Completing at the Notary

Posted by Daniel Martinez in Before Property Purchase | Tagged , , , , , , , , , | Leave a comment

Completion at Notary

On this day, all parties are either present or legally represented at the Notary and the deed is signed by all parties for the tranaction of the property to take place.  If a mortgage is required or for that matter cancelled, separate deeds for acquisition of mortage (purchase) or cancellation (sale) of mortgage will also be signed by the appropriate party and their bank.  It is when these deeds are signed that the keys are normally handed over to the buyer and the buyer takes possesion of the property free of tenants.  The buyer will normally be required to pay notary fees and the land registry and will have a period of 30 days to pay ITP tax, plusvalia and 3 % capitals gains (if retained from vendor).

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