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Buying a New-Build Property in Madrid

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Buying a New-Build Property in Madrid

How to verify the developer, licence, staged payments, specification and completion documents for a new-build purchase in Madrid.

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Buyer warning: Marketing plans and a reservation form do not define the entire purchase. The approved project, contract and payment protection must be reviewed.

Essential legal checks

  • Developer identity, title to the land and authority.
  • Land Registry charges and development finance.
  • Building licence and approved plans.
  • Exact unit, garage, storage, terrace and common facilities.
  • Binding specification and permitted substitutions.
  • Protection and destination of advance payments.
  • Construction and delivery timetable.
  • Delay, cancellation and refund provisions.

Advance payments

Verify the recipient account and documentary protection applying to every instalment. Preserve transfer and guarantee documents.

What is being delivered?

Identify the binding plans and specification. Do not leave promises about size, views, facilities or finishes only in marketing material.

Completion

Review occupancy, utilities, community arrangements and Registry description. Snagging complements but does not replace legal review.

Frequently asked questions

Is the reservation protected?

Protection depends on the legal arrangement and documents. Obtain advice before transferring it.

Can the developer change materials?

Only within legal and contractual limits; the contract should control material substitutions.

What if delivery is delayed?

Rights depend on the contract and circumstances. Do not accept extensions without advice.

Buying property?

Have the title, risks and contract reviewed independently before paying a deposit.

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Legal disclaimer: General information only, not legal advice. Obtain current written advice for the specific property before signing or paying funds.

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