Purchase and sale agreements are regulated by articles 1445 to 1537 of Spain’s Civil Code. For new-built properties, it is neccesary to confirm if the plot belongs to the seller, it has to be certified if the builder has obtained the building authorization.
The purchaser is also entitled to receive a copy of the insurance covering the construction. The bank guarantees when the purchaser has made payment to the seller, in this case if the contract is broken by the seller, the advanced payments will be returned. The advanced payments must be deposited in an account opened by the seller.
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