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The actual cost of investing in a property in Mallorca Spain needs careful consideration, which if due to the right advice and guidance can be created far more transparent and easily understood!
If you take the proper advice, it is possible to avoid joining those that unfortunately could have ventured blindly in to the Spanish property market, only to discover frustration down the road if it is invariably to late.
Property Search Agent
We have been a house Search Agent here on Mallorca, whether searching for your own Personal Island Home, Investment or Accommodation, are created to save greater than your time and charges.
Our primary focus through our direct personal contact, is always to completely understand your requirements and translate these into ensuring the best available property choices are presented to you.
Summary Guide of costs/fees when purchasing property in Spain:
The overall broad brush rule is always that a purchaser will need to plan for additional costs to pay all tax liabilities and costs approximately 12-17% with the price. Please be aware: all costs are determined at the time of purchase.
Who pays what between seller and buyer?
Spanish Law states that unless stipulated inside the Contract, fees and taxes are split between the buyer and the seller as follows:
The purchaser pays: The acquisition tax or IVA, Registration fees, bank mortgage fees and Notary costs
The Seller pays: The auctions fees, capital gains tax, the ‘plus valia’ tax and bank and registry charges to cancel an existing mortgage.

Real Estate Agency fees:
Inspite of the ability from the internet to bring together consumers without the need for a real estate agent, many people still like to use agents or even a private Property Search Agent to locate or rent property vacation.
Generally, estate agency fees or commissions are paid through the seller, unless otherwise agreed.
If the buyer appoints your own Property Search Agent, then a search agents fees are paid through the buyer.
Normally such pricing is more than offset by the personal service from the Property Search Agent, when it comes to negotiating the very best purchase deal, the opportunity usage of off market properties, your own personal some time and costs saved, plus generally improved legal fees!!
You ought to know that Real estate professionals in Mallorca otherwise careful, may charge between 2% and 15% of the sale price, generally they're normally around 6%, but could vary dependant on the spot and kind of property.
Unless the customer has specifically consented to give the agent’s fee, this cost will be constructed into the sale price.
Your Property Search Agent if appointed, should hopefully ensure all fees are kept for the most economic levels, including their very own costs, whilst negotiating the most effective cost possible with you!
Legal fees
You might be strongly advised to interact legal counsel to assist you throughout the buying process.
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