Reply To: Buying in Mallorca – listed prices – how much do you pay?

Spanish Property Insight Forums Spanish Property Forums Property Questions & Answers Buying in Mallorca – listed prices – how much do you pay? Reply To: Buying in Mallorca – listed prices – how much do you pay?

#225431
tomar
Participant

Hi Jakie

PRICE: It’s true that sometimes you can get a discount, but there is not a fixed rate for that (10 or 20%) . The reality it’s prices in Mallorca are raising up day by day and this don’t help when your try to get a discount.

My experience as a Real Estate Lawyer tells me the best way to get a discount it’s giving a real reason to the vendor to get the price down.

Sometimes because you are a cash buyer and vendor need the money to buy another property or some others because you find out something that really makes the price lower, let’s say some minor illegality on the property (yes they are a LOT of illegalities in Mallorca’s properties), or may be the surface on the property registry does not fit reality etc..

Sometimes you don’t need to do give any reason because vendor has set a price out of the market in order to be able to negotiate.

 

VALUATION: If you gonna ask for a mortgage, you will need a valuation of the property. If not, you may ask for it to know the price.

Does the valuation shows the real price? It will show the price for banking reasons because valuations use the bank parameter in order to prove the property will be warranty for the loan or mortgage.

Some clientes ask for it, but it has a cost and if you make a valuation of every property you want to know if price it’s real it’s gonna cost you a big bite.

If you need the contact of some valuators I can give it to you privately without any compromise.

Regards

Toni M. Real Estate Lawyer in Mallorca