My new building is ready. What are the options for commissioning and what timing should I consider?

Once the property is physically ready, the promoter has to go through a few more administrative steps.

1. The promoter asks for a 'licencia de primera ocupación' (LPO) to, or freely translated a 'certificate of conformity'. This is a statement to or from the municipality (depending on the region) confirming that the property complies with applicable regulations. The protection of the bank guarantee stops at this point.
2. As soon as the certificate of conformity is obtained, the early move-in possible. Early move-in means you move into the property before you own it. Not every promoter allows this. Usually, in exchange for early occupancy, the promoter requires an additional payment of between 80% - 100% of the balance of the purchase price. Therefore, if you opt for early occupation, you will pay the outstanding balance of the purchase price without taking ownership. The risk is that in case there is a financial problem with the promoter, you will only have an ordinary claim. Also, you can no longer withhold money in case of a serious construction problem. Finally, the legal warranty period starts from this commissioning. The promoter does provide for connection of water and electricity through the yard in case of early occupation.
3. The promoter/builder, after obtaining the certificate of conformity, makes the ‘'escritura de obra nueva' on. This is a notarised deed that gives the property its own registration number and description in the property register. The obra nueva in other words, is a file consisting of the certificate of conformity, the attestations of the 10-year liability insurance for structural defects, the architect's declaration, etc.
4. Based on this registration number, your property will be individualised and you can execute the deed of sale. The deed of sale can therefore be pasted from the obra nueva is filed with the notary.
5. But we recommend Wait to execute the deed of sale until the registration of the obra nueva is completed in the property register. Indeed, the property registry assesses the file of the obra nueva, and if there would be errors in it, its registration is refused and the promoter or builder has to make adjustments. For example, because the property was not correctly described by the architect, registration is refused. The architect must then prepare a new description. Registration in the property register usually takes 1.5 months.
6. After the property is registered in the property register, it is safe to schedule the deed of sale. This can be done quite quickly. Usually, we talk about 1 to 2 weeks.
7. After the deed of sale is executed, you will be the owner of the property. After this, we can apply for utilities in your name. This may take 30 days, unless the promoter himself continues to provide utilities on a temporary basis. So bear in mind, at worst, that the full commissioning can take place after 30 days from the execution of the deed of sale. From the execution of the bill of sale, a rental licence be requested.
8. After registration in the property register, the property will also be declared in the cadastre. Based on the data in the cadastre, a cadastral value is determined for calculating period taxes. This usually takes about 1.5 to 2 years.