Buyer's Guide

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Expand certificate of habitability The certificate of habitability:- this document is issued by the Island Council (Consell Insular) once all of the requirements for a new build have been met (it is valid for 10 years). If you need to renew it or if you do not have one, you can obtain it by "exclusion" (carencia).

Taxes: although the different taxes to be paid have already been indicated in this guide, you should bear in mind that there is a Treasury Department that checks the real value of urban and rural properties in the Balearic Islands. In order to avoid receiving a so-called complementary declaration, i.e. a letter from the Authorities, after they have checked the purchase amount declared in the deeds, stating that they consider it to be below the amount that should have been declared based on their calculations in accordance with the different laws covering this issue.

You can get an approximate estimate of the value using the application provided by the Agencia Tributaria (Spanish Inland Revenue). All you have to do is fill in a series of boxes to get an approximate estimate of the purchase price that has to be included in the deeds in order to avoid problems (then again, why put a higher price in the deeds than the one you actually paid?). Unfortunately, with regard to the taxes that sellers have to pay, we cannot provide you with any guidance, as this depends on each individual's personal circumstances (resident, non-resident, retired, main residence, etc.). Nevertheless, we can help you with this sort of doubt if you explain your personal circumstances to us.

Legal and Register Costs: legal costs vary. If you have to arrange a mortgage, then legal costs increase considerably. The cost of recording a deed as public is around 3% of the declared value, if a mortgage is included. However, if you do not require a mortgage, taking a typical 100,000 euro purchase price, the notary public and register costs should be approximately 1,000 euro.

General Costs: when purchasing property, it is important that you are clear on all monthly, quarterly, six-monthly and annual costs that your future home may have and that they are all fully paid to-date on the day of transfer.

On the next page you will find a list of a few of the set costs that properties incur. »

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