The concept free of charges refers to the property that does not present any limitation on its domain, that is, that no embargoes weigh on it, Mortgages, resolution clauses, etc.
It is important to know the definition of free of charge to enter the real estate world, especially among potential buyers, since otherwise there is the risk of having to face them in the future.
Among other things, you will have to request a series of documents, such as a simple note to the college of registrars to know the status of the mortgage that weighs on the house, as well as proof of payments to the administrator of the property to know that the current owner is up to date on payment receipts, such as the community or possible spills.
How to know that it is free of charges?
Once the home that meets your needs is found, it will be time to start with the paperwork to determine that it is free of charges and debts. The steps will be as follows:
- Claim a simple note of the house to verify the ownership and characteristics of the property. In this way we will check if what the owner had commented in terms of mortgages, tax charges and liens is really true. For this, you will have to go to the Property Registry.
- Consult the administrator of the farm if he is up to date with the payment in his obligations as a neighbor. Check that you have paid the monthly community fee, spills, etc. You must provide a certificate that guarantees that you do not owe anything, otherwise all debts would have to be assumed by the new owner.
- Check that all municipal taxes have been paid. This is the case of the IBI, the Real Estate Tax. The seller has to sell the property free of this type of charges.