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We at Buy a Home have a long experience in the Mallorca real estate market and our wide network extends from lawyers and tax advisers to banks and construction companies, handymen, architects, interior designers and property management. For us the purchase of a property is so much more than a transaction: it’s to fulfil a dream and be a part of a quest, and helping to create a home.
To buy a property in Spain can be substantially different from buying property in other countries, and many questions may arise. We are with you in every step along the way until you have the keys in your hand, and even longer if you need us to.
We value good and long-lasting relationships, and with a well-planned out and effective way of working, our goal is to guide you through the whole buying process with security and pleasure. You are in good hands, both on a professional and personal level!
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To be able to own a property in Spain you need an NIE-number, Número de Identidad de Extranjero, which is a Spanish identification number for foreigners. You can get the number either at the Spanish embassy in your home country or in a Extranjeria in Spain.
It is also important that you have an idea about the size of the investment you can make. It is best, of course, if you have already discussed this with your bank. When you find the property that you are looking for, things usually move quite fast, and it’s good to have everything ready and in order, to ensure a smooth transaction.
Tell us what you are looking for and we will find it. We have access to more or less all the properties on the market, and also those that are not on the market yet. We also work as property finders, which mean that we actively look for properties that fit the description of what you are looking for, and regularly send you suggestions about properties that match your preferences.
When we have found one or several properties that you are interested in, we will book viewings. All our viewings are individual, which means that you have plenty of time for all your questions.
When you have found the property that you were looking for, the first step is to agree on the price. In Spain it is not that common with a bidding war, instead a deal is made when the buyer and seller come to an agreement over the price, with the help of the estate agent. Usually the property is sold at the initial price, but it’s not uncommon to agree on a lower price.
When you and the seller have agreed, the buying process usually starts with the signing of a private agreement. In this agreement all the information of the property is specified – price, when it will be available and an inventory if the property is sold furnished.
At the same time you will also pay a deposit, which is usually 10% of the total price. The deposit should normally be paid within a few days. It is the guarantee for the purchase, and we will mark the property as reserved on our website. We strongly recommend that you hire a lawyer, who will check that everything is correct before the agreement is signed.
After the agreement is signed, you usually have about 1-2 months left until the day when the property will be available and when you will pay the remainder of the agreed price. But this is of course something that the buyer and seller will agree on.
Even if you can get access to the property immediately, the buying process and the preparations usually take a few weeks. In some cases the process can be shorter, from anything to a week and upwards. When the process is quicker than normal, sometimes a reservation fee is paid in advance, while the first agreement is prepared. It’s important to mention that this is not a binding contract; it’s more like a kind of moral commitment between the parties.
Before you get access to the property, the lawyer will prepare the title deed, escritura de compraventa, that should be signed by you and the seller. This will be done in the presence of a Spanish public notary, and at the same time you will also pay the remainder of the agreed price and the keys to the property are handed over.
After that, the title deed is sent to the local land register to register you as the new owner. This process takes a couple of months.
You are now the happy owner of your own Mallorca home!
If you are thinking of buying a property
Choose a realtor that makes you feel safe and comfortable. Many questions will arise along the way, and it means a lot to have someone with knowledge, experience, numerous contacts and local knowledge to help you – something that our clients often point out. Buying a property is an important purchase, and it can feel comforting to be able to ask questions in your own language.
Create a picture of what you want. Are you looking for something big or small, with a sea view or city feel, do you want to be close to the beach or the centre? The possibilities are endless! Show us what you are looking for, no matter if it’s one specific property or a certain type of property, and we will do everything to find it. Based on your criteria and wishes, we can also keep our eyes open for new objects that could suit you, before they become available on the market. That way, you will get a chance to see the best properties before anyone else.
Spend time visiting the area you are interested in. Even if a lot of research can be done in front of the computer, it can’t compare with experiencing the atmosphere in person and creating your own opinion. Does it have all the amenities you need? What do the surroundings look like? Even if you have to spend some money visiting it a few more times, it’s a good investment for a successful purchase. A fantastic apartment in an area that you don’t like, won’t feel right in the long run.
When you find the property you are looking for, everything usually happens quite fast. It’s best if you have already talked to your bank and know approximately how much you can spend.
Keep an open mind and let us guide you. Let us share our knowledge and dare to be curious and explore new alternatives, if you are not sure about what is right for you.
In our FAQs you can read the answers to the most frequently asked questions when it comes to buying a property in Mallorca!