Why using a lawyer when purchasing or selling a property?

By 28 febrero, 2015Real Estate

Solicitors specialized Real Estate

solicitors specialized real estateMost people at some stage during their life will make a decision to buy or sell a property. However, there seems to be a lack of awareness in society in general that before making this decision, it is advisable to consult a solicitor.

Often people only go to a Lawyer once they actually have a problem, in the hope that they can resolve it, whereas it would obviously be much better to actually contract a lawyer beforehand to avoid such problems. Often clients who have already signed a sales contract come to us to seek advice and resolutions to existing problems that may not have occurred had the client consulted us beforehand for legal advice.

Of all the professionals involved in a transaction, a lawyer is the only one who can really advise the client, look after their interests and ensure that what is being signed is legally sound.

In the real estate market people tend to try to avoid the intervention of solicitors often because they think that it may increase the costs of the operation, or perhaps may reduce their profit margin. In reality quite the opposite can be true, the costs of contracting a lawyer can, in many cases, be more than compensated for by the possible savings made when a professional analyses the operation with his client’s interest at heart. Usually money and time can be saved, especially when complications arise, and where there are unknown risks are involved.

Why using lawyers in Spain when purchasing or selling a property?

Generally, costs for this type of counseling and legal assistance range between 1 and 1.5% of purchase / sale price of a property, not a very high amount if you consider the high cost that could be incurred if any unexpected problems were to arise during the process.

The range of possible problems is wide and any one of them could cripple a purchase or sale deal, especially at the present time with a shortage of buyers and an oversupply in the housing market. Furthermore, experience in this type of transaction with non-Spanish buyers or sellers is essential, as the real estate market offers its stock mainly to potential foreign buyers, who have a vested interest in the acquisition of properties in Spain (British , Swedish, German, Chinese, Belgians, etc.), and who do not speak Spanish.

The failure of a sales transaction to complete implies loss of; costs; time; and research, for which there is no compensation. The causes of failure are more often than not legal problems that only a skilled lawyer would be able to foresee well in advance, thereby avoiding the breakdown of a purchase or sales transaction and facilitating the completion of the operation. Also, when there are no feasible solutions, the lawyer would know when to abandon the operation, before incurring more unnecessary wasted time and costs.

Collaboration with real estate agents or other intermediaries in the real estate market is a major means of business and the synergies generated are very profitable for both lawyers for real estate agencies, but the interest of the client should always be of prime importance, as it is their ultimate satisfaction that is our priority.

In our case, Marbella Solicitors – Lawyers in Spain  is a law firm with over 12 years experience in counseling and legal assistance in real estate matters. Contact us and ask for a quote without obligation at any of our offices (Manilva, Marbella, Mijas, Málaga, Velez-Malaga and Nerja), through our email:-. mail@marbellasolicitors.com or Tel: – 952 901 225.

José Manuel Garzón Macho
Senior Partner Axarquía Office

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