Pre-Contract Enquires & Deposit Contracts in Spain
The making of proper pre-contract enquires is a basic and sound step to ensure a smooth transaction that protects your interests as the purchaser and the interests of the vendor while also ensuring that you can avail of the professional assistance of the estate agent to best advantage. This is a fundamental process that should be part and parcel of the decision to place a deposit on a property and indeed should form the basis of the terms upon which such a deposit is given. Although to many the term “pre-contract enquiries” may seem like an aloof legal term, the process merely serves to assist the purchaser and the vendor to reach an agreement in a more efficient manner by bringing to light the true nature and circumstances of the property that is being sold. The advantage of making such enquires is that the process of purchasing or selling the property moves efficiently while at the same time it minimises the risk of the deal falling through at the final stages. Ultimately, the process should protect against a last minute insurmountable problem coming to light on the proposed day for the signing of the escritura pública (title deeds) at the notary’s office with all the financial consequences that this may entail.