In order to save you time, below you will find the answers to the questions that our clients more frequently ask. If you cannot find the answer you are looking for, you can contact us filling in the contact form with your question.
Is it important to take into account that both buyers and sellers are our clients. For this reason, we will always try to mediate between both sides and reach an agreement that benefits all parties.
In our case, as real estate agents specialised in this kind of transactions and being API (Association of Real Estate Agents of the Balearic Islands) members, we can offer you benefits and guarantees that a private landlord cannot offer. Thus, besides guiding you and giving you advice so that you can choose the house that better meets your needs, or helping you to get a fair price for your property, we can also offer you legal and financial advice.
Moreover, we can refer you to other professionals such as lawyers, accountants and notaries whom we trust and who can save you time and headaches (visits, phone calls, paperwork, etc.).
Ultimately, having a real estate agency you can rely on will not only bring you peace of mind, but it will ensure you that the process of buying or selling a house to be stress-free and without concerns.
The truth is that the answer to this question will depend on each case.
In Casal Mallorquí, we offer you both possibilities: to buy a house or to build one from scratch.
When it comes to buying a house, you can encounter 2 different situations: that the house you are interested in it has already been inhabited (second-hand house), or that it is a brand new house.
In the beginning, to get a brand new house is a more attractive option than a second-hand house-purchase. This is because, usually, buyers are reluctant to make renovations in order to adapt the house to their needs or rehabilitate some parts of the house.
Nevertheless, in some cases, rehabilitating a house could be more convenient. This is specially the case of houses that have been built in certain parts of Mallorca in which recently the number of square metres that you are allowed to build have been limited. In such cases, rehabilitating a house would allow to take advantage of the space that has been previously built.
This is also the case of those houses placed in a piece of land whose characteristics (views, location, and closeness to towns, cities or other points of interest) are almost impossible to find. The advantage of doing work(s) in the house is that, with the renovation, it will meet your needs perfectly, the value of the property will increase and your house will be located at the exact spot where you wanted it to be.
Besides, building a new house is the best choice if your needs or taste are very specific. In this case, finding an already build property that meets 100 % your personal preferences and your needs is difficult. Moreover, doing some work (so that the house meet exactly your requirements) could be more expensive than building a house from scratch.
In order to make the right choice it is essential to analyse a variety of factors factors such as the budget, the location, or the quality-price ratio, taking into account all the options available as well as the advantages and disadvantages of each one of them. In any case, we would recommend you to get professional advice from an expert in the real estate industry such as Casal Mallorquí, whose real estate agents can, based on your specific case, give you advise regarding which one is the best choice for you.
Buying a house is one of the most important choices that one can make in life and, therefore, it is not something that should be taken lightly.
Whether you are either looking for a house to live in or whether you see the purchase of it as an investment, one should be wise and take it easy.
First of all, it is of utter importance to determine which location would be the perfect one in which you would like to have a house, your budget and your needs as well as your wishes.
What do you need in your new house? What would you like it to have? There is a fundamental difference between both questions. The first one refers to all those things that you cannot live without. The second one has to do with all those things that, although you would them to be part of the house, they are not essential.
Thus, the first step consists of doing a market research in order to be aware of all the opportunities and possibilities that are at your disposal. Whenever doing a market research, counting on the professional advice of a real estate expert will give you access to a broader pool of available options and will provide you greater reassurance regarding the characteristics of the property. All in all, a real estate agent will make the buying process a safer one.
Given that it is an important investment, before buying a house in Mallorca, some crucial factors have to be taken into account:
First of all, a property certificate should be requested at the Property Register. This document will allow us to know:
-Whether the property has any kind of irregularity.
-Whether a lien or a mortgage is placed on the property.
-Whether the property has been rented out and, in this case, to know if it is possible to terminate the contract or if, contrarily, the tenant has the preferential right of acquisition.
And the most important thing is that, this certification tells us who the owner of the property is.
Secondly, it is necessary to check the legality of the building and that of all its parts. This entails to check that none of the parts of the property have been built illegally and that there are no irregularities. To check it out all the permits and licenses can be requested at the city hall. In addition, it is possible to check whether the property has electricity, water, energy supplies and the occupancy certificate.
Given that buying a property is usually a long process that can last several weeks or months, it is common that the third step to take is to sign a contract between the buyer and the seller as a guarantee that the sale will move forward. In this contact with purchase option (also known as deposit agreement), the buyer pays an amount of money, which has been agreed beforehand, to the seller. Usually this amount of money is around 10 % of the total value of the sale.
Once all the required documents have been checked and the option purchase option contract has been signed (in the case that such contract was made in first place), the final purchase agreement is drew up. The last steps will be signing the Public Deed of sale before a notary and registering the property at the Property Register.
The purchase of a property in Spain differs from the purchase of a property in other European countries. In Casal Mallorquí, we will assist you from the beginning to end so that you have greater peace of mind throughout the whole process.
The first thing you should know is that the expenses will be different depending on whether you wish to buy a brand new house or whether you prefer a second-hand one.
If we are talking about a newly built house, you have to pay to the seller/property developer 10% of the corresponding VAT. Moreover, you will have to pay the stamp duty/tax, which entails 1,5% of the sale price.
