Purchase Information
The process of buying a property in Puerto Pollensa is quite different from that in the uk and it is important to understand a few of the main considerations.

Once you have selected a property and you have made a sucessful offer, a purchase option contract will be drawn up detailing the property, the names of the buyers and sellers, the agreed price, the deposit and the date on or before which the contract must be completed. At the time this agreement is signed the deposit will be paid. The contract is legally binding on both parties. It is sensible at this time to employ the services of an independent solicitor (Abogado). We will be pleased to help this process if required.

It is essential to ensure that the property purchase is transacted in the correct manner. A key function of your solicitor is to make sure that the property is free from any debts, charges or encumbrances before you make your purchase, and to ensure that the actual purchase details are as you understand them to be..

Bank Accounts
You will need to set up a local bank account to ensure that all bills can be paid locally. A process similar to a direct debit system exists in Spain and most of the ongoing bills will be paid in this manner. If you do not have one, we can arrange this for you.

Purchasing Costs
There are costs that you need to be made aware of, which you will incur during the process of purchasing a property in Mallorca. You must budget for these costs.

Solicitors fees will be around 1% of the purchase price
A tax of 7% is payable to the state on completion
Notary, registration filing fees and other miscellaneous expenses can amount to approximately 2%

So it is sensible to budget for 10% of the purchase price to pay these fees.

As part of your buying process we are happy to provide a range of advice and support to you throughout the purchasing process.

Our goal is to make it trouble free for you to purchase a property in the Pollensa Area and as pleasurable as possible.