A BRIEF GUIDE TO BUYING

Please be assured that we at Destiny Mallorca will not attempt to pressure you in any way to make a decision to purchase during or after your visit. You decide yourself in your own time, usually after your return home, careful consideration and discussion with your family and friends.

Should you decide to proceed further on a business and can agree a purchase price with the seller, we will prepare a simple 'option' contract written in English which, when signed and received by us together with a deposit will secure the business to you.

The contract will state the name and address of the business, the buyers and sellers details, payment terms and a completion date. The deposit is normally 10% (assuming a 30 day completion & minimum sale value of £25,000) and will be held in a dedicated 'client account' .

The contract is designed to protect you as the seller agrees to remove the business from public sale to your benefit for the period of the option and cannot sell to any other party. Should any problem be discovered with the transfer of licences, etc., then your deposit will be returned in full.

Your fiscal adviser or lawyer will negotiate the new lease/rental contract or escritura, confirm the licences are in order, and that all service bills, rents, rates & taxes, etc are paid to date. Should there be any debts outstanding at the time of completion we will deduct from the completion monies before transferring the balance to the seller.

For a normal business transfer (eg: small bar) best to allow between 1,500€ (£882) and 2,000€ (£1,176) for legal charges plus local taxes & town hall charges which you pay direct to your lawyer. Beware any of our competitors charging you more - it will inevitably be to their own benefit! Your legal fees will include the new lease contract on the premises, licence transfers, your residencia's, NIE and social security registrations, etc., in short every piece of paper you require to take over and run a business, and to live on Mallorca.

Upon your return to Mallorca we will endeavour to assist you to find accommodation, introduce you to local tradesman and suppliers as you may require and generally help you settle in to your new lifestyle as best we can. We will be here to help you for as long as you need us.