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GUIDE TO THE HOUSING

1. Requirements you should consider when choosing

The choice depends on the purpose it will give you.

In choosing the location, you have to take into account several aspects: access, transportation facilities, water supply, social facilities (schools, hospitals, etc.), green areas, sun exposure, etc.

As for housing itself, there are several aspects to be analyzed: the overall quality of the building, thermal and acoustic insulation, interior finishes, available space and its distribution, etc.

Cellars are more prone to floods and humidities and the upper floors may be more subject to temperature variations, infiltrations, and possible machine noises from elevators.

In the case of used dwellings, the analysis of their conservation status takes on particular importance, namely the state of façades, plumbing (water, gas, electricity) and coatings.

It is convenient to keep in mind the warranty period against defects in construction, which is 5 years after the purchase of new housing.

2. Legal care to be taken

Before you formalize your decision to purchase the home, you should make sure that it meets the basic legal conditions. This will allow you to make a safe purchase and without unpleasant surprises.

In the Real Estate Registry of the real estate area, you can check if:

- Ovendedor is the real owner, that is, if the property is registered in his name;
- There are no mortgages or pledges in favor of third parties;
- The property or fraction is not subject to any usufruct in favor of third parties.

In the Finance Department of the real estate area, you can check if:

- The property is vacant, that is, free of heirs with preemptive rights or renters;
- The Municipal Contribution is current, in the case of purchase in 2nd hand, or if the property responds by the payment of this tax.

At the City Hall, you can check:

- If the Construction and Housing Licenses have already been issued;
- In the case of acquisition of land for construction of future housing, if the land is located in an area authorized for urban constructions, ie if a Landlord's Permit was issued;
- If the land is authorized for construction, what characteristics of the housing you can build.

In the Courts or Commercial Information Companies, you can verify that:

- The seller is not in a situation of bankruptcy, nor is he or she engaged in the commission of an intentional crime that renders the alienation of his or her own assets ineffective;
- If you decide to buy the property in plan, inquire if the promoters have the capacity and suitability to take the enterprise to fruition.

3. What should be included in the Contract-Promise

The decision to buy and sell the dwelling is formalized through the Promissory Contract of Purchase and Sale.

This document regulates the rights and obligations of the parties and the conditions established in the business during the period that elapses until the final contract is executed (the deed).

The Contract-Promise must contemplate the following aspects:

- Identification of the interveners, proponent-buyer and seller-seller (name, marital status, profession, residence, identity card, tax number, etc.);
- Identification of the property to be transacted (location, number of police or confrontations, property description number, matrix item if already allocated by the Finance Office, composition of the dwelling (typology or rooms), building or housing license number, such as the issuing entity and its date, basement, covered patio, garage, storage room - etc.);
- Price of the transaction and method of payment, including the value of the signal, signal strengths and timing thereof;
- Explicit indication that the property will be sold free of any charges and charges.
- The maximum term for the conclusion of the definitive agreement, and it may be agreed to pay interest at a certain rate if the term is exceeded because of the fault of either party;
- Make reference to the loan already requested or to request the bank, to the fact that the purchase is dependent on this loan and providing, if this is not granted, the consequent refund of the signal.

In the event of non-fulfillment of the contract-promise for imputed cause to the promissory-buyer, the seller has the right to make his the value of the signal.

If the breach of the stipulated in the contract occurs due to imputed cause to the promissory-seller, the seller is obligated to pay to the promissory-purchaser double the amount of the signal, by way of compensation.

The law establishes that all the amount delivered to the promissory-seller is a signal, and the promissory-buyer must always demand the receipt of all sums delivered.

Keep in mind that the contract is an agreement between the parties involved.
Never sign the contract-promise of buying and selling without looking very carefully at all the clauses.
Ask the seller for a contract template in advance so that you can review or show any lawyer you trust.
Make sure that the clauses provided for satisfy your particular situation.
Check that the deadline is sufficient to handle all documentation.
Inquire at the bank about the probable time for writing.
Try to set as long as possible to safeguard some delays that may arise with obtaining the necessary documentation.

4. Main steps in housing credit

After your home purchase decision, it is time to formally initiate your credit application to the bank.

On the basis of the amount of the loan sought and the basic data relating to the property to be acquired and its level of income, the bank will give you a quick answer in principle about the feasibility of your request.

Then he will ask for a set of documentation and will evaluate the house. Thereafter, it shall communicate to it the final decision on the grant and conditions of the loan.

From this set of documentation, we highlight the house plans, the identification documents of the proponents and the proof of income and the composition of the household.
In the case of credit for construction, expansion or remodeling of the house, the permit or building permit, the approved project and the budget for the works to be carried out must also be delivered.

5. Provisional registrations

After authorization of the loan, the buyer will have to make the provisional acquisition and mortgage records in the Land Registry of the real estate area.

The mortgage registration must be made in the terms indicated in the draft to be provided by the Bank for this purpose.
These registrations will expire after 6 months from the date of the application in the Conservatoire.

In addition to these records, the buyer must also request, in the Registry, a Certificate of Content of all the records in force regarding the property to be acquired.

For any of these purposes, you must present the Urban Building Certificate or, in your absence, the certificate of the application for registration in the matrix passed by the Tax Office.

6. Pay the IMT tax

If there is no exemption from this tax, your payment is made at the Finance Department, before the execution of the deed of sale.

You should keep the proof of payment passed by the Finance, as you will be asked when the deed is marked.

7. To enter into the deed of purchase and sale and mortgage

At the time of writing, two separate contracts take place.

The first is the purchase and sale agreement, through which the buyer becomes the legally recognized owner of the property.

The other loan-to-mortgage agreement is entered into between the buyer (debtor) and the bank (creditor) and stipulates everything that relates to the debt contracted (their value, interest rate, repayment terms, etc.) .

After the conclusion of the latter contract, the bank releases the authorized amount, allowing the buyer to pay the seller the portion of the transaction value that still had to be paid.

In addition to the personal elements of the parties involved (Identity Card, Tax Number, property regime, complete addresses and Registration Certificate

(If any of the participants are a company), in the celebration of the deed, the following documents are necessary:

- Certificate of contents of all registrations in force, which already include the provisional registration of acquisition and mortgage registration.
- Urban Building Book or certificate of the application for registration in the headquarters passed by the Finance Office. The building register must be updated by the Finance Department of the property area (the visa lasts for 1 year).
- Use license or proof that it was requested to the City Council. In the latter case, the license to use will be replaced by the permit for the construction of the property. Usually this situation occurs in the case of a newly built property (first transmission).
- Property and life insurance policies (when required).
- Document proving the payment of IMT
- Energetic certificate

8. Request exemption from Municipal Contribution (IMI)

Houses for permanent residence of the household and those for rental housing may benefit from exemption from this municipal tax for a period of 3 to 6 years, depending on the property value of the property.

The new owner has a period of 90 days, after the execution of the deed, to request, in the Tax Department of the area of the property, the exemption of Municipal Contribution.

9. To convert definitively the provisional registers

After the deed of purchase and sale and mortgage, the bank will convert the provisional records into definitive.

10. Cancel the mortgage

After the loan is fully settled, the bank issues a document in which it waives the mortgage that was set up in its favor ("distract from the mortgage") and in which it declares the debt settled, leaving the bank to exercise any rights over the home.

This document must be delivered by the owner at the Land Registry, for the purpose of cancellation of the mortgage registration.
The cancellation of the mortgage is the last step that involves the purchase of a home using credit.

Carefully keep the building permit, the deed or the private document, the insurance policies and any other documents relating to the dwelling you purchased and the loan you have purchased.