Buyer's Guide
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Co-ownership: when purchasing a flat or apartment, there are normally joint costs for maintenance, communal areas such as gardens, lifts, cleaning, insurance, administration, etc.
This may also be the case if you purchase a property in a private development, regardless of whether your home is a detached house, as there are still certain communal costs. It is advisable for the seller or the agency to inform you on the annual amount of these costs so as to avoid surprises in the future, as, once you have made your purchase, you may find yourself with a monthly bill to pay. Ask for a certificate issued by the co-owners association stating that all communal costs have been paid to date.
Insurance: if you have to take out a mortgage when purchasing a home, the banks normally require the inclusion of a clause stating that they will be the first party to receive payment in the event of accidents. We at Inmobiliaria Menorca would suggest that you purchase insurance or to check that you are covered by a policy from the first day you take ownership of your new home in order to avoid problems vis-ą-vis third parties.
Benefits and Subsidies: the regional and national governments currently make a range of benefits available to young people looking to buy their first home in the form of significant reduction in the ITP and improved mortgage conditions, if you meet a series of requirements as regards your income, the size of the property and other essential requirements to be eligible for this assistance. Inmobiliaria Menorca is committed to its customers in this regard, because we believe that our work goes beyond simply selling Villas, flats and apartments. Our work also includes providing you with information on all possible advantages within your reach. More information on these benefits can be found at ibavi.caib.es.
At Inmobiliaria Menorca, real estate agents, our commitment to our customers goes beyond simply negotiating purchases, because we consider it our duty to inform our customers, whether sellers or purchases, since they trust in our management. We do not just complete the sale. We also provide you with all of our assistance for pre- and post-sale procedures: changing the name on bills, setting up direct debits, paying taxes, contracts, organising appointments at the notary public and all of the procedures involved in a properly managed property purchase
If you have any questions or wish to make an enquiry, do not hesitate to contact us.