I am buying a property in Menorca. It does not have a touristic licence (is 4 bed 4 bath with pool). I want to buy with the touristic licence in place (so the seller has to get one. The agent doesn’t seem keen on this and says I will have to pay 500euros to transfer over to my name after I buy and will be cheaper to take the 350 euros it will cost the seller to get a touristic licence off the asking price and then me apply.
I don’t want to risk the property not getting the licence.
Is that correct it costs 500€ to transfer the licence?
Would a 4 bed / 4 bath automatically get a licence? The agent says yes but I don’t trust agents
Does the licence have to be in the name of the owner or can he apply now for it in my name?
Any updates, advice would be gratefully received. What should I do? My thinking is to get them to get the licence and then transfer it to my name afterwards.
Investment does not come with guarantees. Even if your seller obtains the licence there is no certainty it will be transferred to you. Spanish bureaucracy is notoriously obtuse.
The regional governments are trying to restrict these licences to help the hotel trade particularly in the islands. I would be very careful and ignore what the agents tell you.
The risk is all yours.
I have sold land before where planning consent was in place only to find it revoked to the purchaser later on without reason.