Majorca

Considering Buying Property in Majorca?

Buying a property in Majorca can be a pleasant and rewarding experience if you first acquaint yourself with the rules pertaining property in Majorca, Spain.  Try to get references from other property owners of good real estate agents in the Majorca area. It is more desirable to buy from a local agent instead of an agent located outside of the island or country of Spain. You will want an agent who is knowledgeable about buying properties in the Majorca area. A local property agent will also have easier access to available properties. If you are interested in property in Majorca, you will want to actually see the property first before making an offer. Buyers anxious to purchase property in Majorca often make the mistake of rushing into a deal before understanding all of the factors involved. Your Majorca real estate agent should be able to provide you with the following information before agreeing to buy any property in Majorca:

1. What are the property taxes on the Majorca home?
2. What taxes are your required to pay on the initial purchase of the Majorca property?
3. Has the owner made the required payments for the property taxes to date?
4. Verify the name of the actual owner if they are not present when viewing the property.

Buying Property in Majorca Tips

In Majorca a comprador is the person who is buying the property. Once you have found the property you wish to buy, you will need the help of an English speaking abogado (lawyer). Be sure to select an abogado who is knowledgeable in the necessary requirements to buy a property in Majorca. The lawyer will verify that the Majorca property you want to buy is free from all debts and that the property actually belongs to the seller. The Majorca property you are buying must also have all the necessary building permits. Only after all of this information has been checked, should you sign a contract to buy a property in Majorca.

Just as in buying any type of property, there are some facts to consider.

1. Does the Majorca property you wish to buy fit your needs and lifestyle?
2. Does buying property in Majorca fit into your budget?
3. Will you be able to move in immediately or will you be renting out the property until you can relocate?
4. If you run your own business, will you be able to provide the same type of service/goods after moving into the property you have bought?

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