The term is commonly used in Mallorca by realtors, and it means “country house” in Spanish. The
term is mostly used for large quantities of land. There are a variety of regulations that we are always
very open to explain such as legal sizes, the different uses that the property can have, or how the
finca needs to look like among the possibilities given by the different town offices. The term Finca is
also used for an agricultural property that is mostly undeveloped and rarely for an apartment.
It´s a customary tax in Spain that the seller must pay for the time of ownership of the property. The
added value of the buildings are calculated in advance. The amount to be paid can usually be
extrapolated, this needs to paid after the notary day.
The transaction of selling or purchasing a property must be done at a notary under all the legal parameters of Mallorca and Spain. On that very same day you can sign the deeds of the house afterwards both parties exchange the bank check and the keys of the property. All the information or documents given to the notary are always handled with the highest discretion and privacy.
We as realtors prepare the notary’s appointment and hand in all documents to the notary some time before the date of the selling/purchase of the property. We collect all documents and verify all of it in advance. Documents can either come from the seller such as the utility bills, or deeds of ownership among some others and on the buyers side, we also collect the identification documents and payments slips. Both parties are free of any inconvenience and tedious processes.