You should know that you would not be doing anything illegal, but it is not convenient that you do it because many potential buyers may distrust you.
If the opposite happens and what you want is to buy a house that is not titled: the first thing you would have to do is find out why.
The seller will have to tell you that. One of the most common cases is the construction of the house illegally (he has built it himself, without requesting the building license).
However, the seller is sure to have the title deed to the land or parcel where the house is built. With which, it is legal to sell a land in which there is a building even if it is not deeded.
If the seller does not have this deed, then he would really be cheating you and you should not accept it and continue with the operation.
Of course, whether you are a seller or a buyer, you have to know that the sale price is different because what you are selling or buying would be the land, not the house.
The appraisal will be for the value in euros of the m2 of the land. The next thing you would have to do if you wanted to buy a non-titled home would be to ask for a Simple Note.
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Thus, you could see that the documentation provided by the seller really matches what they put in the simple note.
And finally, in order to continue with the operation, you would have to consult the technical urban planning services of the municipality where the house is located to see if that built house is legalizable or not.
Consequences Of Selling A House Without Being Registered
As you already know, a house can be sold without being registered. However, it can bring you some negative consequences. Here are some:
On the one hand, not having a registered home will make you lose legal security.
Why? Because the Property Registry serves to give public faith of what is registered: it is known who the owner is, if there are charges or not in the house and it will defend the rights of the owner.
- On the other hand, as we have already been announcing, it will cost you more to transfer the home because that owner does not have legal security. The seller must prove that the home is yours.
- For the buyer of an unregistered home, the costs of registering it will be much higher and the procedures are more complex.
He thinks that the notary’s office and the property transfer taxes of two houses must be paid. Both the one you want to register at this time and the previous one, because there was no record in the Registry.
- If the home is not registered, you cannot qualify for a mortgage loan.
- If the home is not registered, there will be no evidence of possible charges so there will be buyers who back down.
- Since the costs that the buyer will have to assume to register the home are higher, this price will be added to the fixed sale price. And those extra costs of having to register it, can make you lose buyers.
- And here is the post today! We hope that with this you will think about whether or not it compensates you to register the home, and if you want to receive an offer in 24 free and without obligation, we will do it for you.