Legal Due Diligence in Mallorca
Due Diligence. Buy a home or villa in Mallorca with complete peace of mind
Both in the sale and in the acquisition of a real estate asset in Mallorca, it is necessary to offer all the guarantee. It is essential, since the investor has to know exactly what he is buying and under what conditions.
On the other hand, it is important for the seller to offer this legal guarantee and thus make the possible real estate transfer in Mallorca more transparent. For these types of issues, you need a verification process known as Due Diligence..
At ViveComoKieras, we are experts in conducting Due Diligence analysis and reports in Mallorca, for any type of real estate transaction.
A Due Diligence report covers all these guarantees, from different perspectives. Verification, in this sense, is seen from a legal and fiscal perspective of real estate, as well as its administrative situation.
A legal and tax review of the property
For this reason, a Due Diligence report must contain data as essential as the coherence between the real description of the property with which it appears in the Property Registry, as well as the correct cadastral ownership and the financial situation of the property, such as the state of charges, where mortgages or annotations of attachment can be included. This report also checks to see if the property is currently tenant-free.
Experts in statutory audit
With regard to administrative verification, Due Diligence is in charge of verifying that there are no urban infractions or sanctioning procedures on the property or, at least, that they may have an impact on the value of the property, in addition to whether there may be some risks, due to administrative contingencies. Likewise, it is verified that there are no restrictions in the bylaws of the community of owners that may affect the value of the property.
With all this information, it is possible to offer a report of the fiscal cost of the real estate operation and that takes as a reference what is the real value of the real estate asset.