The fixed mortgage is a legal figure that guarantees the fulfillment of certain contractual obligations contracted between two or more parties. We are talking about real estate loans, among others, where the house itself to be acquired, or some other, serves as collateral for the creditor on behalf of the debtor. In this type of financing, a determined payment in…
Taking out a mortgage is a very important form of credit in today’s society. It is a financial product that you should know well in order to enjoy the benefits it offers. In this sense, there is a universal protocol for the initial procedure that includes a series of requirements that allow for guarantees and understanding between the parties. It…
Have you ever wondered how a mortgage works? Acquiring a mortgage loan is one of the most popular ways of acquiring a home in Spain and much of Europe. Knowing its main elements will help you understand how it works and here we are going to show them to you. Mortgages are one of the most widely known and used…
Since 2015 there has been a lot of debate regarding mortgage fees, as many people consider them excessive. That is to say, expenses such as: notary, registration, agency, appraisal and opening commission. In view of this problem, clauses have been established to regulate this process. That is why we inform you about the new measures to regulate mortgage expenses. Updating…
Do you know to what extent earnest money contracts are relevant in real estate transactions? We know that buying a property is not a simple process or anything like it. In fact, one of the details to highlight is the documentation that must be in place at the time. What is an earnest money agreement and what is it needed…
Law came to regulate human behavior. Owners in condominiums are subject to rules of coexistence and respect. However, they are also entitled to assert their prerogatives before neighbors and third parties. The legislation of Spain, through the Horizontal Property Law, regulates the powers of the owners living under this regime. Rights of owners in a condominium The powers of the…
Civil liability of homeowners’ associations Owners of properties or developments have civil liability if they unfortunately cause damages to third parties as a consequence of mismanagement of common areas. In this sense, it is the duty of the owners to ensure the proper functioning and conservation of the construction elements. This liability implies that damage may be caused to the…
To begin with, we will explain what the term IRPH means. Basically, the acronym stands for Índice de Referencia de Préstamos Hipotecarios. This clause deals with how to acquire a house for a term of three years or more. These loans are currently supervised by the Bank of Spain. This mortgage is calculated based on the estimated interest rates that…
Sale and purchase of a property between private individuals Do you need to sell a property and have doubts? In the process of buying and selling a home, it is normal to have many questions associated with the procedures that must be carried out between private individuals. Questions such as: Can I sell or buy without the intervention of a…
Many people wonder if it is possible to buy a home that is not paid for. When a home is sold, the seller and buyer agree on a price and the seller signs a contract for the sale of the home. The buyer is responsible for taking possession of the property, and the seller is responsible for maintaining it. And…
