Meter readings when selling a property

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04 May 2011 00:00 by angelafield Star rating. 3 posts Send private message

I live in the UK and have recently sold my property in Spain.  I am due to complete the transaction in May and my lawyer tells me there is no need for me to take meter readings for the electricity (Iberdrola) or water (Aquagest).  Is this correct?  I pay my bills by Direct Debit but as they are usually estimated I don't see how I can cancel these before I know the final payment.  Any advice would be appreciated.





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04 May 2011 00:48 by Team GB Star rating. 1245 posts Send private message

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Hi

Good lawyers will make arrangements to have the meters read a few days before the deal completes at the notary, your main safeguard is that the buyers will also want to be sure that they are only paying from  the time of completion and thier lawyer should be on the case to have the meter readings and get the utilities changed to the new names to ensure uninterrupted supply.

 Your final payment for the utilities should be itemised on your completion statement, so if your buyer has signed a private purchase contract I would cancel your direct debits now

s



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04 May 2011 12:29 by jek Star rating. 249 posts Send private message

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Definitely cancel the direct debits immediately.  Any bills following completion at the notary become the liability of the new owner - which is why he's going to want to take metre readings - which your lawyer should check to ensure he's not overstating by lots.





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04 May 2011 21:46 by angelafield Star rating. 3 posts Send private message

Thanks very much for the responses.  It never ceases to amaze me how inefficient the lawyers in Spain appear to be (or maybe I have been unlucky on the two occasions I have needed their services)...!!!  Some of agents are no better either and it's like pulling teeth trying to get a straight answer from them!

I was in the property business for many years in the UK so luckily I know when to query something or be a little suspicious if I feel I have been mis-informed, but I feel so sorry for those poor souls who are at the mercy of these people who have such a laid back attitude to what is probably the biggest purchase a person will make.

I have never understood why Spain doesn't have a similar check system to that in the UK whereby the lawyer (or agent) provides both the buyers and sellers with a Sales Brief that lists  what each party need to do to ensure a smooth transaction. 

Oh well, once I have completed my sale I wont be buying another but I am very grateful to the individuals who responded very quickly to my question..!!

Thank you

 





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