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El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche. www.costaluzlawyers.es

Legal tip 1257. Deposit contract in simple terms
Wednesday, February 4, 2015 @ 12:17 PM

Once you sign a deposit contract for the purchase pof a house, you are tied to its conditions which might impact the full acquisition, so....pay good attention:

 These are all details contained in that agreement:

1.- Personal identification of seller and buyer

2.- Enough, official and clear identification of the property (Nota simple required,click here for more information)

3.- Definition of the contract which is being signed ( very important as this impacts refund rights if you withdraw) agreed price, method of payment (expressing if any amount is delivered as a deposit or on account of the price)

4.- Expenses and Taxes payer.

5.- Time within the public deed needs to be signed

6.- Implications of cancellation agreement

The more in detail and tight, the more peaceful your purchase process will be.

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