REAL ESTATE PURCHASE INFORMATION MALLORCA

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REAL ESTATE PURCHASE INFORMATION MALLORCA

1. have the ownership of your contractor demonstrated by presenting a “current” land register entry.

2. check whether the seller alone has the right of disposal, or requires the consent of another person. If the seller is not the sole owner, the power of attorney must be checked

3. is the property free from encumbrances?

4. does a lease or rental contract exist

5. are all taxes paid (in particular the payment documents for the property tax “Impusto bienes inmuebles” of the last five years should be examined?

6. Are there any deposit arrears (if the property is an apartment) requesting evidence from the community of owners

7. if buy a land with a house, you should pay attention to whether this is also registered in the land register

8. have the habitability certificate “Cidula de habitat” submitted

9. so that there are no problems with the water and power supply giving appealing settlements

10. when buying a plots, it is important to ensure that the land is “Urbano” and the minimum size for the development is met

11. find out about the associated additional costs (notary, land registry, lawyer). In connection, it should be remembered that sellers often pass the value added tax “Plusvalia” on to the buyer

12. If the seller is not a resident in Spain, a withholding tax “Retencion” in the amount of 3% must be considered/checked

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