What do I have to consider when buying an existing finca?

Before you decide to buy an existing finca, it is fundamentally important to have all the papers checked by a lawyer. After a positive check for 100% legality and a basic assessment of the existing building structure, a purchase contract can then be concluded with the notary. Normally, the purchase contract with the notary is preceded by an option contract. This means that in Spain you usually work with two contracts. A preliminary contract (option contract) that secures the right to purchase the property and, on the other hand, the final purchase contract with the notary. It is important to know here that the notary only checks whether there is a debt on the property and whether the seller corresponds to the person registered in the land register. The notary does not check legality!!!! Therefore, always seek the advice of a lawyer before making any purchase!

The preliminary contract (option contract) can be concluded privately and you normally pay 10% of the purchase price directly to the seller.

My advice:

I always recommend signing an options contract drawn up by a lawyer. As always with contracts, sometimes the devil is in the details. I also recommend depositing the option money in a notary escrow account. This offers more security for you and gives you a clear advantage if there are discrepancies and you want to request the money back. The notary escrow account can be easily opened with a notary. The financial investment is definitely worth it, because once the option payment has been received by the owner, you can demand it back and sue through a lawyer, but it is easier if you draft the contracts in advance in such a way that there is no need for a bad end. You save time, nerves and money!

Once the purchase contract has been concluded and you are a proud property owner on Mallorca, we will see to what extent the renovation or refurbishment should take place.

In principle, a license must be applied for from the responsible building authority for every activity. This is either approved straight away and you can start straight away, or you have to allow for a certain waiting time for the license to be issued. This depends on whether a small or large building permit (e.g. a roof replacement or volume changes) is being applied for.

You don't need to worry about this, because it's my job to guide you quickly and easily to your goal and I'm in my element. Compare cost estimates, brainstorm ideas...

I'm often asked what I enjoy more...building a new building or renovating an existing property. I find both exciting. Renovation is always a challenge and I love it. When renovating, I enjoy combining old and new and incorporating old, beautiful details into the renovation. To feel the history of a house and to breathe new life into it.

With new construction it is the process of creation... from the dream plan into the actual implementation and seeing how a dream comes true little by little...

You can see my heart beats for both and so it can begin...

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