Application of Prevention of Money Laundering and Financing of Terrorism Law in Salsa Inmobiliaria

The main premise at Salsa Inmobiliaria is to work for the satisfaction of our clients and the quality of our promotions. But it is also essential to comply with the law for all purposes, both as an obligation and duty to comply with it and for the peace of mind of our clients and ourselves.

That is why in the purchase -sale transaction at Salsa Inmobiliaria we always ensure that the funds assigned for the dwelling come from a legal source that prevents money laundering and the financing of terrorism.

We work with an expert company that rigorously analyzes each file and the origin of all the money deposits that are made from the reservation to obtaining the mortgage.

The funds to purchase a home can be obtained in different ways: through an inheritance, personal savings, sale of another property, prizes won in the lottery… and if any of these funds are used to purchase a home, it will be necessary to present different documents depending on the origin of the funds to justify that the money being spent on the purchase is legal. For example: in the case of receiving an inheritance, the deed of acceptance of said inheritance must be provided; If they are savings from professional activity, the income tax return will be submitted, as well as the labor report; In the case of funds from the sale of another home, the deed of sale of the property will have to be provided… etc.

Another way that can be used to pay for a home is through a loan between individuals: in this case, the buyer must provide tax form mod. 600 that justifies that the money received from an individual and used for the purchase of a home has gone through Treasury Department and its origin is legal.

Nowadays it is very common for the client not to personally contribute all the funds for the value of the home and to have to request bank financing. In this case, before handing over the keys we ask the client to provide us with the FEIN (European Standardized Information Sheet). It is a mandatory document that the bank must deliver to the person who wants to take out a mortgage where all the information regarding its conditions is collected and that the client has all the information necessary to make a decision before signing. The banking entity that issues this document has the obligation to maintain the conditions of the mortgage if the client decides to contract it with the entity.

Once the loan has been obtained, the buyer or buyers must provide a certificate of bank ownership proving that those who are going to buy the home are the same ones who are going to pay for it.

On behalf of Salsa Inmobiliaria and from the moment the deposit or reservation contract for the home is signed, the client is informed of our money laundering prevention policy and at each milestone of the operation the relevant documents are requested. All documentation is sent to our auditors so that they can evaluate and clear the operation. Throughout the process, the origin of the payments is checked and it is verified that they come from the current bank account of the loan holders.

It is very important to highlight that all the information provided by our clients to justify the origin of the financial contributions for the acquisition of the home is used exclusively for compliance with the Prevention of Money Laundering and Financing of Terrorism Law. All this information is protected and Salsa Inmobiliaria will not give it any other use other than that intended for that purpose.

At Salsa Inmobiliaria we have always advocated total transparency and clarity in all the operations we carry out, which is why we are very strict with compliance with the law and business ethics and with respect to our clients and suppliers.

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