When I bought my first home, I didn’t know what a nota simple (land registry extract) was.
Nor what it was for, what information it could give me, whether it could be incomplete or even wrong… and much less how to use it to my advantage.
Today, however, it’s the first document we professional real estate agents use before starting any serious conversation.
A nota simple is an informative document from the Land Registry that shows the legal status of a property. You can check who the owner is, whether the home has mortgages, seizures or other charges, and its basic details.
It has no legal value as a certification, but it’s the fastest, most practical way to know whether a property is “clean” before buying, selling or applying for financing.
In short: the property’s medical check-up before taking the next step.
A real (and very common) case
A few months ago, some clients showed me the nota simple of a home they were interested in buying. The price was very attractive and the intermediary had avoided showing this document from the start.
The home concealed, in a confusing way, debts that almost doubled the sale price of the house.
And here comes one of the most important points many buyers are unaware of: when you buy a home, you also buy its charges and debts.
Buying a home is a very serious matter
A property purchase doesn’t allow improvisation. It’s essential to take every step with security, with clear information and with the guarantee that there are no unpleasant surprises, hidden charges or legal problems that could ruin the deal.
Thanks to correct handling from the start, my clients avoided losing more than 25,000 euros, plus the upset, stress and costs that trying to recover it would have involved.
We kept working together and eventually found another home that did meet all the requirements. What’s more, I secured a discount of almost 10% off the asking price, the result of market knowledge and good negotiation.
If you’re thinking of buying or selling a property, surround yourself with professionals who truly accompany and advise you throughout the process. Generally, we save you money, time and a lot of problems.
And if you know someone thinking of buying or selling a home, send them this post. Sometimes, a simple document like the nota simple makes the difference between a good deal… and a big problem.