SAFE BUYING MARK

FOR SPANISH REAL ESTATE

Despite the intervention of real estate agents, lawyers and notaries, thousands of foreign buyers are deceived in Spain every year.

Profile victims

Safe buying mark

To avoid being incorrectly or incompletely informed, it is essential that you the purchaser know everything about the property you want to buy.

IGP provides a scan of the house, which is processed in a report. In this way you are well informed and will have the ability to fully know what you acquire. You will have control over the purchase, allowing you decide accordingly. Include the result of the inspection as a decisive condition in the negotiations!

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Buy safely

The only guarantee to buy securely is with a notary or lawyer located in your country with known standards and values that oversees the buying process.

As an independent body, IGP is the intermediary between notaries and lawyers in Northern Europe who speak Spanish on the one hand, and lawyers and notaries in Spain on the other. Never exclude a Spanish lawyer or notary from the transaction!

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Check list en tips

There are many factors that you have to take into account in Spain to prevent problems afterwards.

Illegal construction, the lack of documents and permits, overdue taxes, incorrect registration in the land register, unclear ownership position, lack of ethics, bureaucracy and corruption.

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Insurance check

Would you buy a house that you cannot insure or have no cover due to lack of licenses?

For taking out a home insurance in Spain, apart from the address and the estimated value (sometimes even without a valuation report), not much more information is required, so that many owners are convinced that they are insured. Too often this turns out to be a misconception. Do the check whether your (future) home is or can be insured!

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Case studies

The frequently-made remark “it works like that in Spain” must go in one ear and out the other.

Even though control in Spain is limited, it does indeed exist, or after a renovation or sample when renewing an existing license. Don’t be fooled, because your home is to be enjoyed without a continuous Sword of Damocles above your head.

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The costs for an IGP inspection (from 375€) are relatively so low that there is no reason for the seller not to have it carried out, unless the property has insoluble problems!

Challenging an inept self-serving industry

One of the main issues in the real estate market is transparency surrounding the legalities. This is often perpetrated by the administrators and professionals of the sector, who to a greater or lesser extent seek only to collect their fees with the minimum of information being passed to the prospective buyers, and in the end they are never accountable for the problems that subsequently arise.

The government continue to allow this practice to continue unchecked.
To add, confidence in the judicial system In Spain is very low
According to a survey it was revealed that more than half of Spanish citizens (55%) negatively assessed the independence of judges and courts in Spain (between 37% who believe it is “bad” and 18% who rate it as “very bad”). With only a 5% rating it as very good ! A phrase known amongst lawyers here is “better a bad agreement than a good litigation”. This is confirmation of the risks to prospective buyers that should problems arise they will have difficulty dealing with the legal profession here.

Our aim is to prevent these problems arising in the first instance by ensuring everything is in order from the outset. ‘prevention is better than cure’

Effective measures

With an extensive package of measures, the IGP Registry wishes to regain confidence, closely involving consumers in the control of inspections to prevent conflicts of interest and guarantee full independence.

The most important measures refer to the detailed means of control that ensure that the inspection provides the buyer with a fair and objective view of the home. Then IGP offers models of contracts that ensure that everything is clear. And, finally, a secure payment agreement with clear conditions for the end of the uncertainty of today, in which large amounts of money are delivered in checks or accounts, without due guarantees that you pay for what you want buy, and if it were not so you can recover the money, because the trust in the relationship materializes after the purchase and not before, especially when the purchaser does not reside in Spain.