Are you dreaming of acquire a real estate in Majorca, especially a property in Mallorca Southwest, and you are a non-resident, here is a small manual from Mallorca Luxury Estate for you about the most important steps.



The selection of the property

It is highly recommended to get a professional support. A specialized estate agent will save you a lot of valuable time (and also money) with his information, he will present you a selection of suitable properties, arrange the viewings, and also give you details and insider know how e.g. about the closer environment and the local conditions. The specialists of Mallorca Luxury Estate are trained in the best way and always up to date, so you will always feel in safe and competent hands on the way to the dream apartment or house. The wide range of properties, offered by Mallorca Luxury Estate, fulfills also highest requirements, from the cozy apartment up to the impressive and representative villa; there is the right property for each person.

You have found your ideal property

Once you have founded your dream property, we always the services of a good lawyer for doing the property transaction in a good and safe way. Mallorca Luxury Estate can recommend you an adept lawyer, who accomplishes the completion correctly for you and informs and supports you in each aspect, so that possible difficulties are impossible from the start of the process. Before each conclusion of a contract always an exact examination of the necessary documents, as e.g. the owning documents, information about the land register, tax assessments and possible charges such as mortgages and taxes, is accomplished by the lawyer. As you also will need a Spanish tax number (the so-called NIE number), he will request this for you. The lawyer is in the best way familiar with the Spanish real estate laws and contract rights (naturally all contracts in Spain are closed in Spanish) and you will experience no bad surprises with the execution and rewriting of the real estate.

The process normally is as follows:

When the seller and the buyer came to an agreement, an option contract is signed, whereby the seller is obligated, to reserve the property and not sell the object to a third party up to the expiration of the agreed reservation period. This option contract is binding for both parties and can only be resolved by a court order. As reservation fee 10% of the purchase price usually is paid by the buyer to the seller. Within a determined period usually 2-3 months a notary appointment is set. If this period for any reasons is exceeded, a further pre-payment of 20% normally is transacted. On the day of the notary appointment the parties (and/or their lawyers) meet to sign the sales contract before the notary. The notary reads out the contract, asks for agreement of the parties, and examines again the documents and the purchase price. If everything is correct, the signature can be done, therefore it is highly important to prepare in the apron everything in every detail. By signing the purchase contract the object changes into your property and the seller will hand over the keys. Your attorney will inform you exactly, which documents are necessary for signing the contract and how the payment must be regulated. If the contract before the notary is signed, you are the new owner of the object.