BUYING AND SELLING

Guiding you through the process of property sales

WHEN you sell a house, you first sign a reservation contract, and the conveyancing agent takes a deposit of usually €3,000 to €5,000 to take the property off the market while the buyer carries out their legal searches.

Within 30 days a sale-purchase contract is signed, when 10% of the price is paid over. It is in this contract that the method of payment, completion date, inventory and division of costs is laid out.

To make a legally binding agreement, a contract should have certain elements, namely: the date, the town where it’s signed, full names of all parties, their id numbers and current addresses, their contact phone number or email, the address of the property being sold and the sale price. Every page of the contract must be signed by both parties.

Unless otherwise agreed, the buyer would pay the purchase taxes of 10% on the sale price or government set reference value (if this is higher than declared sale price).

The buyer will also pay for the Notary fees and Land registry.

The vendor pays for an architect energy certificate, 2nd occupation licence from town hall (this is now a requirement as there is an upcoming change in the law regarding septic tanks). Also, a certificate showing there is no building infraction (illegal build file open against the property) - if there is a discrepancy between what the deeds state and the actual building then the vendor is responsible to pay to rectify this.

The vendor pays the estate agent fees, a municipal sales tax (called Plusvalia). If the vendor is non-resident then they also pay 3% sales tax.

Both these last taxes can be reclaimed if the vendor has made a capital loss on the sale price. These contracts, certificates and licences can in most cases be obtained through our office for you without your need to attend these offices in person. If you have any questions regarding the above article please contact us and we will be happy to assist you.

FOR ANY HELP AND ADVICE ON LEGAL ISSUES, YOU CAN CONTACT ME AT: ALBA CONSULTAS - LEGAL ADVISERS

(+34) 96 561 5061 / +34 692 386 293

C.C. EUROPEO, LOCAL 168, CTRA TEULADA - MORAIRA. 03724 INFO@ALBACONSULTAS.COM WWW.ALBACONSULTAS.COM painters.

Regional director of Culture and Heritage, Carmen Amoraga, who went to Havana four years ago, said that the Cuban government had suspended the loan, citing that the 'international situation' was unfavourable.

The Sorolla paintings, as well as those by Valencian artists like Mariano Benlliure and Julio Vila Prades, would have been cleaned and restored at the Valencian government's expense, which would also have covered all the transport costs to and from Cuba. Discussions down the last few years, saw the number of Sorolla paintings to be loaned reduced to just 10, with no room for the other Valencian masters.

A previous exhibition of works from Havana - personally approved by Cuban dictator Fidel Castro - ran in Madrid and Valencia galleries in 1985.

Cuba holds the third-largest collection of Sorollas in the world, after those in Spain and the United States.

Debt

One reason put forward in some circles for Cuba's change of heart suggests that since the island is heavily in debt, there were government fears the paintings might not be returned and could be used as collateral. Joaquin Sorolla was born in Valencia in 1863 and left more than 2,200 catalogued works.