06
Nov 2017
When buying a property in Mallorca.
When buying a property in Mallorca. You need to be aware of the legal issues when buying a property in Mallorca. Consideration when buy a property in Mallorca, our advice is to get a lawyer who can help you through the process. As a first-time property buyer in Mallorca, how different the legal process is in Mallorca compared to your home country. Offer; An ‘option contract’ is the first step and usually requires you to pay 10% of the purchase price in advance and commits both buyer and vendor to the sale. If the buyer does not go through with the sale the deposit may be non-refundable. If the vendor pulls out they usually have to refund the deposit plus another 10% of the purch...Read more