Which Documents to Check Before Buying a Property?

Buying a property is a significant step that requires careful consideration of numerous legal and technical documents to avoid future risks and complications. Here is a comprehensive guide on the essential documents to verify before completing a purchase.

Deed of Ownership
The deed of ownership is crucial to confirm the current owner and how they acquired the property. This document reveals whether the property was purchased, inherited, or received as a gift. It is essential to verify the legitimacy of the property transfer.

Gifted Properties
Gifted properties may be subject to legal disputes from the donor’s heirs. Consulting a notary is crucial to assess the risk of potential challenges, which can occur up to 10 years after the donor’s death or 20 years after the gift itself.

Land Registry and Floor Plan
The land registry provides detailed information about the property’s status and should be compared with the floor plan to identify any discrepancies. Any irregularities should be resolved by the seller before the sale to avoid future complications.

Building Permit
It is essential to verify that the property has all the necessary building permits, including those for any extensions or modifications made over time. These documents ensure that the property complies with current urban planning and building regulations.

Mortgage Search
A mortgage search reveals any encumbrances on the property, such as mortgages, easements, or liens. These constraints can automatically transfer to the new owner, so understanding their extent and implications is crucial before proceeding with the purchase.

Mortgage Documents
If the buyer assumes an existing mortgage, obtaining a copy of the mortgage agreement, the amortization schedule, and payment receipts is necessary to verify the regularity of payments. These documents are crucial to understanding the financial obligations transferred to the new owner.

Certificate of Habitation
The certificate of habitation confirms that the property meets safety, hygiene, and energy efficiency standards necessary for residential use. Without this document, the property may not be suitable for habitation without costly structural modifications.

Energy Performance Certificate (EPC)
The energy performance certificate classifies the building based on energy efficiency, indicating energy consumption and heat loss. This document is mandatory for property sales and rentals, providing an overview of the property’s energy efficiency.

Condominium Documents
If the property is part of a condominium, reviewing the condominium regulations is necessary to understand rules and restrictions for owners. It is also important to verify payment of condominium fees to avoid future liabilities and check for legal disputes that could affect the new owner.

Conclusion
Buying a property is a significant investment that requires a diligent review of relevant legal and technical documents. Thoroughly verifying these documents before completing the purchase can help avoid future legal and financial issues, ensuring a secure acquisition that complies with current regulations.