Real Estate & Investing

Nick Stuart asked:


Finding perfect Mallorca property that can fulfill your necessities can be a difficult journey with the surplus of real estate firms and greedy brokers. Online companies offer a collection of Mallorca property. Mallorca Property for sale and rent marketplace offers the purchaser an exclusive selection of new or “off-plan” around to “second hand” or “resale” property. The sort of Mallorca property for sale in each way can be split into apartments, town houses or duplex, villas or also fincas and ruins.  Spain is a beautiful place and a perfect place to buy a second home as a second home to reside on!

Online Mallorca property firms are presumably presents best resorts of Mallorca property. Mallorca Property for sale offers real estate investment opportunities such as flights, hotels and car hire to eating out in well known restaurants, you will get online. No spectacle it remains a favorite with relatives decides to buy Spanish property in the beautiful resorts.

Buying from Mallorca Property for sale and renting properties out a erudite villa right on the Pine Walk or a Spanish country house with large swimming pool. The Mallorca property market in Spain leaves one of the most famous picks for overseas purchasers, particularly from European countries like UK but the Spanish property market in many areas of Spain has growing up year by year. Purchasing property in Spain can be so ease in many ways than purchasing in any other country, however, it is not a conclusion or method to take lightly since a huge amount of money is booked as venture. In order to secure your pursuits, and i want to suggest you through all possible problematical land or property issues, i will suggest you to search legal guidance erstwhile to purchasing a property in Spain.

Online Mallorca property for sales is the best place the holiday maker, the renter or the ability purchaser a numerous collection of Mallorca properties to opt from, putting you in perfect manner and then contact with the seller or his representative protect your funds. If you are going to sale property in Mallorca or looking Mallorca property for sale you may just use internet and you will get a lot service provider there offering services like Mallorca property for sale or property in Mallorca. Mallorca property for sale online is a premier marketplace for purchasing property in Spain. Presently, due to low interest rates and good economic conditions, as well as of course, the desire to take advantage of the sun, sand and lifestyle that Spain has to offer. Online investors can find Mallorca property in many different areas for each type of property purchase. Whether it is for investment, a holiday home or villa, commercial or new development property in Spain, you can get all types of Spanish properties which suits every expenditure. You will also find experienced staff to suggest you on all legal and financial concerns pertaining to buying Property in Spain.

Purchasing property in Mallorca is neither a difficult process nor a specific unusual one to those who have, for example, buying property in the United Kingdom. There are many correlations from negotiating a cost and finalizing an “offer and acceptance”; undertaking searches; checking the title; ascertaining all relevant confirmations are in place for the Spanish property; checking it’s condition; agreeing any third party finance for the purchase etc.

IFP Ltd asked:


It is, of course, the nightmare we all dread. Having found your perfect dream home in France, you move into it only to find that the condition of the property is significantly worse than anticipated.

George and Alexandra Mortimer in the Landes found exactly than when they discovered serious water *********** into several rooms in the house, notably the basement and living room.

‘We raised the matter with the previous owners, who denied there was a serious problem; the particulars of the property provided no information on its condition, and the notaire also considered that as we had purchased the property en l’état (in condition as seen) then there was nothing he could do.’

Well possibly, but the law on this issue is not quite as clear cut as the notaire indicated.

In general, it has to be said that the principle of ‘caveat emptor’ (buyer beware) applies as much in French law as it does elsewhere.

However, in France the seller has an obligation to disclose to the buyer all important information concerning the property.

There is nothing in French law that states precisely what must be disclosed by the buyer, save that the information must be something of a profound nature, of which the seller was aware at the time of the sale, and about which, if the buyer had known, they would not have proceeded with the purchase, or would have offered a lower price.

In particular, the seller is obliged to disclose any ‘hidden defects’ (vices cachés) in the property.

If they do not do so, then it is possible for a court of law to annul the sale, or at least reduce the price paid by the purchaser.

Notaires sometimes seek to limit the use of the vice caché protection by a standard exclusion clause the in the sale contract.

In practice whether a court of law would uphold this clause would depend on the circumstances of the case. If the court considered that the buyer had been deliberately misled by the seller, then they could annul the clause.

Indeed, this is precisely what has happened in a number of important court cases, although in other legal decisions the clause has been upheld. It all depends on the circumstances, notably whether the seller acted in good or bad faith.

Our advice to all buyers is that you should press for the removal of this clause in the sale contract. The seller may well object to you doing so, but if they do, then their motives for doing so need to be questioned.

You should certainly be hesitant about accepting to buy en l’état unless you fully understand what you are buying.

Ensure also that any important clause on the condition of the property that may have been included in the sale contract is transferred over into the conveyance.

