Top Tips for Buying Off-Plan Villas in Hondon Valley, Costa Blanca

When envisioning their dream home in Spain, some individuals prefer the charm of a traditional Spanish property, while others seek the opportunity to create a personalized haven from scratch. This article is dedicated to those considering the off-plan route for their new build. Here are some essential tips to guide you through the purchase process:

Find an Independent Lawyer Who Speaks Your Language Choosing an experienced lawyer who is familiar with the area and independent from all parties involved in the transaction is crucial. It’s also important that they are proficient in your native tongue, as they will need to translate contracts and other important documentation for you.

 

Understand Staged Payments When purchasing an off-plan property, payments are typically made in stages. You’ll start with a deposit, followed by staged payments, and the balance will be due upon completion. Your lawyer will ensure that the builder provides a bank guarantee for each payment, safeguarding your investment in the event of non-completion.

 

The Role of Your Lawyer Your property lawyer’s primary responsibility is to protect your interests throughout the process. They will undertake various legal tasks on your behalf, including:

• Verifying that the builder has obtained the correct Building Licence (‘La Licencia de Obras’) from the Town Hall.
• Reviewing a detailed building description and a list of materials to be used (‘Memoria de Calidades’), which specifies the quality of construction materials like bricks, insulation, tiles, and paints.
• Collecting the plans of the property and the complex (‘Plano de la Vivienda y Plano de la Urbanización’) if applicable.
• Obtaining the new build deeds and architectural certificate (‘La Escritura de Obra nueva y División Horizontal’).
• Ensuring that final completion certificates are provided for your property and the complex (‘Certificado de final de Obra’).
• Submitting the habitation certificate at the Town Hall and obtaining their stamp of approval (‘Declaración Responsable de Primera Occupation’).
• Verifying that the building company has a 10-year insurance guarantee with an insurance firm to cover structural defects (‘Seguro Decenal’), similar to the NHBC certificate in the UK.
• Obtaining proof of installation of utilities such as water and electricity (‘Boletin de Agua y de Luz’).
• Facilitating the registration of the property (catastral model) at the SUMA office for the processing of council tax. Please note that you may not receive a SUMA bill immediately, as it can take up to two years.

Once all the necessary steps are completed, the builder will attend the notary and sign the deeds as completed (‘Final de Obra’). At this stage, you can proceed to sign the deeds yourself or authorize your lawyer with Power of Attorney to complete the process and hand over the keys to your new Spanish property. Congratulations on your new home!

Embarking on the off-plan journey in Hondon Valley offers an exciting opportunity to shape your dream villa from the ground up. With the guidance of an experienced lawyer, you can navigate the process smoothly and confidently, ensuring your investment is protected every step of the way.

It may sound complicated with many new terms, phrases and processes however this is something that your registered real estate agent, builder and lawyer will advise you on from the start to finish to ensure the process is as stress free and enjoyable as possible.

 

 

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