In an interview with Metrocuadrado.com, Ivan Dario Daze Oregon, an expert lawyer in real estate law, explains to us what are the key points for you to take into account when buying a property.
What is the first thing to keep in mind when buying?
There are many factors to analyze in advance when buying a property. However, as a professional, you always have to review two things before doing a business. First, an analysis must be made to the person who is going to sell, then, it must be clear that this property was not the product of some illicit act. As a second requirement, a study of titles must be made to the certificate of freedom of the property to be purchased.
As the third and main requirement, it is always important to inform a qualified legal professional of what is going to be signed, so that they can give the go-ahead to sign the promise. It is better to invest additional money in an expert lawyer prior to making a promise and not incur higher costs in a possible default or in a judicial process.
What are the key points when signing a promise of sale?
It is important to be clear about the payment dates, stipulate the date and time where the promise is to be signed at the Notary since many people omit this requirement by leaving the term open in the promise, but what they do not know is that they are signing a contract that will never be born to legal life. It is also important to establish the type of penalty to which they are going to be forced, since, since there are several types, people often stipulate the most burdensome.
In case it is a new home, can you charge me more money for problems on the construction site?
No. Let us remember that, if they offer you a new home for a certain price and you accept, that will be the price of the business and the seller (builder or natural person) cannot increase the price by claiming something unexpected in the materials. However, in the eventual and hypothetical case of a force majeure or fortuitous event on the part of the constructor, it is likely to increase the price.
Where can I report breaches, be it from the construction company or from a private seller?
There is no entity that oversees a construction company or a private seller. In the event of not being satisfied in the conclusion of the business, it should be analyzed by a legal professional if there is room for legal action to save the buyer’s assets. Therefore, prior to making any type of contract, it should always be analyzed by a trusted lawyer.