Procedures after buying a home
When buying a home we think that there is no more paperwork to do. This is not entirely true, therefore, we leave you some items that are important to take into account during this new stage. Before enjoying our house or apartment, everything must be in order.
1) Property Deed: This is the legal document that establishes the transfer of ownership of the house to your name.
2) If you financed your home purchase with a mortgage, you should sign the mortgage documents and make sure you understand the terms of the loan.
3) You may have to pay taxes related to the purchase of the property, such as property transfer tax (ITP) or value added tax (VAT).
4) Once you have signed the deed and paid the applicable taxes, the deed is recorded in the local property registry.
5) You must notify the utility companies (electricity, water, gas, etc.) of the change in ownership of the property so that they can update the information in their records and bill for services correctly.
6) It is advisable to take out home insurance to protect your new home against possible damage, theft or other risks.
7) If you have not already done so, it is advisable to review or create a will and conduct estate planning to ensure that your assets are distributed according to your wishes in the event of your death.
8) Notify relevant institutions, such as banks, insurance companies, employers, schools, underwriting services, etc., of your change of address.
