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 …
Selling property in Mallorca
In order to sell your property in Mallorca, there are essential errors that are constantly repeated and must be avoided.
There are three fundamental mistakes.
The seller offers more than he /she has.
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.
Lack of documentation when selling your property in Mallorca
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.
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.
Make a declaration of new construction (called Obra Nueva) before to sell your property in Mallorca or any other place, it’s fine and fair. The mistake is to do it to “make-up” the property and deceive the buyer, or to make it believing that it is equivalent to legalize the property when it is not. …