Guide to buying a villa in Mallorca

1. Guide To Buying A Villa In Mallorca A Unique Mallorca Real Estate SL

2. Buying a villa in Mallorca can be a better investment than buying an apartment. The recent market fluctuations have forced many villa owners to sell their properties urgently; as a result, some purchasers of villas were able to buy properties at very competitive prices. The rental potential of a villa in Mallorca is high compared to apartments, as they can be holiday rented island wide, and their value tends to rise even more. However, before purchasing a villa in Mallorca, it is always important to have a good understanding of the market. Buying a villa through a real estate agent could be an advantage since they are well informed on the market trends. The following guide should help you to find a villa that will suit your needs.

3. 1. Hire the services of a real estate agent with a good reputation • The option of hiring a real estate agent is preferred especially for buyers who do not speak Spanish fluently. The agents that are based in Mallorca have the best knowledge of the island as to where the best villas are located. Hiring an Estate agent will also adjust your pre-disposition and financial power to your needs.

4. 2. Perform a thorough evaluation of the villa before making a payment • You should know the real value of the property before deciding on the limits of what to pay. Study the state of the villa in the past years and try to foresee how it will be in a future short-term. Reputable real estate agents should be able to perform an estimated valuation of the villa's price. The area where the villa is located should also be evaluated regarding the price of the ground and the nearby properties.

5. 3. Familiarize yourself with the villa's expenses • Purchasing a villa doesn't just mean making payment to the owner of the property. You need to consider the expenses you will have once you move into the property. Consider performing a complete study to find an estimate of your monthly and annual expenses once you move into your new property. Good real estate agents will conduct the study and come up with close estimates.

6. 4. Make sure that everything is in order • There have been few cases in Mallorca whereby the properties being sold were built on the un-inhabitable land. It is crucial to confirm with the seller that the villa has a legality certificate to avoid future problems from arising. You should also verify whether the seller is recorded in the land register.

7. 5. Besides hiring a real estate agent to help you during the purchase process, the following legal persons should also be involved: • • Solicitor: the solicitor will confirm whether the information provided by the seller of the villa is correct. The solicitor will also attend the signing of the Deed of Sale at the notary's office. • • Tax advisor: tax rules in Spain differ from the rest of Europe. You should hire a consultant to guide you on tax payment. • • Notary: the notary is responsible for issuing the notary of the Deed of Sale. • • Lending institution: this is important when you purchase the villa with the help of a loan from the bank.

8. Contact Us Address: Carrerde Gran Via, 43, El Toro, Puerto Adriano 07180 Mallorca, SPAIN facebook.com/Unique.Mallorca.Property plus.google.com/+Uniquemallorcaproperty Phone: +34 971 699 329 pinterest.com/uniquemallorca1 Fax: +34 871 570 529 Email: info@uniquemallorca.com twitter.com/UniqueMallorca Website:www.uniquemallorca.com