Frequently Asked Questions

The developer usually sets a maximum handover date in the agreements, stating it will use its best efforts to complete and hand over the home within the period set in each case.

This circumstance is set out in the purchase agreement. Normally, and provided that the delay is not due to circumstances of force majeure, the buyer has the power to grant an extension or to terminate the agreement. Notwithstanding the above, they must act according to the covenant signed by the parties in the agreement.

The acquisition of your home will involve expenses and taxes that can vary between 10% to 15% of the purchase value.

Taxes:

VAT: the first transfer of housing is subject to Value Added Tax. The tax falls on the home and its annexes and in the case of new homes it currently amounts to 10%

Documented Legal Acts Tax: This tax will be levied on the deed documenting the transfer of the home for the amount of the sale. The applicable tax rate will be determined by each autonomous community.

Other expenses:

NOTARY: The fees of notaries are regulated by the State and will depend on the price of the property.

PROPERTY REGISTRATION: Registration of the deeds in the Property Registry, whose fees are set by regulations and depend directly on the price of the property.

MANAGEMENT: This expense is optional depending on whether you choose to request financing or not. If the client pays for the home with their own funds, they can contract with an agency or carry out the tax settlement procedures, registration in the registry and other administrative procedures, on their behalf, but if they request financing, the
The bank that grants the mortgage may request a “provision of funds” and also select an agency to carry out the administrative work and carry out all the procedures.

It is a guide given to the buyers with the deeds where we provide all the relevant information for contracting utilities, building specifications with manufacturers and models, legal information regarding the residents and guarantees and information regarding the maintenance of the materials.

The First Occupancy License is the administrative authorisation that proves that the works it refers to have been executed according to the project and the Major Works Permit and that they are duly completed and suitable according to the urban, environmental and safety determinations of their specific destination.

If the buyer abandons before signing the private purchase agreement, the seller would keep the amount they had received as a deposit.

Once the private purchase agreement has been signed, if the buyer decides to withdraw from it, the Seller will demand the contract’s fulfilment, with payment of the corresponding price, without prejudice to the provisions of article 1124 of the civil code.

An ad corpus purchase is where the price is not calculated at a price per unit of measure, but rather as a flat-rate amount.

Via Célere has the “Customise you Home” service, a customisation programme where the customer will have different finish options offered by each Project.

Yes. The association is formed and an administrator is appointed so that everything is working from handover (lighting common areas, concierge, maintenance, etc.).

Yes. All the amounts that are paid prior to the signing of the Public Deed are guaranteed by bank guarantee or guarantee policy.

Normally a reservation document is signed that has the character of earnest money. This means that both parties can resolve the contractual relationship in the following way; in the case of the buyer, losing the amount paid and in the case of the seller, paying the buyer twice the amount that was paid by him/her.

Subsequently, a private purchase agreement is signed and finally the public deed when the home is handed over to the buyer by the developer.

However, this structure is usually adapted according to the particular status of construction of the promotion and the administrative procedures for obtaining permits.

It is the label that allows, since June 1, 2013, to verify that a property has the corresponding energy rating.The label must be used on al advertising for the sale of properties.

Since 1st June, 2013 it is required for purchase agreements for the energy efficiency certificate of all or part of the building (home, premises, etc.) to be made available to buyers, to inform the buyer of the property’s energy characteristics.

The energy efficiency certificate reports on the energy characteristics and the energy efficiency rating of an existing building in a specific territorial area.

The energy efficiency certificate of the existing building will be signed by an authorised technician.

These certificates must be sent telematically to the Community of Madrid, which will manage the corresponding database. The processing of certificates by the Community of Madrid will allow it to carry out a check to ensure the entire process is carried out rigorously and with guarantees.

It is the document which delimits the residents’ association, the description of the building, the common services and facilities, the rights of way, the description of the different flats and premises, the participation fee corresponding to each flat or premises in the building as a whole, and, lastly, the statutory rules of the Association’s operating scheme.

This deed is registered in the Property Register where the building is located.

It is not possible to transfer the rights included in the sales contract, except in duly justified exceptional cases and with prior authorization from the developer. However, this is subject to tax on capital transfers and documented legal acts in the first of its modalities. The developer has the obligation to verify that the tax has been paid prior to the execution of the deed of sale.

This is the same as in the previous case. It is possible to modify the percentages of sale, however, this implies a transfer of rights and is therefore a taxable transaction of property transfer tax and documented legal acts in its first modality. The promoter is also obliged in this case to verify that the tax has been paid.

It is advisable at the time of purchasing a home to have 20% of the total value of the home plus the VAT of the operation, because, if you will require a mortgage, the bank usually grants up to 80% of the value of the home.

The contracts are signed when the building permits are obtained and once the guarantee policy has been signed, guaranteeing the amounts paid in advance until the deeds are signed.

Legislation does not establish specific obligations for the promoter of free-market housing for the allocation of parking spaces of these characteristics. However, for our part, in order to establish an objective criterion, we require buyers who want to purchase a disabled parking space, to prove that they have the parking card issued by the corresponding City Council, which shows that its owner, or a person dependent on them, has a recognised disability with significant mobility problems that affect the locomotive or ocular systems.

Although there is a standard method of payment, it is possible to adapt the method to the customer’s individual circumstances, after studying the proposal by the promoter.

The tax credit for investment in usual residence was eliminated as of 1st January 2013.

It is the declaration in public deed of the owner or all the co-owners of an estate, which states the fact that the construction of a building has commenced or concluded. These deeds may be registered in the Property Register in order to provide consistency between the register and the legal situation outside of the register. In the case of buildings, it will state the number of floors; the occupied surface area of the plot; the total square metres built and, if specified in the approved project, the number of elements that can be used independently.

This can be done in two ways depending on the construction phase:

• The finished new build: When the construction is completely finished.
• New build under construction: The new build under construction declaration is usually made when the owner requires financing from the bank to build and it is a mortgage on the property under construction.

On completion of the build, the owner must declare that it is complete by means of a notarial certificate of final completion.

It is the document used to distribute the mortgage loan that initially operated on the initial plot and was used by the promoter to purchase the land and for the development of the promotion among the different registered properties.

No. Failure to obtain financing does not entitle the buyer to terminate the contract and this is set out in the purchase agreements.

The Building Record contains the Project, with the incorporation, where appropriate, of the duly approved modifications, the certificate of acceptance, the identifying list of agents who have intervened in the construction process, as well as regarding the instructions of use and maintenance of the building and its facilities, in accordance with the applicable regulations.

The Building Record is made available to the end users and is deposited by the promoter at the Property Register.