Title: Guide to buying a villa in Mallorca
1Guide To Buying A Villa In Mallorca
- A Unique Mallorca Real Estate SL
2Buying a villa in Mallorca can be a better
investment than buying an apartment. The recent
market fluctuations have forced many villa owners
to sell their properties urgently as a result,
some purchasers of villas were able to buy
properties at very competitive prices. The rental
potential of a villa in Mallorca is high compared
to apartments, as they can be holiday rented
island wide, and their value tends to rise even
more. However, before purchasing a villa in
Mallorca, it is always important to have a good
understanding of the market. Buying a villa
through a real estate agent could be an advantage
since they are well informed on the market
trends. The following guide should help you to
find a villa that will suit your needs.
31. Hire the services of a real estate agent with
a good reputation
- The option of hiring a real estate agent is
preferred especially for buyers who do not speak
Spanish fluently. The agents that are based in
Mallorca have the best knowledge of the island as
to where the best villas are located. Hiring an
Estate agent will also adjust your
pre-disposition and financial power to your
needs.
42. Perform a thorough evaluation of the villa
before making a payment
- You should know the real value of the property
before deciding on the limits of what to pay.
Study the state of the villa in the past years
and try to foresee how it will be in a future
short-term. Reputable real estate agents should
be able to perform an estimated valuation of the
villa's price. The area where the villa is
located should also be evaluated regarding the
price of the ground and the nearby properties.
53. Familiarize yourself with the villa's expenses
- Purchasing a villa doesn't just mean making
payment to the owner of the property. You need to
consider the expenses you will have once you move
into the property. Consider performing a complete
study to find an estimate of your monthly and
annual expenses once you move into your new
property. Good real estate agents will conduct
the study and come up with close estimates.
64. Make sure that everything is in order
- There have been few cases in Mallorca whereby the
properties being sold were built on the
un-inhabitable land. It is crucial to confirm
with the seller that the villa has a legality
certificate to avoid future problems from
arising. You should also verify whether the
seller is recorded in the land register.
75. Besides hiring a real estate agent to help you
during the purchase process, the following legal
persons should also be involved
- Solicitor the solicitor will confirm whether
the information provided by the seller of the
villa is correct. The solicitor will also attend
the signing of the Deed of Sale at the notary's
office. - Tax advisor tax rules in Spain differ from the
rest of Europe. You should hire a consultant to
guide you on tax payment. - Notary the notary is responsible for issuing
the notary of the Deed of Sale. - Lending institution this is important when you
purchase the villa with the help of a loan from
the bank.
8Contact Us
Address Carrer de Gran Via, 43, El Toro,
Puerto Adriano 07180 Mallorca, SPAIN
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