Buying property on Mallorca, step by step

Buying on Mallorca follows a clear sequence. Here is how it usually works, from the first viewing to the keys. We accompany you through every step, in English, German or Spanish.

1. 01

   Search and viewings

   We put together suitable properties for you, including off-market ones, and organise the viewings, several on one day if you wish.

2. 02

   NIE number

   Every buyer needs a Spanish tax identification number for foreigners (NIE): for the purchase contract, the bank and the notary. It is applied for in Spain or at a Spanish consulate, or by your lawyer with a power of attorney. It usually takes a few days to a few weeks.

3. 03

   Spanish bank account

   The purchase price, taxes and later the running costs (electricity, water, property tax IBI, community fees) are paid through a Spanish account.

4. 04

   An independent lawyer

   Your own lawyer checks the land registry extract (nota simple), charges and mortgages, building permits and the certificate of occupancy, outstanding taxes and community fees and, for holiday rentals, the licence (ETV). We always recommend a lawyer who acts only for the buyer.

5. 05

   Reservation

   With a reservation agreement and a reservation deposit the property is taken off the market for an agreed period. During this time your lawyer completes the checks.

6. 06

   Private purchase contract (arras)

   The private contract usually comes with a deposit of about 10% of the price. With "arras penitenciales" the buyer loses the deposit if he withdraws; if the seller withdraws, he pays back double.

7. 07

   Financing

   If you need a mortgage: the bank values the property (tasación) and confirms the loan before the notary appointment. The calculator in every exposé shows what to expect, and we pass on your financing request on request.

8. 08

   Notary

   The public deed of sale (escritura) is signed before a notary, the remaining price is paid by bank cheque or transfer and you receive the keys. If you do not speak Spanish, an interpreter or a power of attorney helps. If the seller is not resident in Spain, the buyer retains 3% of the price and pays it to the tax office (form 211).

9. 09

   Taxes and land registry

   For resale properties transfer tax (ITP) is due, for new builds VAT (IVA) and stamp duty (AJD), plus notary and registry fees. The purchase is entered in the land registry (Registro de la Propiedad). Finally electricity, water and insurance are transferred to your name. The calculator in every exposé shows the purchase costs.

From reservation to notary it usually takes one to three months.

After the purchase: our network on the island

On request we put you in touch with people we know and trust:

• Lawyers and notaries
• Tax advisers
• Banks and financing
• Architects and renovation
• Property management and rentals
• Paperwork: NIE, bank, utilities

This overview is general guidance and does not replace legal or tax advice.