It is important to know if you are really going the correct path whenever you see apartments for sale Mallorca cheap.
If you don’t have any idea on how to purchase a property, reading several guides would surely help you in securing your dream property. Also, keep in mind you still would need a legal and expert advice from a qualified professional.
Negotiation and Property Viewing
You should first view the property in your location that you have chosen. The estate agent you hired would negotiate the proposal once you have seen the property and decided to purchase it.
Since there is no local authority search in this place, be ready to continue the transaction more rapidly. The lawyer you hire should perform all the searches.
New Build and Resale Property
If the property you are going to purchase is a resale property, then the lawyer would examine and verify the sale contract or make a new one. The lawyer would then check if the property really belongs to the vendor, ensure that the property is fully free from debt, examine the property if it has proper building permissions, confirm and obtain the price stated on the deeds.
Once all of the aforementioned processes are done, the option contract that states your purpose to buy would be signed and 10 percent of the property cost would be released from the funds you have. Both you and the vendor are now committed to the sale.
To complete the sale, the notary would officially complete every residential property sale. The lawyer you hired would set the date of Notary that should be attended by:
You (if you can’t attend, you could give the power to your lawyer), the Notary, the vendor, and a public official with the duty to see if the transaction is legal.