How to buy in Mallorca

1. Have the ownership of your contractor demonstrated by presenting a "current" 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 /land tax  "Impuesto 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 you buy 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. Secure there are no problems (open bills) with the water and power supply, giving appealing settlements
10. When buying a plot, 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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23rd November 2019
In Mallorca, investors must not be worried for their ROI. Apartments, villas and…
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