Buying a house on Mallorca is simpler than most people expect, but the order of the steps matters. Here is how a typical purchase runs, from the first viewing to the day you get the keys.
1. Tax number and bank account
Before anything else you need an NIE, the Spanish tax number for foreigners, and a local bank account. Both can be arranged in a few weeks, and you can do most of it with a power of attorney.
2. Offer and reservation
Once an offer is accepted, the house is taken off the market with a short reservation contract and a small deposit, usually a few thousand euros. Your lawyer then starts the checks.
- Land registry: who owns the house and whether there are any debts on it.
- Planning: that every part of the house is legal and registered.
- Taxes and community fees: that they are paid up to date.
3. Private contract
When the checks are clear, buyer and seller sign a private purchase contract and the buyer pays around ten percent. From this moment both sides are bound to the sale.
4. The notary
The last step is signing the deed in front of a notary. The rest of the price is paid, the keys change hands, and the notary sends the deed to the land registry.
Plan for six to ten weeks from offer to keys, and around ten to thirteen percent of the price for taxes and fees.
