| EMPLOY AN ENGLISH SPEAKING LAWYER IN SPAIN WHEN BUYING A BAR |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
| Spain Business Guide English Speaking Lawyer Business Transfer Agent Benidorm & Costa Blanca Spain FREE advice for everyone |
If you do not speak or read Spanish you should employ a good
English speaking Abogado (Lawyer / Solicitor)
Often important things can be lost in translation so it is no good
relying on you lawyer to explain through his secretary what he is trying to
convey. You need to understand everything about the purchase and
what is in the lease or rental contract you are about to sign.
NOTE Only a Spanish Lawyer can deal with contracts in Spain
therefore you will find it necessary to have a Spanish lawyer who
will deal with final contracts as required under Spanish Law.
You should use a lawyer to check that a business is debt free as they
will ask the sellers lawyer to offer evidence that all is in order. They will
usually recommend that there is a retention held back from the
purchase price for a set time to ensure that any unpaid items can be
met as a precaution.
YOUR CASH Essential Note: Only ever pay a deposit in Spain to your
lawyer and never to anyone else. If requested to do so say you will
lodge it with your lawyer in their clients account. You will often be
told that if you do not pay straight away that the sale will fall through.
RUBBISH, it is a buyers market and you as a buyer have the power!
Walk away if necessary and find another agent.
NOTE ON AN "Aval"
PAYING A BOND / GUARANTEE TO A LANDLORD
Many Spanish landlords will request 6 or even 12 months rental bond /
deposit especially when renting or leasing to foreigners. NEVER simply
hand this over to be kept in the landlords bank account OR to an agent
as you will have no way of knowing if the money has been spent or
even worse kept by an agent.
The correct way to pay such a bond is in the form of an "Aval". The
amount is paid by you and kept by a nominated bank and held as a
guarantee against your contractual obligations to pay the rent. This
cannot be touched by anyone and is returned at the end of a contract or
in the event of a default by the tenant paid to the landlord in lieu of rents
owed. More info paying a deposit on a bar in Benidorm
Next page - What is a Gestoria?
English speaking Abogado (Lawyer / Solicitor)
Often important things can be lost in translation so it is no good
relying on you lawyer to explain through his secretary what he is trying to
convey. You need to understand everything about the purchase and
what is in the lease or rental contract you are about to sign.
NOTE Only a Spanish Lawyer can deal with contracts in Spain
therefore you will find it necessary to have a Spanish lawyer who
will deal with final contracts as required under Spanish Law.
You should use a lawyer to check that a business is debt free as they
will ask the sellers lawyer to offer evidence that all is in order. They will
usually recommend that there is a retention held back from the
purchase price for a set time to ensure that any unpaid items can be
met as a precaution.
YOUR CASH Essential Note: Only ever pay a deposit in Spain to your
lawyer and never to anyone else. If requested to do so say you will
lodge it with your lawyer in their clients account. You will often be
told that if you do not pay straight away that the sale will fall through.
RUBBISH, it is a buyers market and you as a buyer have the power!
Walk away if necessary and find another agent.
NOTE ON AN "Aval"
PAYING A BOND / GUARANTEE TO A LANDLORD
Many Spanish landlords will request 6 or even 12 months rental bond /
deposit especially when renting or leasing to foreigners. NEVER simply
hand this over to be kept in the landlords bank account OR to an agent
as you will have no way of knowing if the money has been spent or
even worse kept by an agent.
The correct way to pay such a bond is in the form of an "Aval". The
amount is paid by you and kept by a nominated bank and held as a
guarantee against your contractual obligations to pay the rent. This
cannot be touched by anyone and is returned at the end of a contract or
in the event of a default by the tenant paid to the landlord in lieu of rents
owed. More info paying a deposit on a bar in Benidorm
Next page - What is a Gestoria?
| 2010 © www.SpainBusinessGuide.com |