In order to sell your property in Mallorca, it is not enough to put it on the market. There are essential errors that are constantly repeated and must be avoided.
As a lawyer specialized in property transfer I see how the same mistakes are repeated when selling a property in Mallorca and can be avoided by planning the operation a little.
A real estate agent once told me that properties in Mallorca can only be sold a fourth or fifth time. That is to say that before selling it there are at least four people who wanted to buy it and finally they did not.
Why is it difficult to sell your property in Mallorca the first time?
As a lawyer who often represents buyers I am very clear that there are three fundamental mistakes.
1.-The property is not sold because the seller offers more than he /she has.
It may seem impossible, but it is very common that the seller does not know, for example, that he is using a part of the terrace that is not his. It is usual that he does not know that a small room or a porch were built without a license, and therefore they are illegal, or that there is a right of way inside his property.
Whether the seller hides it on purpose or ignores it, the potential buyer ends up discovering it. At that moment he /she thinks he/she has been cheated and decides not to buy.
How can you avoid the mistake of offering what you don’t have?
Before putting your property in Mallorca on sale you must know what you are selling. A specialized lawyer has to review the property as if he were the lawyer of the potential buyer.
If the buyer is informed from the first moment of the reality, he understands it and accepts it.If he discovers it after making an offer, he feels cheated. Doesn’t it seem easy? Well, dozens of times a year I see purchases broken for that reason. The buyer wastes time, the seller wastes time, the Real Estate Agent wastes time and so do the lawyers.
Does anyone really believe that buyers no longer hire a lawyer to oversee the purchase? That used to happen 5 or more years ago now it is very rare. And even if it does happen, if something is wrong then the buyer can complain to the seller.
2.-Lack of documentation when selling your property in Mallorca.
This mistake it’s easy to avoid when selling a property in Mallorca, bud for some reason it happens so often. The real estate agencies only ask for the previous title (that in reality they do not need for anything), the Certificate of Energy Efficiency and the Certificate of Habitability. All these documents are generally easy to get before signing the sale.
However, if the buyer is diligent he /she will ask for many more documents that can take weeks to obtain. A certificate of non-infringement, a cédula urbanística or the original plans of the license, are not obtained in a week.
The seller always waits for the documents to be requested, and this is one of the mistakes to avoid.
If the seller takes too long to get them, the potential buyer -who is still looking on the market- may decide on another property.
How to avoid this problem when selling your property in Mallorca?
By letting a specialized lawyer go ahead, letting him think about all the documents that the potential buyer will request and preparing them before.
If someone has decided to buy the property, you should immediately give him/ her ALL the documents he /she may ask for. It is not enough to have the Cédula and the Certificate of Energy Efficiency. It is necessary to ADVANCE to the requests of the buyer.
As a lawyer who often intervenes in favor of the buyer, I often wonder if the seller, really wanted to sell or was just playing to put an ad in a Real Estate Agency.
3.-Selling your property in Mallorca by giving the exclusive rights to a real estate agency.
To give the exclusive rights to a real estate agency there has to be a reason. If the real estate agency has the client in exclusive, it is a good reason. Do they have it?
If you were the buyer, would you enter alone in the web of a single Real Estate Agency or in several? Then, why to trust that exactly the potential buyer is going to go to that real estate agency and not to another one.
If there is not a reason, the more the better.
How much does it cost that a lawyer reviews the property, makes sure that the buyer is informed correctly and prepares the documentation ?
In my case, when I provide this service it should be free of charge to the seller. If I manage the sale, my fees are deducted from the real estate agencies to which I entrust the marketing. Contact me now and avoid mistakes that may frustrate the operation.