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Written by A1-Holiday.com
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Saturday, 22 September 2007 |
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Prevention is better than cure - Making a legal mistake when investing in property can cause irreparable damage to your personal situation. Trying to correct a bad situation can be extremely costly with no guarantees of success.
"Peace of Mind For a Modest Fee"
Appointing a lawyer to look after your interest and safeguard you from potential hazards is worth every penny. Nowadays, conveyance lawyers charge modest fees for their services, giving you peace of mind and more importantly ensuring every aspect of the transaction is sound, fair, and of course legal.
"Top 6 Reasons Why You Should Appoint a Lawyer"
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It is generally not recommended to rely on Real Estate Agents to cover off all aspects of a legal transaction. Real Estate Agents are professionals in their field but are not experts nor qualified in legal matters. In addition Real Estate Agents are motivated by the ultimate sale of the estate as this is the event that drives their remuneration. As a consequence, Real Estate Agents could potentially overlook important aspects of the transaction.
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Spanish law is different to that in Britain and therefore it is essential that a legal expert handles the intricacies of your investment transaction to avoid potential disappointment and financial losses.
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A lawyer ensures that the property is properly registered, has no outstanding charges against it, your deposit is safe from fraudulence, that there are no tenants with a legal claim to the property and in the case of a new property, that your deposit is safe from the consequences of bankruptcy on the part of the developer.
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A lawyer has no vested interest in the sale of a property but rather he is concerned with ensuring that all aspects of the transaction are carried out as they should be in accordance with Spanish Law and local authority building regulations. This level of independence ensures that no compromises are made in the integrity of the transaction and therefore protects you as the buyer.
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You should expect lawyers to be thorough and efficient in representing your interests. If however something goes wrong with the transaction, lawyers have professional indemnity insurance, which means that you are covered for any negligence that may arise.
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Lawyers hold Spanish bank accounts for their clients with preferential rates. This can save you money by depositing your money with the lawyer rather than in a non-resident bank account.
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Last Updated ( Thursday, 08 November 2007 )
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