If you read this is because you are considering investing in a property in Palma de Mallorca or somewhere else on Majorca’s island.
As a Real Estate Lawyer I would like to be part of you adventure helping you to make this process as simple as possible.
To make it easy: Four points must be covered
- 1.- Be sure the vendor owns 100% the property. So, any third party rights, mortgages, or other charges must be eliminated prior to granting the deed of sale. See the RULES of buying a property in Mallorca
- 2.- Check the property it’s 100% legal. YES, Mallorca is full of properties that are partially illegal… and the authorities are working hard to bring them down.
- 3.- Be sure not only the purchase deed, also the Option Contract or the Reserve contract protects you.
- 4.- Know tax implications of buying a property here.