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INFORMATION FOR THE BUYER

We find your dream home in Mallorca

You do not know where to start? Luxury means having time to spare and being able to enjoy it, so tell us your criteria and we will search and find for you your next dream home. Our long knowledge, contacts and experience in the luxury real estate market on Mallorca is your advantage.

MEDIATION We guarantee a professional and personal service based on years of experience, excellent knowledge of the regional property market and best contacts.

CONSULTING We will explain the market situation and advise you on all issues that may arise.

SETTLEMENT We assist you on every step through the sales process and oversee the proper closing of your transaction.

Enjoy life and we do the rest…!

PURCHASE PROCEDURE

Once you have found the ideal property the procedure will be as follows:

1) The Property will be checked in the Register, i.e. if there are any mortgages, etc.

2) An option contract will be made with a 10% down payment to assure you the right on this property.

3) It would be necessary that you open a local bank account to transfer the money and for the payment of fix costs in the future.

4) To sign the public deed we cooperate with different notaries who speak your language or offer an official translation.

5) In the moment of signing the public deed, the notary will check again the Property Register and guarantee your inscription.

6) The notary fees including the Property Register will be between 1 - 2% of the declared amount.

7) The purchase of a property is always subject to either VAT (I.V.A. - Value Added Tax) or I.T.P ( Land Acquisition Tax, for all sales, which are not subject to IVA)

– VAT is normally applicable for a sale through a company.
– 21% IVA of the sales price applies, when the sale refers to a constructible piece of land
– 10% IVA for new private properties plus 1,2% stamp duty tax
– Resales are not subject to IVA, but to the ITP (8%-11%)

8) If you need a lawyer to represent you we could recommend you several ones.

9) After purchasing the property, we can advise you and put you in contact with experienced and recommended partners such as: architects, builders, decorators, tax advisors, care takers etc.

 

 

Energy certificate

Do you want to know more about Energy Certificate, click here.

by weinmo