Examples of Polaris World Purchase Agreements
Once you have decided on to buy a property and paid the reservation deposit, the next stage of the buying process is the signing of the private purchase contract or purchase agreement.
This contract is signed approximately 30 days after the initial reservation deposit is paid. The contract is essential for the buyer as it states the legal description of the property, the full price, details the payment terms and both parties’ obligations which are in this case, you - the buyer and the developer - Polaris World.
Polaris World sells so many properties every year that it works closely with an independent firm of lawyers who compile and check every one of their purchase contracts with a fine toothcomb. Polaris World contracts appear in both Spanish and English so you can read and fully understand all the terms prior to signing.
However, we recommend that you employ the services of a Spanish lawyer who will make independent checks on your behalf. We work with several English speaking lawyers in Spain who are entirely independent of Polaris World and are happy to recommend their services.
On signing the private purchase contract you have to pay 25% of the agreed property price, effectively the first instalment. With Polaris World properties there is a further payment of 15% due approximately nine months later and then a final instalment of 60% on completion of the property.
The payments to be made are all comprehensively detailed in the purchase agreement. Below we have several examples of purchase agreements which we advise you to study carefully in order to familiarise yourself with the contract layout.
If you have any further queries about purchase agreements please to not hesitate to contact us directly, one of our friendly property team will be able to answer any of your questions. Call us on U.K Freephone 0800 082 0099 or Irish Freephone 1800 550 264 or internationally +34 952 83 9406
Here you can download PDFS of Polaris World purchase agreements
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