Find Your Dream Home in Mallorca

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by: Toby Trumble
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Word Count: 550
Date: Sun, 27 Feb 2011 Time: 7:04 PM
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Locating property for sale in Mallorca may be the easiest part of the process. There are many lovely places to live and vacation, and a wide range of price points. Are you interested in the capital and cultural centre of Palma de Mallorca; the beautiful foothills village of Bunyola; the medieval town of Capdepera with its fortress and views over Mallorca's eastern coast; or do you want to be near the endless beaches of Cala Millor? What's your dream?

Once you've chosen your ideal location, you can enjoy researching properties, perhaps first via the Internet and then in person. Does an apartment suit your needs, or would you prefer a town house or detached house? What about a view or a garden? There are many real estate websites where you can begin your search, though when choosing a local real estate agent, take some care. Look for a well-established agency, one well-known as having an excellent reputation. A personal recommendation is truly helpful, but don't rule out your own judgment. Talk to different agents about their specialties and consider whether they match with the type of property you want to buy. If you find that someone you've selected doesn't actually meet your needs, consider choosing someone else.

Fulfilling your dream by finding the perfect Mallorcan home is understandably what you want most. In all the dreaming, however, don't let the reality of buying property in Spain turn your search into a nightmare. Once you've found a home you're interested in, it's time to look at the facts. Foreign nationals are not restricted from buying property in Spain, but there are certain laws and procedures that must be followed. To ensure that the details are taken care of, and to help protect your investment, you may want to hire a local lawyer to oversee the entire purchase process.

Buyers in Spain have responsibilities that may not be common in other countries. For instance, it's the buyer's responsibility to make sure there is clear title to the property, including whether the person selling has the rights to sell and whether any others are involved. Additionally, the buyer must determine whether there is only a single mortgage, or possibly another mortgage or other lien attached. You'll want to know all the pertinent information before signing a preliminary contract with your offer, especially since a down payment of 10 percent is customary with the signing. The down payment is non-refundable if the buyer does not complete the purchase, so clearing title and knowing all the details about the property beforehand is important. There are also various taxes and fees to consider; the need for an NIE number, which is an identification number foreign nationals must use in business transactions; and you'll need to establish a local bank account for payment of bills. Considering all the details involved and the distance you may need to travel to carry out the purchase, hiring a lawyer can prevent or solve many problems. When choosing a lawyer, thorough research and personal recommendations are again key.

Once all the nitty-gritty is taken care of and your purchase is made, however, then it's time to actually live the dream in Mallorca.

About the Author

For more information on property for sale in Mallorca check out Balearic Estates. Balearic Estates also have properties from the surrounding Islands avaliable including; Menorca, Formentera and Ibiza. For more information check out www.balearic-estates.com