzcua. In Alava is 4%, having a reduced rate of 2.5%.

TAX ON THE INCREASE OF THE VALUE OF THE URBAN LANDS (MUNICIPAL TRANSMISSION)