MUNDO PISOS - Comprar

Do you want to buy a flat or a property in Majorca?

Trust in our professionalism and experience.

In Mundo Pisos we understand when a client wins, we all win.

To buy a property is certainly one of the most important decisions in life, so it usually generates doubts, fears and at the same time anxiety.

Mundo Pisos wants to help you throughout this process, to give you security and to protect your interests. Therefore, all the time you will be kept informed of the entire purchase process in order to clarify doubts always considering your wishes, dreams and needs.

We believe our job is satisfying both for you and for us.

Useful questions

Who can buy?

To be able to buy a home you need to comply with three fundamental requirements:; Want to buy. Can buy. Be mental and emotionally prepared to buy. BEFORE STARTING TO SEARCH PROPERTIES. Before starting to visit properties we suggest you to ask yourself some questions: What motivates me to buy? Do I want to buy or do I just look for information? How long have I been looking for? Am I sure what I want to buy? Can I buy? Am I ready to buy?

Our product

Our wide product range includes a variety of new or second hand housings: apartments, flats, attics, groud floors, houses, chalets, rustic houses, comercial properties, lands, holiday villas… La satisfacción de encontrar su hogar ideal es nuestro objetivo. In Mundo Pisos we priorize the search of the best product. All our property portfolio for sale has been passed through a filter of rigorous selection, obtaining better relation of quality-price of the estate market.

Our services

Real estate law, mortgage financial dictionary. Mortgage calculator. We dispose of a proffessional real estate team and legal consultants to protect your interests during and after the process of trading. Our team is specialized in designing of financial customized offers. Current and dinamic Web. Reform service for our clients. MUNDO PISOS offers professional service for each specific case. We offer you an integral service of different types of documents used in the sphere of real estate: deed preparation, mortgage cancellation, notary, registration… We offer impartial and transparent information about the real estate market, price regime and perspective of the future of the product. Our knowledge of the real estate market and our clients´ confidence are the proof of the quality of our services that are recommended and make return to Mundo Pisos.

Could I be interested in signing a pre-contract or a deposit agreement?

If you have found the house you were looking for, we recommend you to make a reservation. Remember that the same house may be liked by others, that can overtake you. A property reservation will be legally guaranteed when a deposit agreement or pre-contract is signed. During the period the deposit agreement is signed, the seller won´t be allowed to matket, to transmit or to burden the property to another person during the option time indicated in the contract. Thanks to this we can proceed with all the necessary managements to achieve the requested mortgage. Following we will find out what a contract is, the essential elements for its validity and types of the deposit agreement that we can use depending on the needs and the agreement of both parties.

What is the sale and purchase agreement?

The contract exists from the moment the both parties agree to be obliged to give or rent a certain service. (Art. 1254 del Código Civil). Due to the sale and purchase agreement one of the parties is obliged to hand over a product and the other one to pay for it a certain price in money or in sign that represents it. (Art. 1445 del código civil). ESSENTIAL ELEMENTS OF CONTRACT/The Civil Code (Art. 1261) establishes that there is no Contract if the following requiremens are not concurred: Consent of the contracting parties. Certain object that is a matter of the contract. Established reason of the obligation (it is the common intention of reaching an end). WHAT IS THE SALE AND PURCHASE AGREEMENT? The sale and purchase agreement is a private contract that sets out the agreed parties of the deal in order to sell / buy a property, submitting an amount of money as a deposit. It´s a part of a so called pre-contracts, as it obligates to sign the future contract (the sale and purchase one).

Property sale in Spain

There are three types of sale and purchase agreement: THE CANCELLING DEPOSIT AGREEMENT: is also called withdrawal, because since in pursuance of thereof, if deposit agreement or deposit of purchase agreement is signed, it can be cancelled, in this case the buyer loses the deposit or the seller returns a double amount of it. (Art. 1454 of Civil code). THE CONFIRMATORY DEPOSIT AGREEMENT: act as a proof or confirmation of the perfection of a contract and that its implementation has started. What was handed over is considered a part of the price of the contract, as an enforcement of a guarantee that will be lost in case of a breach of the contract, but not separated from it. If one of the parties backs out, the other party can demand contract compliance or resolution and the compensation for damages and caused loss. We should singn this contract type when the buyer is sure about the investment and financing. In this case if the seller breaches the contract and doesn ´t want to sell, we can demand compliance. THE DEPOSIT AGREEMENT AS DAMAGES COMPENSATION: its aim is to serve as collateral for the contract compliance. The quantity that the buyer can loose or should return a double amount to the seller in case when the purchase agreement is not fulfilled. Nevertheless the one that desisted in the contract execution does not comply with the unfulfilled obligations, it can be demanded coercively. There is undoubted analogy with the penal clause, and its normative of damages will be applied. (Art. 1152 CC). More information: Financial services of Mundo Pisos Real estate law Financial dictionary

