Portals Nous Property
Situated to the west of Palma, and only a short distance from Puerto Portals glitzy marina, Portals Nous is a relaxed cosmopolitan village. The high street has a fine selection of shops and a variety of restaurants. Portals Nous has access to the small bay of Cala Bendinat and the larger Platja de S’Oratori, which is connected to the port, where the marina is filled with fabulous yachts and lined with fine dining restaurants.
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.
Fabulous, south facing apartment within an exclusive complex with excellent facilities including communal pool and tennis court, in the desirable area of Portals Nous. This 2 bedroom property...
- Floor Size: 75 square metres
- Bedrooms: 2
Enjoying wonderful sea views from its location near the beach and all amenities in Portals Nous, is this bright and well presented one bedroom studio. This charming property is situated in the ...
- Floor Size: 32 square metres
- Bedrooms: 1
Bright and spacious 3 bedroom apartment ideally located near the beach and all amenities in Puerto Portals. This attractive apartment is situated on the third floor of a well maintained buildin...
- Floor Size: 170 square metres
- Bedrooms: 3
Exceptional 6 bedroom newly built luxurious villa with expansive pool, gym and glorious landscaped garden, enjoying panoramic sea views from its prestigious locations in Portals Nous. This stun...
- Floor Size: 700 square metres
- Plot Size: 1,400 square metres (0.14 hectares / 0.35 acres)
- Bedrooms: 6
This lovely apartment in Puerto Portals with 100m2 of living space andpartial sea views. Located only a few minutes from the marina of Puerto Portals. The location is perfect for a main residen...
- Floor Size: 100 square metres
- Bedrooms: 3