subject: Long Term Property Investment in the Balearics [print this page] Purchase Process Purchase Process
Properties purchased in the Balearics may be secured for 10% of the purchase price, typically. A private contract must be signed by both the seller and the purchaser. A deed of conveyance or "escritura publica" must also be signed by both parties along with a notary public. Experts advise purchasers to obtain a lawyer which is typically 1% to 2% of the purchase price. Commission for Estate Agents is usually a percentage of the selling price and is typically paid by the seller.
