Our
tips
Do you wish to buy a property in Mallorca?
Here are some of the tips offered by Cala Gaviota, so that your purchase may be quick and smooth:
Cala Gaviota S.L. collaborates with several law firms so they may take care of the legal aspects in the purchase process, offering a professional and comprehensive service adapted to your case and needs.
– Issues such as:
– How to request a N.I.E. without being a resident
– Is a piece of land buildable and what is its buildability?
– What is the registration status of the property?
– Is there a charge on the property?
– Is the property legal? Is there a way to legalize it?
Once you have resolved all your doubts, you must take into account the taxes and fees during and after the purchase of your property, such as:
– Patrimonial Transfer Tax (ITP) * Second hand housing.
– Tax on Documented Legal Acts (AJD) * Newly built housing.
– Value Added Tax (VAT) * 10% (AJD) – 21% (TPO) – Notary fees.
– Property registration expenses for the registration of the deed.
– Mortgage expenses in case of applying for a mortgage.
But don’t worry, the total expenses in second-hand homes are around 10% on the sale price and in newly built homes they can be over 12%.
– Once the price and conditions of sale have been agreed, the corresponding documentation will be signed, which could be:
– Earnest money contract.
– Purchase option contract. – Sales contract.
* Depending on the type of operation and the agreement reached by the buying and selling parties.
The notary is a figure that must be chosen by the buyer and will be responsible for drafting the corresponding public deed of sale.
The notary should advise him impartially, always supporting over the weaker part, typically the buyer.
We advise you not to sign anything that you do not understand or that you are not fully sure of, because once the documentation is signed, you cannot turn back. If you have any questions, always ask the notary.
