Simple Guide to Buying Property in Mallorca

Following our step by step guide will help you make sure there are no nasty surprises on the way to buying your residential property in Mallorca. Please remember that this is no substitute for professional or legal advice from a qualified expert.

Step 1 ? Property Viewing and Negotiation

Once you?ve seen the property you want, in the right location, your real estate agency will negotiate your offer. The transaction will usually happen more quickly than in other countries because there?s no local authority search in Mallorca. Your lawyer will conduct all the searches.

Step 2 ? Resale and New Build Property

Resale property

Your lawyer will check and approve the contract of sale or prepare a new one. He or she will then: Check the property actually belongs to the seller Make sure the property is completely free from debt Check the property has the correct building permissions Give you a current estimate of the taxes you can expect to pay on the purchase Acquire and confirm the stated price on the deeds.

New build property

Your lawyer makes all necessary checks on the land and carries out a background and financial check on the constructor.

Step 3 - Signing

When your lawyer is happy, the option contract stating your intention to purchase will be signed and 10% of the purchase price will be released from your funds.

You are now committed to the purchase.

Step 4 ? Completion

A Notary completes all residential property sales. Your lawyer will set a Notary date which must be attended by: You ? but you can give Power of Attorney if you need to and most people select their lawyer The seller The Notary, the public official who makes sure the final legal transaction is carried out.

Step 5 ? The Public Record

The Notary puts it on public record that the title deed recording the sale/purchase has been signed in their presence and understood by both parties.

Step 6 ? the deeds

You will be given a copy of the title deeds, the original will be sent to the appropriate land registry by your lawyer and registration will be completed.

A Guide to Costs and Fees

Although the following is meant as a guide only, it?s an accurate summary of the costs you will need to pay.


We would recommend you allow 10% of the purchase price to cover all taxes ? 12% if you need a mortgage.

Finance your property

If you require a mortgage for a purchase in Mallorca, and you?re a non-resident you?re normally allowed to borrow 75% of the purchase price or valuation, whichever is greater. A resident of Mallorca can borrow 80%.