Novalegal Abogados draws up or reviews a wide number of contracts such as:
- Sale and purchase contract.
- Deposit reservation contract.
- Lease contract.
- Business agreement.
- Loan agreement.
- Articles of association.
- Agency agreement.
For instance, the buying process usually starts with a preliminary contract known as ‘Contrato de Compraventa’. That is the equivalent to an exchange of contracts in other countries and has the same legal implications. Once the contract is signed, the buyer will be liable to fulfil the deadline stated on the contract or he/she will lose the deposit may incur penalties. The seller will be liable to sell the property at the agreed price, otherwise legal penalties will be incurred.
The purchase contract may contain some special clauses like ‘subject approval of mortgage, no infractions on the property, legal searches, etc., depending on each particular case.
In summary, our Lawyers will outline the conditions and terms of the voluntary binding agreement to ensure the rights of parties are protected and enforcing them in the event of breach of contract.