Financing

THE MORTGAGE FINANCING
It´s the most competitive, transparent and secure activity: Competitive because there are many diverse offers. Transparent because it´s totally regulated by law. Secure because a notary intervenes and gives public trustworthiness of the transaction, with the posterior inscription en the Property Registry. In Mundo Pisos we provide free financial analysis, we dispose of financial assessor specialized in designing of personalized financing proposals. Besides, we have agreements signed with spanish and foreign banking entities to obtain the best mortgage conditions in the real estate market. Putting your finances in order and having all the necessary financial information will help you to evaluate your capacity of indebtedness and accumulated savings, and current and future income and expenses. Below we explain what a mortgage is, the types of mortgage loan, necessary documents to request a loan, the expenses and taxes in the property purchase.
WHAT A MORTGAGE IS?
The mortgage is a real right of guarantee and value execution that is made in the presence of a notary. Besides the law requires that the mortgage deed is signed in the Property Register. Essential requirement the mortgage in order to be effected between both sides and in presence of the third parties is exclusively is to serve as a guarantee, allowing the mortgagee (bank, saving bank, natural or legal person) to submit the mortgaged property to forced sale, in case the debt is not paid within the agreed term.
WHO BELONGS THE MORTGAGED PROPERTY TO?
Real estate is not a property of the Bank by the fact it granted the mortgage. At all times it is owned by whoever bought it, who can sell or rent it, inclusive to mortgage it once again, among the legal limits.
WHAT IS THE BEST MORTGAGE LOAN?
The best mortgage loan is the one that suits your possibilities the best. It requires to keep in mind the three essential factors that intervene in the monthly payment of your mortgage: Loan amount Rate of interest Payback period
TYPES OF LOAN MORTGAGES
You can choose the wished monthly payment among a wide variety of types of mortgage loans. The examples: Moving house mortgage: there is no need to sell your current house to be able to buy a house of your dreams. You can buy a house and move in having in your disposal 5 years to sell your old house making the monthly payments as it was already sold. Mortgage till 50 years: Extend the deadline to pay a reduced monthly fee. Mortgage of increasing repayment: Start to pay less and every year increase the repayment installment between 1% and 2,5%. Balloon payment mortgage: Leave a 20% or 30% of total of your mortgage for the final payment and reduce the monthly payments. Armored payment mortgage: Pay a constant fee that will not change over the loan life. You will have a variable interest rate, what will change is the repayment term, but not the fee. Open mortgage: You will have a long term mortgage guarantee to purchase of your habitual residence that will allow you to dispose of the amortized amounts again, and any future financial need: home renovation, illness, car purchase, parking… Mixed payment mortgage: Pay an interest composed of a variable part and a fixed interest. You don´t have to choose between white and black, grey exists. Mortgage with lack of capital: Do you want to pay only the interests and to leave the loan amortization for the future? You would pay much less than a rent this way. Fixed rate mortgage: the rate of interest of these mortgages won´t be changed during the mortgage term for the original buyer. Foreign currency mortgage: is that mortgage loan that instead of being referenced to the Euribor or Mortgage Loan Reference Index IRPH is referred to another currency or foreign currency, for example: (Japanese Yen, Swiss Franc, Pound Sterling, Dollar, etc.). That allows us to take advantage of low interest types present this moment in respective countries, such as the weakness of the currency exchange rate in question.
NECESSARY DOCUMENTS TO REQUEST A MORTGAGE LOAN
FOR SALARY EMPLOYEES: I.D. / Foreigner Identity Number N.I.E. Work contract 3 last payrolls Employment history Retention certificate (I.R.P.F.) or tax return 6 last months of account statements (bank book) Last loan receipt (If applicable) Rent contract and 3 last receips (If applicable) SELF-EEMPLOYEES: I.D. / Foreigner Identity Number N.I.E. Recent retention certificate (I.R.P.F.) Last quarter VAT VAT annual summary (previous year) Last self-employee receipt (The social security payment) Economic Activities Tax last receipt (I.A.E.) Registered economic activities Bank movements Loan last receipt (If applicable) Rent contract and three last receipts (If applicable) DOCUMENTS THAT THE SELLER SHOULD PRESENT: Fotocopy of the deed and current land registry note Last paid annual receipt of the Real estate Tax (I.B.I.) Last paid annual receipt of a waste incineration tax (solid waste) Last paid receipt of the community payment Necessary documents to contract the services and supplies of the housing Conformity certification in case of need to pass the building inspection (I.T.E) In case of a new building: Deed declaration of New Construction and Horizontal Division Certificate of occupancy Quality report Plan of the property with the specified useful and constructed surface accredited by competent technicians Building situation plan Documents related to the property guarantee specifying the: guarantors, the holders of the guarantee, the rights of the holders and the term
EXPENSES AND TAXES IN THE PURCHASE OF A PROPERTY
The costs of buying and selling a property are shared between buyer and seller. EXPENSES TO EXPECT WHEN SELLING YOUR HOUSE The added value: is a Municipal tax on the increase in the value of the land, which is paid when every transfer of the property is made. The derivatives of the intervention of a Real Estate Agent. EXPENSES WHEN BUYING A HOUSE The property transfer tax of free second hand housing (VAT 10% in new construction). This amount is paid on the registered value. Approx. documented legal acts (A.J.D.). , this tax records the notarial documents of the value of the mortgage guarantee. Mortgage loan expenses deed if proceed. Bank expenses: opening fee, insurance, you will be informed by entity of any possible commission in case of advanced amortization. Notary: a deed of mortgage loan and a deed of sale are made. Property registry: the deeds are made as you are the new owner of the housing, and that you have a mortgage loan. Agency: is specialized in dealing with legal and administration work: registration, tax payments… Property appraisal: the buyer is to transfer the payment to the appraisal entity bank account. The total expenses of a property purchase vary between 9% and 13% of the deed value. www.mundopisos.com/financial-dictionary/ Real Estate Financial Dictionary//www.mundopisos.com/law/ Real Estate law

Do you want to buy a flat or a property in Majorca?

Useful questions

Financing

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