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The Property Registry Extract: Your Ally in Home Buying - What You Need to Know Before Making a Deposit

Writer's picture: Brokers FinanceBrokers Finance

When you're about to buy a home, excitement can cloud your judgment. However, before handing over any money as a reservation or deposit, there's a crucial document you must review: the property registry extract (nota simple in Spanish). In this article, we'll explain what a property registry extract is, what information it contains, and why it's so important to review it before making a financial commitment.


What is a property registry extract?


A property registry extract is an official document issued by the Property Registry that provides key information about a property. It's like the property's "ID card," offering a summary of its current legal and financial situation.

Information contained in a property registry extract:


  1. Current owner's details

  2. Physical description of the property (location, surface area, etc.)

  3. Charges and encumbrances (mortgages, seizures, etc.)

  4. Affectations (easements, usufructs, etc.)

  5. Marginal notes (additional relevant information)


What should you review in the property registry extract before making a deposit?


  1. Ownership: Verify that the person selling you the property is indeed the owner.

  2. Charges: Check if there are any mortgages or seizures on the property. If there are, you must ensure they will be canceled before the purchase.

  3. Surface area and boundaries: Confirm that the description matches what you've seen and been offered.

  4. Affectations: Check if there are any easements or usufructs that may limit your use of the property.

  5. Marginal notes: Look for information on possible legal proceedings, expropriations, or any other circumstance that may affect the property.


Risks of not reviewing the property registry extract:


  1. Real estate fraud: You could be dealing with someone who isn't the real owner.

  2. Hidden charges: The property could have undisclosed mortgages or seizures.

  3. Usage limitations: You might discover too late that there are easements limiting your enjoyment of the property.

  4. Legal problems: The property could be involved in a legal process that complicates or prevents the purchase.

  5. Loss of deposit: If you hand over money without reviewing the property registry extract and later discover problems, you could lose that deposit or have difficulties recovering it.


How to obtain and review a property registry extract:

You can request the property registry extract directly from the Property Registry or through their website. The cost is minimal compared to the risk you avoid. If you don't feel confident interpreting the information, don't hesitate to consult with a mortgage broker. These professionals are familiar with such documents and can help you understand their implications for your mortgage and property purchase.


The property registry extract is your best ally in avoiding unpleasant surprises when buying a home. Taking the time to review it before handing over any deposit can save you many headaches and potential financial losses in the future. Remember: in the real estate world, caution and information are your best tools.


At Brokers Finance, we always recommend our clients carefully review the property registry extract before proceeding with any transaction. If you need help interpreting this document or have questions about the buying process, our team of experts is here to assist you. Don't hesitate to contact us!

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