Buying a home in Spain, especially on the beautiful Costa Blanca, is an exciting decision for those looking to retire in a place with a privileged climate and quality of life. However, the process can be more complex than it seems, and making sure everything is in order before signing the sales contract is crucial. This is where due diligence comes into play, an essential step to avoid unpleasant surprises.
What is due diligence?
Due diligence is a thorough research process carried out before purchasing a property. Its purpose is to identify potential legal, financial or technical issues that could affect the transaction or the enjoyment of your new home.
This analysis allows you to make an informed decision and avoid risks such as hidden charges, legal disputes, outstanding debts or urban planning irregularities.
What does a real estate due diligence include?
When a specialized lawyer performs due diligence, he or she will review different aspects related to the property. Among the most important are:
- Title deed: Check that the seller is the legitimate owner and that the property is not seized or subject to claims.
- Liens and debts: Confirm that there are no mortgages, liens or other debts linked to the property. This includes checking unpaid fees in communities of owners.
- Urban legality: Check that the property complies with construction regulations and is duly registered in the Cadastre and the Property Registry.
- Licenses and permits: Make sure that the property has all the necessary licenses, such as the first occupancy license.
- Utilities: Check that there are no outstanding debts with services such as water, electricity or gas.
Why is it essential for foreign buyers?
For many foreigners, the laws and procedures in Spain may seem confusing or different from those in their home country. A professional due diligence ensures that the process is safe and transparent, eliminating risks that could complicate your investment or relocation.
How can we help you?
At our law firm, specializing in real estate law, we offer comprehensive due diligence services so you can buy with complete confidence. From document review to resolving potential conflicts, we are by your side every step of the way.
If you are planning to buy a property on the Costa Blanca, please contact us. We will make the process easier and safer, allowing you to enjoy your new home without worries.
