Using a Lawyer in Tenerife
Often estate agents will advise that you do not need to use a lawyer; they might employ some administrative staff to handle the conveyancing process. A surprising number of transactions meet problems, and in these cases are best handled by a lawyer. Estate agents have been known to ‘paper over the cracks’ when met with inconsistencies in their enthusiasm to make the sale happen. Often a problem may not rear its ugly head for years, in which case the agent may yet have planted some time-bombs. Basically, if an agent advises you not to use a lawyer: find another estate agent!
A lawyer is the only person qualified to examine contracts, deeds and all the associated paperwork on your behalf and advise you of any potential problems. Problems will undoubtedly create problems, and a lawyer’s fee is such a fractional amount compared to the sums involved in a typical sale, that it is probably not a risk worth bearing. For any sensible buyer, a lawyer should be an essential part of the process.
As in English, the legal profession has its own derivation of normal language, and unless your Spanish is fluent, a lawyer is the best person to explain the clauses in contracts that you sign. However, in order to completely understand, it is best to hear it in your own language, and therefore you should select a lawyer who speaks English well. Lawyers should also be bonded, a form of insurance that would reimburse you in the event that they make a mistake. Every lawyer that is registered in the bar (Colegio) is bonded automatically, because there is a collective insurance policy that covers malpractice, and the premium is included in the fees charged for belonging to the bar as a practitioner. Nevertheless, you should check the amounts insured, because there are certain limits and exceptions in the coverage.
Some lawyers are ‘tied’ to a particular estate agent, but there are various levels at which this association might exist. At the one extreme, an agent may employ a lawyer in-house. A sensible buyer would employ independent legal advice, because in this instance a lawyer may be working in the interests of the agent, rather than the client. At best there might be a conflict of interest. At another level, an estate agent may simply have negotiated a favourable rate for a lawyer on behalf of clients they refer.
Lawyers work on a scale of fees which relate to the price of a property, similar to lawyers anywhere in the world. You should be clear about the cost right from the start and agree exactly what is included in the fees, and of course, what is not. Most lawyers include an after purchase service in their fee, but others will charge extra for services such as paying the transaction taxes and inscribing the title deed.
Terry Langston is something of an impulse buyer: a pair of shoes here, a lovely handbag there … and a property in Tenerife! Though she may be spontaneous, Terry is nobody’s fool and with a successful career in the City of London behind her, she has a keen business sense. “I bought my first property in Tenerife seven years ago. I had only come for a week’s holiday, but I saw this lovely house in Chayofa, and just had to have it. I didn’t tell any of my friends or family, in case they put me off and I haven’t regretted it since.” Terry spends about six months a year in Tenerife, but the house in Chayofa was only the first of several over the years.
“I was recommended Gonzalez & Barco when I bought that first house,” Terry continued, “Top of my priorities was a lawyer who spoke perfect English. I can understand Spanish perfectly well, but it’s best to be absolutely clear with legal matters. Miguel Barco went to school in England and he is completely fluent so there’s no chance of misunderstanding anything.”
And choosing the firm proved to be one of Terry’s best decisions. “I think if you are buying property, you should always have your own lawyer. That way you can be sure that they have no vested interest in anyone else but you. It’s very reassuring to have a professional on your side.” Not all of Terry’s property transactions have been smooth as Terry explains, “I took title on a property in 2008, just as the banks were feeling the credit crunch crisis. The bank decided that they were only prepared to lend €30,000 less than they had promised.” Shortly afterwards, Miguel Barco went to see the bank on Terry’s behalf, returning with an offer for the amount Terry had first asked for. “A good firm of lawyers like Gonzalez & Barco is invaluable. They are always prompt to get back to me if I call, and the same people are working there as the day I first met them. That sort of continuity is important in a lawyer and makes the service excellent.” High praise which Terry maintains is absolutely justified.
Gonzalez & Barco Abogados, TenerifeTelephone: 922 736 156Send an Email |
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