Wow factor 5 bedroom House for sale in Palma, Mallorca
This is an incredible opportunity to acquire a stunning property just 50m from the Plaza Major.
Meticulously renovated, this historic structure now features contemporary interiors and cutting-edge technology, all while preserving its authentic architectural charm.
The house has a constructed area of around 698m2 distributed across five storeys. Among its impressive features is a luxurious basement that includes a Spa area with a heated indoor pool, a sauna, guest WC, and laundry room.
The gro...
This is an incredible opportunity to acquire a stunning property just 50m from the Plaza Major.
Meticulously renovated, this historic structure now features contemporary interiors and cutting-edge technology, all while preserving its authentic architectural charm.
The house has a constructed area of around 698m2 distributed across five storeys. Among its impressive features is a luxurious basement that includes a Spa area with a heated indoor pool, a sauna, guest WC, and laundry room.
The ground floor has an entrance hall and garage that can accommodate two cars plus a bike.
The first and second floors are dedicated to the five bedrooms, each with its own en suite bathroom, while the living room and main entertainment space is located on the third floor.
The fourth floor offers a luxurious fitted kitchen with a dining room and a dumbwaiter to easily transport food to other areas of the house. From the fourth floor you can directly access the roof terrace which boasts a summer kitchen and impressive views of Palma
Other features include a lift, cinema room, gym, three guest WCs, a centralised sound system, Italian lighting fixtures, and underfloor heating.
There is reverse air conditioning, a Smart Home system, security alarms, and highly efficient double glazed argon-filled windows that provide exceptional noise reduction.
One of the bedrooms could be separated into an independent apartment if required.
Palma, the capital of the island of Mallorca, located in the bay of the same name, has a pleasant climate all year (17.9 degree C annual average). Known for its tourism and elegant shops, this city also offers a beautiful Old Town. The Cathedral, the Palace of the Almudaina, the Lonja square and the Plaza Mayor are some of the places that make this wonderful city so mystical. Palma has excellent public transportation and is just a 15 minute drive away from the international airport.
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This House is located in Palma in Balearic Islands
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Buying a Property in the Balearic Islands
1. Putting down a Holding Deposit
On finding a property you wish to purchase you will need to negotiate the terms, price and conditions of the sale with the owner. This part of the process is not binding. We would recommend using an independent English speaking legal advisor. Once a purchase price has been agreed, normally a holding or reserve deposit will be required to ensure the property is removed from the market. The sum required will vary between properties and will be based on the purchase price. A time limit for the preagreement to be signed will be arranged and there will also be legal checks to be made.
2. Setting up a Pre-agreement (Contrato privado de compraventa)
The pre-agreement will set out the conditions under which the Buyer and Seller agree to complete the purchase of the property and the price they have agreed upon. Relevant details will generally be included for example the property details, purchase price and the date for completion. A deposit will be required at this point, this will vary, but will generally be 10% of the agreed price. This agreement will include a penal clause if the sale does not go through. If the seller pulls out of the sale your compensation will be double the deposit you have paid, but if you decide not to go through with the sale then your deposit will be lost. Certain checks will need to be made before signing the contract, checks should be made against the title of the property, mortgage status and if the property has any debts held against it. The planning status should also be looked into. These conditions can be varied by the seller and the buyer and other types of agreement can be made.
3. The Contract (Escritura de compraventa)
Before a non-Spanish purchaser can buy a Spanish property they will need to have set up a Spanish bank account and obtained a Spanish tax number (NIE). The completion will take place in the presence of a Notary Public. This is a Spanish public official, by law the deed of sale must be witnessed by a Notary Public. You will also need your own independent, expert legal advisor to act on your behalf. On Completion the buyer must pay the balance, that is the price agreed after the deposit has been deducted, plus any other fees on the completion date. Both buyer and seller must sign the Escritura de compraventa contract, (this is the Spanish equivalent of the title deeds). The title deeds (escritura) will be given to the buyer, this will be done in the presence of a Notary Public, they will certify that the transfer has taken place. The tax office will be sent a copy and the property registry will be informed of the transfer.