Before making a decision, you have to think carefully about everything involved in buying a property in Spain. Here is some advice which will help you and ensure that you make the right choice at the correct price:
Do your homework and prepare everything carefully before you travel to your destination point!
- Before you start your search, think about how much you want to spend on your new house. You should bear in mind that purchase fees will normally be in the region of 8 to 12% of the final price you pay.
- Think carefully about what type of property you are looking for; prices can vary enormously depending on locality. You will probably be able to find cheaper properties further away from the coast. Get your priorities established before you decide what type of property will best match your necessities.
Get an idea of the property market in Mallorca
- Get in touch with at least 2 or 3 different agencies to get a good idea of the property market situation on initiating your search.
- Do not let yourself be pressurized into making hasty decisions by sales agents and try to put your priorities first.
We have found the perfect property in Mallorca. Now what?
- Once you have decided to buy a property which ticks all the right boxes for you, the sales agent will ask you to sign a contract to reserve the property and you will have to pay the deposit required for that particular property. You should also get in touch with a lawyer before you sign any document or pay the deposit.
- It is very likely that the sales agent will recommend a lawyer who works with the agency although it would be more adviseable for you to work with your own lawyer to check all documents before signing or paying the deposit.
- When you reach this particular stage of the procedure, you should provide all information and the necessary instructions to your legal advisor in the event of you being away on a trip so that any unexpected complications can be resolved in your name.
All you need to know about banks when you buy a house in Mallorca
- If you need to finance your property purchase, take your time to consider all the options and expenses involved in the process and make sure that you look into obtaining the best possible conditions on a loan if you need one.
RE/MAX Calm can be your best option for buying a house in Mallorca
RE/MAX Calm offers you the best possible advice during the entire process, from when you begin your search until you actually buy the property. We have an extensive catalogue of properties for sale in Mallorca and if you aren’t sure yet whether you want to live in Mallorca, we will explain in this blog article why you will be unable to resist buying a property here.
