{"id":25236,"date":"2024-04-18T12:51:19","date_gmt":"2024-04-18T10:51:19","guid":{"rendered":"https:\/\/coolhomesmallorca.com\/how-to-buy-a-newly-built-property-in-mallorca\/"},"modified":"2026-03-18T10:50:48","modified_gmt":"2026-03-18T09:50:48","slug":"how-to-buy-a-newly-built-property-in-mallorca","status":"publish","type":"post","link":"https:\/\/coolhomesmallorca.com\/en\/how-to-buy-a-newly-built-property-in-mallorca\/","title":{"rendered":"How to buy a newly built property in Mallorca."},"content":{"rendered":"

The process of buying a new property in Palma de Mallorca generally involves the
\nfollowing steps:<\/p>\n

Research and search: Choose an experienced and trustworthy estate agent<\/a> to guide
\nyou through the process of finding a new property. Specify your needs and preferences
\nin terms of location, size, budget, and property features. It is also important to provide
\ninformation about your lifestyle to view properties in different areas of Palma de
\nMallorca.<\/p>\n

Viewing and selection: The estate agent will present you with a selection of new
\ndevelopments in Mallorca and once you have chosen the options that best suit you,
\nthey will arrange visits to the developments or sales office. During these visits you
\nshould evaluate the quality of construction, finishes and customisation options, energy
\nefficiency, location and the experience of the developer or builder in developing
\nproperties.<\/p>\n

Reservation and contract signing: If you decide to proceed with the purchase, you will
\nneed to reserve the property and sign a reservation contract. This contract usually
\nrequires a deposit, which may vary depending on the developer or seller. Generally, the
\nreservation is non-refundable and the time to formalise the purchase contract is 1 week
\nto 10 days, depending on the developer or seller. Be sure to check the terms and
\nconditions of the contract carefully before signing, and it is common to hire a lawyer to
\nmake sure the paperwork is in order.<\/p>\n

Deposit and purchase contract: Once the reservation has been completed, a deposit of
\nbetween 10% and 20% of the value of the property is usually required when the
\npurchase contract is signed. This contract details the terms of the purchase, including
\nthe price, floor plan, specifications, payment terms, date of delivery of the property and
\nany other terms agreed between the parties. If the client is not resident in Spain, a
\ndeposit of 30% of the price of the property may be required.<\/p>\n

Inspection and delivery: Before handing over the property and signing the title deeds at
\nthe Notary\u00b4s office, a courtesy visit will be made with the buyer to check that the
\nproperty is in perfect condition and that there are no defects. If there are any defects,
\nthe developer or vendor is notified so that they can be rectified as soon as possible.
\nSigning the deed at the notary\u00b4s office and registering the property: Once the public
\ndeed has been signed, the property will be registered in your name at the Land
\nRegistry. This step is essential to legally formalise the purchase and ensure that you
\nare the legal owner. If you hire a lawyer, they will carry out this process on your behalf.<\/p>\n

Furnishing and decorating: New homes are usually delivered unfurnished, with only the
\nkitchen and bathrooms fitted. We can recommend decoration and design companies to
\nhelp you furnish the house according to your tastes and needs.<\/p>\n

Guarantees and contractors: On the day of signing at the notary\u00b4s office, you will
\nreceive a USB, the building book, which explains the functioning of the building\u00b4s
\ninstallations and the house in electronic form. It also includes the contractors involved;
\nin case it is necessary to contact them . According to the Law on Planning and
\nConstruction (LOE), the warranty period is 1 year for defects in completion and
\nfinishing, 3 years for defects in habitability, functionality and safety, and 10 years for
\nstructural defects.<\/p>\n

It is important to have the right advice throughout<\/a> the process, both legal and financial,
\nto ensure that everything is done correctly and in accordance with the legislation in
\nforce in Palma de Mallorca.<\/p>\n","protected":false},"excerpt":{"rendered":"

The process of buying a new property in Palma de Mallorca generally involves the following steps: Research and search: Choose an experienced and trustworthy estate agent to guide you through the process of finding a new property. Specify your needs and preferences in terms of location, size, budget, and property features. It is also important…<\/p>\n","protected":false},"author":1,"featured_media":25233,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[121],"tags":[],"class_list":["post-25236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buyers"],"yoast_head":"\nHow to buy a new construction home in Mallorca - Cool Homes Mallorca<\/title>\n<meta name=\"description\" content=\"Cool Homes Mallorca guides you to buy a home in Mallorca. 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