Alcudia is a beautiful beach town in the north of Mallorca, combining both modern and traditional architecture, it has an energetic night life. The town is famous for it’s ‘photo opportunity’, the wooden pier leading out to sea.
Guide to the Spanish Buying Process
1. Putting down a Holding Deposit
On finding a property you wish to purchase you will need to negotiate the terms, price and conditions of the sale with the owner. This part of the process is not binding. We would recommend using an independent English speaking legal advisor. Once a purchase price has been agreed, normally a holding or reserve deposit will be required to ensure the property is removed from the market. The sum required will vary between properties and will be based on the purchase price. A time limit for the preagreement to be signed will be arranged and there will also be legal checks to be made.
2. Setting up a Pre-agreement (Contrato privado de compraventa)
The pre-agreement will set out the conditions under which the Buyer and Seller agree to complete the purchase of the property and the price they have agreed upon. Relevant details will generally be included for example the property details, purchase price and the date for completion. A deposit will be required at this point, this will vary, but will generally be 10% of the agreed price. This agreement will include a penal clause if the sale does not go through. If the seller pulls out of the sale your compensation will be double the deposit you have paid, but if you decide not to go through with the sale then your deposit will be lost. Certain checks will need to be made before signing the contract, checks should be made against the title of the property, mortgage status and if the property has any debts held against it. The planning status should also be looked into. These conditions can be varied by the seller and the buyer and other types of agreement can be made.
3. The Contract (Escritura de compraventa)
Before a non-Spanish purchaser can buy a Spanish property they will need to have set up a Spanish bank account and obtained a Spanish tax number (NIE). The completion will take place in the presence of a Notary Public. This is a Spanish public official, by law the deed of sale must be witnessed by a Notary Public. You will also need your own independent, expert legal advisor to act on your behalf. On Completion the buyer must pay the balance, that is the price agreed after the deposit has been deducted, plus any other fees on the completion date. Both buyer and seller must sign the Escritura de compraventa contract, (this is the Spanish equivalent of the title deeds). The title deeds (escritura) will be given to the buyer, this will be done in the presence of a Notary Public, they will certify that the transfer has taken place. The tax office will be sent a copy and the property registry will be informed of the transfer.
IMPORTANT - Disclaimer :
All information provided is believed to be current and provided free of charge. No liability can be accepted for the reliability of the information and statements made as this is obtained from 3rd parties. We always recommend you take legal advice from a fully qualified Lawyer or Notary before buying a property overseas.
This is a project with planning permission for a fabulous 5 bedroom villa and pool with sea view in Mal Pas. In the most sought after location in the North of the Island, planning permission ha...
- Floor Size: 280 square metres
- Plot Size: 1,137 square metres (0.11 hectares / 0.28 acres)
- Bedrooms: 5
This contemporary country house is located in the heart of the island, close to Alcudia and with a partial view of the bay of Pollensa. Close to the two beautiful bays of Pollensa and Alcudia,...
- Floor Size: 300 square metres
- Plot Size: 20,788 square metres (2.08 hectares / 5.14 acres)
- Bedrooms: 5
In Bon Aire close to Alcudia, this superb villa which has had a total restoration and is presented in immaculate order comes with a lift and great sea views. The luxury high specification vill...
- Floor Size: 750 square metres
- Plot Size: 1,800 square metres (0.18 hectares / 0.44 acres)
- Bedrooms: 6
This stunning and luxurious villa in Bon Aire comes with impressive sea views across the Bay of Pollenca and a wonderful swimming pool. Standing in one of the very best locations on the island...
- Floor Size: 375 square metres
- Plot Size: 560 square metres (0.06 hectares / 0.14 acres)
- Bedrooms: 8
Great opportunity to acquire a fabulous modern villa with sea views, together with 2 adjacent plots, located just 20m from the lovely beach. The plot on which the house is constructed is aroun...
- Floor Size: 264 square metres
- Plot Size: 1,193 square metres (0.12 hectares / 0.29 acres)
- Bedrooms: 4
PRICE REDUCED - Located on the stunning Alcudia peninsula about 2 kilometres north east of Alcudia itself, this waterfront villa is in Mal Pas Bonaire is within a few seconds walk to the beach, Platja...
- Floor Size: 495 square metres
- Plot Size: 3,659 square metres (0.37 hectares / 0.90 acres)
- Bedrooms: 6
This luxury villa with indoor swimming pool sits in a dominant position and therefore comes with breathtaking views of the Bay of Pollensa, the surrounding valleys and the Tramuntana mountain range. <...
- Floor Size: 970 square metres
- Plot Size: 23,000 square metres (2.30 hectares / 5.68 acres)
- Bedrooms: 5