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CHARLES GOMEZ & CO

The Essential Guide to Buying and Selling Property in Gibraltar


The purchase or sale of a property is one of the most substantial transactions that people ordinarily enter into and because of this, it must be planned logically and independently in order to avoid the pit-falls. In this guide we have provided the essentials of the conveyancing process for the purchase or sale of a property in Gibraltar. If you are interested in selling, please ask for the details of our own ‘Fast Track’ procedure which will ensure that delays are minimized. Contact us at the earliest possible opportunity and before signing anything for a meeting to discuss this important transaction.

Stage 1 - Signing Reservation Agreement – usually this should be Subject to Contract ad signed only after obtaining legal advice - Pre-Contract Enquiries - Review of Title Deeds - Consideration of answers to Pre-contract Enquiries - Registry Searches (and where appropriate further enquiries relating to planning issues) - Where Mortgage funding is required liaising with the lender - Advice on optimum structure for ownership


Stage 2 - Drafting Agreement for Sale with Conveyance of Deed of Assignment and inventory of furniture, fixtures and fittings attached - Effecting Exchange of Contracts and arranging for payment of deposit – note that it is only at this stage that the parties will be legally obligated to complete the transaction - Where appropriate an Energy Performance Certificate will need

Stage 3 - Completion of the purchase at which stage title and occupation are transferred upon payment of the balance of the Purchase Price - Execution of Conveyance or Deed of Assignment and, where appropriate, Mortgage Deed - Obtaining Possession and transfer of utilities - Stamping and registration of all documents with statutory time limits - Once the process of registration is completed, documents are kept in safe storage or sent to the Purchaser or the Mortgagee (as appropriate)


Property  

Your Essential Guide to the Conveyancing Process

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