How to sell a property in Mallorca

When it comes to selling a property in Mallorca, it is a good idea to understand the process and the documents required to get your property on the market in Majorca. 

1- Choosing A Real Estate Agent. 

The appointed agent will inform you of the documents that will be required to sell your property as th list is ever changing and is subject to the type of property or transaction so please feel free to contact the team at Lifestyle Properties Mallorca who can advise you in all aspects. The documentation required can be provided in stages. The following is a general sample list for a resale
property and may differ for transactions relating to for example; new projects, newly construction property, plots of land, commercial premises etc.

2- Documentation.

The appointed agent will inform you of the documents that will be required to sell your property as the list is ever changing and is subject to the type of property or transaction so please feel free to contact the team at Lifestyle Properties Mallorca who can advise you in all aspects. The documentation required can be provided in stages. The following is a general sample list for a resaleproperty and may differ for transactions relating to for example; new projects, newly construction property, plots of land, commercial premises etc.

The documentation required for a real estate agent to list your property:

• Title Deed to the property or Land Registry report / Escritura or Nota Simple

• Local municipality property tax invoice / Recibo de Impuesto Sobre Bienes Inmuebles I.B.I.

• Energy Efficiency Certificate / Certificado de Eficiencia Energética C.E.E.

• Vendor agreement of representation or Notarised Power of attorney if applicable

Plus: Documentation required during the negotiation and in preparation for completion:

• Certificate of Habitability / Cedula de Habitabilidad

• Local municipality receipt for Rubbish collection and disposal / Basuras

• Certificate from the community proving no debt at the point of sale if applicable

• Electricity, gas and water invoices / receipts where applicable

• Notarised Power of Attorney if applicable

   

4- Option to Purchase Agreement / Contrato de Arras

Once an offer has been accepted and confirmed, a contract will be drafted outlining the basis of the agreement between the seller and the purchaser. This contract includes the full details of the seller and the purchaser or their respective appointed representatives, the complete land registry details of the property and also the general terms and conditions of the sale such as the total sales price, the deposit amount being paid at the time of signing the agreement, the penalty incurred if either party withdraws from the sale and an estimated completion date for signing off at the Notary office.

5-Completion

In Spain, property sales and purchase transactions are generally signed off by an authorised Notary.Once all of the documentation has been reviewed and accepted by the legal representatives of both the seller and the buyer and by the chosen Notary then you may proceed to completion. If you are not resident in Spain then we highly recommend that a special Power of Attorney is granted for the sale transaction. It is quite common practice for both sales and purchases in Mallorca as it can help secure completion dates with the Notary office and very helpful for all of post-sale administration required.