Do you know what the registration price is in the property registry?
The administrative issues surrounding the purchase of a home can become a real headache. Although we would all love that, after signing our contract, we could already enjoy our new home without having to do anything else, the truth is that after this rubric there are still a series of procedures to be fulfilled.
However, despite the fact that depending on what moments they can become somewhat complicated to carry out, some of these procedures can be resolved shortly after buying the new home. We are referring precisely to the one that refers to the registration price in the property registry.
Do you want to know all the details surrounding the price of the registration in the property registry? In this article, from Sky Marketing we explain it to you.
What is the price of registration in the property registry?
It is one of the questions we most tend to ask ourselves when we buy a new home. And it is one of the moments in our life in which we have the perception of anything we do costs money.
Well, indeed, the registration in the property registry also has an added price. Despite not being very high, it is important that we take it into account when buying a new apartment. Well, it is these small expenses that we never initially anticipate, which make the price of our new home skyrocket above what we had initially raised.
Actually, at this point we cannot set a certain amount, since there is no fixed fee for all types of homes. The fee will depend on the home that we want to register, as well as the characteristics that it presents. The rates are approved by the Government and are always available for consultation in the Official State Gazette.
At this point, it should be noted that the price of registration in the property registry is much cheaper for the homes that we buy, than for the homes that we buy through a mortgage. Well, from the latter there are a series of expenses that must also be included when registering the home.
Therefore, returning to the issue of price, these may vary depending on the year in which we want to register the home. But we will always be able to consult them officially in the BOE.
As an example, for a house with an approximate cost of 250,000 euros, the registration price in the property registry will be approximately 461 euros.
However, it should be noted that there is always a fixed minimum and maximum. This amount is between the minimum € 24.04 and the maximum € 2,181.67.
Is it mandatory to register my new home in the Property Registry?
In Spain it is not mandatory to register our home in the Property Registry. Therefore, if the registration price in the property registry seems too high, it is convenient to know that we can ignore it , if we wish. However, it is important to know that it is really convenient to do so.
The registry is a complement that serves as a way to secure the operation that precedes it, be it a purchase or an inheritance. It is one of the most effective ways we have to protect the owner of the home, to disclose all the information about it and, in addition, so that when it comes to selling it in the future it is much easier to do so.
In this last question, this refers to the fact that when we can do a business with our house, it is imperative that this transaction includes the data of the person who buys and who sells the house. In addition, it is essential to know that the person who is selling the house is who claims to be the owner of it. Although there are other ways to check who owns the home, the truth is that through the Property Registry it is one of the most useful to carry out this question.
The only case in which we are going to be forced to register our home is when we want to re-mortgage the house. If we want to request a second mortgage from the bank because we are not capable of dealing with the first one, one of the requirements that any bank will put in order for it to be able to do so is that it appears in the Property Registry.
How can not registering my home in the Property Registry affect me?
Once we have already verified that we are not obliged to register our house in the Property Registry, it is necessary that we identify what we may face for not carrying out this procedure.
Difficulty in the process of buying and selling the property
As we have already verified, not registering our home in the Property Registry can lead to a series of problems when it comes to wanting to sell our home in the future.
From the need to verify the owner of the home at the time of making the transaction, it is clear the importance derived from registering the home.
Inability to access a mortgage loan
For a mortgage to be fully validated, it must be collected in the Property Registry, as stated in article 1875 of the Civil Code. Therefore, if we do not access the registry of our home, we may have a real problem when it comes to needing access to a mortgage loan.
Lack of confidence when carrying out any transaction
In addition to many other things, the registration of any home in the Property Registry is one of the best ways to achieve a higher level of confidence in our home.
Today there are many home buyers who do not trust the homes that are not on the record. Once we have verified that the price of registration in the Property Registry is not a really high sum, as owners we must reflect on whether we are willing to assume what is related to the non-registration of our home.
The truth is that due to the amount that it supposes compared to the total cost of the house, what is related to the price of registration in the property registry is one of the most profitable costs we can get. On the contrary, saving in this process can have important consequences when we want to use our home as if it were an investment.
From nova city islamabad we recommend you assume the registration price in the property registry. Secure the future of your home and forget about problems.