In the case of second-hand houses, you will have to pay the Spanish Tax on Capital Transfers. This tax may range between 8% and 11% of the sale price of the building and it has to be paid to the Tax Department of the corresponding Autonomous Community within 30 days of the signing of the public deed.
8% up to 400 000€
9% between 400 000,01€ and 600 000€
10% between 600 000,01€ and 1 000 000€
11% above 1 000 000€
Besides these costs, in any public deed transaction should be added the costs of the notary and the Property Register which may vary between 0,7% and 1,5% of the deed’s value.
But do not worry because, before visiting the notary, we will calculate for you all the costs.
When the option purchase agreement is signed, usually the buyer pays around 10% of the total value of the sale to the seller that serves as a deposit. Nevertheless, this amount of money can vary depending on what has been agreed beforehand.
Each agreement is unique, personalised and adapted to the buyer and seller’s requests, so this percentage can vary greatly from one agreement to another.
If, at any time, the buyer decides that he does not want to continue with the sale, he will have to return 100% of the amount of money received from the buyer. Moreover, in certain cases, the seller will have to compensate the buyer for any possible damage and inconvenience caused by the former’s change of mind (unless it has been agreed otherwise).
If at the end, it is the buyer who decides not to buy, he can always do so. However, in this case, the seller has the right to keep the totality of the amount paid as a deposit for the possible damage caused.
The amount of time that it can take ranges from one year to one year and half, depending on the total square meters built in your project.
It will also depend on whether you want to build a Passive House or a traditional one, since the timeframes of the former are shorter. Before the construction process takes place, a plan of action is created to fulfil it rigorously. Thus, from the very beginning, you will have an approximate idea of the deadline.
We can build your house as a Passive House certified by the Passivhaus Institute or, instead, follow the same Passivhaus’ standards of construction but without requesting the certification. However, Casal Mallorquí recommends you to have your house certified by the Passivehaus Institute since, if you would like to sell your property in the future, the certification would add much more value to your property.
In Casal Mallorquí, the cost of the Project Management service is obtained by applying a percentage calculated on the estimated cost of the construction. Logically, this percentage varies depending on the project’s complexity.
Before the construction work starts, an estimate of the costs is made and, depending on the estimate, a percentage is applied. The percentage is always agreed in the beginning and, if when the project has finished the estimate has increased, the cost of the Project Management service will not vary.
Yes, there will be time to sit down and discuss the possible changes you would like to make, as long as such changes do not alter the parameters of volume and surface.
If you decide to add or modify anything, we will request an additional estimate once we have received your written approval. This way, you will have updated information regarding the evolution of the construction process and its expenses at all times to avoid unpleasant surprises in this respect.
Of course. We will be happy to provide you references from clients with whom we have worked in the past.
In Casal Mallorquí, the person supervising your project will always be the same one. Our director and project manager, Mr. Martijn van der Kam. He will be in touch with you at all times. Our clients trust him as the contact who will walk with them throughout the entire process.
Throughout the construction process, the invoices of the contracted companies are issued monthly after having been checked by our technical architect, Mr. Mateu Fons. He is the person who will verify the work done and the quality of the materials used and will check that everything proceeds as agreed.
These fees usually range between 5% and 6%. In our case, we apply 5% (plus VAT) of the total value of the sale.
The payment to the real estate agency will be done at the moment of the purchase of the property before a notary, either through a bank cheque or through a bank transfer made before the day of the signing.
You must bear in mind that it will not be possible to carry out the real estate transaction if at the time of signing before the notary, the amount of money regarding the fees has not been paid yet.
In Casal Mallorquí, we adapt ourselves to the client’s needs so both options are possible: exclusive listing and Non-exclusive listing.
However, we always recommend to only count on one real estate agent in order to avoid disparities between the different real estate agencies and their social medial platforms regarding the price of the property.
Our real estate agents not only will inform you periodically about the updates on your property but, in addition, they will also share the information of your property with other reliable agents and real estate agencies with whom we often collaborate.
It is a mistake to believe that listing your property with a myriad of real estate agencies will increase the chances of selling it. In fact, the opposite is often true. When a property is listed in many sites it is difficult to control the information and make sure that it is correct and updated.
When a potential client finds a property listed by different real estate agencies in which there are different prices and descriptions, it could generate mistrust making the client to lose interest.
We certainly believe that the less people during the showing, the better.
This will allow creating an atmosphere in which the potential buyer feels comfortable and act with complete freedom. Ideally, only the potential buyer and the agent should be present.
As real estate agents, before the meeting up with the potential buyer, we make sure to have all the necessary information to carry out the showing of your property without the need of you being present.
Moreover, we will highlight the benefits and strengths of your property, helping the interested client imagining himself living in the house and, therefore, increasing the chances of a possible sale.
Without the owner’s presence, the potential buyer feels freer to comment on all those things that he considers important regarding the property without any external pressure. This is something positive that predisposes him towards the property purchase.
If you could not find the answer to your questions here, please be so kind to fill in the contact form with your question and a member of our team will answer you as soon as possible.
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