Whether you are looking to purchase property in Ibiza as an investment or to live in permanently, there are many things that you need to consider. It is also very important that you have a good grasp of the legal proceedings that need to be undertaken before that new home is yours.

Being in the Balearic Islands, Ibiza has a very similar buying and selling process to Spain. In this blog post will aim at guiding you through the process and show you what happens in each stage when buying real estate in Ibiza.

Find A New Property
This is perhaps the easiest part of the whole process. There are many estate agents on the island where you will find an abundance of properties on offer. There are of course other ways to find that dream home including newspapers, internet and not forgetting word of mouth.

Find A Solicitor
Many overlook this step in the process and just use the first one that they find. One thing is for sure, do not go with the solicitor that is recommended to you via an agent that you use and also do not go with the same lawyer as the other party.

Ways of finding a good lawyer include asking friends who can recommend one or by looking on the web and seeing if you can find recommendations in the property forums.

It is also important that the lawyer speaks your language well so that they can explain everything to you clearly and not leave you scratching your head once you leave their office. So take your time and make sure you choose wisely.

Making An Offer
Of course, now that you have found that dream home, you will want to negotiate the price with the vendor. Time to show some steel and get your bartering hat on.

Make sure that you do some good research and take a look at comparative properties in the area in which you are looking to buy in. No point in paying over the odds right?

Try and see if you can find out what similar properties in the area have been sold for recently.

The Agreement and Deposits
After you have agreed on a price with the vendor, you will then need to hand over a 10% deposit in order to secure the property so that it can be taken off the market. This is when the “compra venta” contract of sale is drawn up. The compra venta agreements will outline all the details of the sale including any clauses that have been applied. It will also include the date of completion.

Completing the Sale
This is the ultimate aim. If you can get to this point without minimal hiccups then this is idea.

At this stage, both parties would meet with the notary in order to complete the sale and transfer the title deeds to the new owners. At this stage all utilities would be transferred to the new owners.

You would then need to settle any taxes and also any fees owed to estate agents, banks and notaries.

If you are considering buying real estate in Ibiza then you have made a great choice. By following the above and employing the services of a reputable agent, all should go just fine.