Important documents when buying real estate

What documents are important when buying real estate?

When buying a property, it is important to obtain all the necessary documents from the seller to ensure that the purchase is legally and technically sound. Here are the most important documents you should receive:

1. Building permit: This document confirms that the building has been constructed in accordance with local building codes and permits. It ensures that the building is safe and complies with building regulations.
2. Uso de Suelo (Terms of Use): This document indicates how the property may be used. It is important to ensure that the intended use complies with applicable rules and regulations.
3. Cadastral plan (visado): The cadastral plan shows the exact location and dimensions of the property as well as the buildings on the property. It should be approved and visted by the local authorities.
4. Electricity permit (Carta de disponibilidad de electricidad): This permit confirms that the building can be connected to the electricity grid and that all necessary installations comply with local regulations.
5. Water permit (Carta de disponibilidad de agua): This permit confirms that the building has a legal water connection and that the water supply complies with local regulations.

It is important that all these documents are issued and valid by the relevant authorities. If you have any doubts, you can contact a lawyer or a real estate expert to make sure that all the necessary documents are in place and valid. This will help you avoid any potential legal issues in the future and make the buying process go smoothly.

What can happen if you don’t have these documents?

If you do not receive all the necessary documents when buying a property, various problems can arise that can jeopardize your investment. Here are some possible consequences:

1. Legal issues: Without the building permit, the building may not comply with local building regulations. This can lead to legal disputes and mean that you may not be able to use the building as intended.
2. Restrictions on use: Without the Uso de Suelo document, you may not be able to make the desired use of the property. This can limit your plans for the property and affect the value of the property.
3. Missing information: The cadastral plan is important to know the exact location and size of the property. Without this plan, you can’t be sure what you’re buying, and you may have problems setting the boundary.
4. Supply interruptions: Without the electricity and water permits, you may have problems connecting to the utility grids. This can lead to interruptions in the power and water supply and affect your quality of life.
5. Depreciation: Overall, the lack of important documents can reduce the value of your property. Not having the documents can deter potential buyers and make it more difficult to sell the property at a later date.

It is therefore important to ensure that you obtain all the necessary documents before buying a property to avoid legal issues and financial losses.