There are particular guarantees on a house constructed within the last ten years, and there is additional protection if the seller is a property professional – property dealer, property developer or builder – as their own disclosure obligations are more prescribed. Property professionals cannot use the vice caché clause.

Estate agents also have a legal obligation to provide advice to the seller, but you will find few willing to say much in writing!

Learn more in www.french-property.com

Karl Hopkins asked:


In France the house buying process starts with an initial agreement that sets out the terms and conditions of the sale. Although a provisional contract until the notaire, a state official who acts for both sides, has prepared the title deeds, the preliminary contract is legally binding on both the buyer and seller. It is therefore strongly advised to have the contract drafted by a professional (avocat or notary).

The preliminary contract can take various forms:

* A unilateral undertaking to sell: the vendor alone commits him or herself to selling within a defined timescale and at a given price; the purchaser does not commit him or herself to buying but must pay a deposit which can be lost if if the purchase does not go ahead for a reason other than those which have been agreed with the vendor from the outset (conditions supensives).

* A unilateral undertaking to purchase: the purchaser alone commits himself to buying a property under specific conditions; the vendor is held by no obligation.

* A compromis de vente (bilateral agreement – most widespread): the seller agrees to sell and the buyer to buy except if specified conditions (called conditions supensives) and only if all these conditions are complied with. The property transfer only becomes effective if all the conditions are fulfilled. The condition supensive can be obtaining a loan: if a purchaser cannot gather the funds necessary to the operation, there is no more obligation to purchase and the deposit is returned. Conversely, the deposit can be kept by the vendor if the sale is not carried out and the responsibility falls with the purchaser.

Do not pay any money before signing the contract. And when paying, it is best to pay the notary or the estate agent, but never pay the vendor directly.

Once the notaire has carried out the relevant checks and searches and all the conditions are met, the title deeds (Acte Authentique) are signed at the notaire’s office. This can be done by proxy if you cannot attend but your signature on the power of attorney allowing this must be authenticated by the French Consulate or a solicitor or notary public in your country of origin. The purchaser is given a provisional ownership certificate whilst the Title Deed is being registered. The notaire pays the vendor the balance of the price and hands over the keys to the purchaser.

In French law there are only two situations where gazumping can take place. In property transactions, a pre-emption right may arise in favour of one or several authorities. The ‘SAFER’ is an agricultural organisation that can have pre-emption rights over rural properties and agricultural land offered for sale. Furthermore, in agricultural matters, there is often a pre-emption right in favour of a farmer who has worked the land. The DPU (Droit de Preemption Urbain) allows a local authority to buy in urban areas as and when land and properties are offered for sale. Under French law, all purchases made by joint owners can be subject to the pre-emption right of the other joint owner.

There is no direct counterpart to building surveyors in France. Since the 1 September 2002, a survey mentioning the presence or the absence of building materials containing of asbestos (walls, posts, beams, floors etc) must be carried out before the sale of those buildings whose planning permission was delivered before 1 of September 1997. For dwellings built before 1948 and located in designated areas, another survey must be carried out by a qualified technician in order to establish the risks of lead poisoning. In other designated areas, a further compulsory survey reveals whether or not the property is infested with termites. The expert’s report must be less than three months old at the time of completion and is attached to the title deeds.

Whilst structural surveys are rarely carried out by most French purchasers, it is highly advisable to do so, especially when buying older properties.

Where apartments or parts of buildings are being bought, parts of the building can be the property of several owners and intended for the use of all: roof, walls, staircases, corridors, floors. These common parts are managed by a factor on behalf of all co-owners. Important decisions are taken in assembly, according to various rules of majority. Other parts of a building are reserved for exclusive use: this is the case with individual apartments for example. They constitute the privative parts. The law of 10 July 1965, which has been recently updated, provides the legal framework for relationships between co-owners.

Prospective purchasers should familiarise themselves with the co-ownership’s statutes (Reglement de copropriete), as these provide detailed information about what is or not permitted in the building and the way the building’s common charges (for example lift costs, general maintenance) are to be split between all co-owners.

Leasebacks, bring the benefit of tax rebates, equating effectively to a 16.4 per cent reduction in cost are available on new build apartments in designated areas. They can be an attractive formula for rental investment. The investor acquires an apartment in a residence and management is entrusted to a development company during a period ranging between nine and 11 years.

The purchaser is completely exempted from paying VAT. The management company assures the purchaser of a clear annual return throughout the rental contract(around 4.5 per cent on the purchase price net of tax).

It is the management company which deals with the furnishing and the equipment of the apartment and rules all the inherent expenditure (insurance, maintenance, collecting rents and the like.

Purchasing an apartment in a ‘residence de tourisme’ costs between 25 per cent and 35 per cent less than a traditional property, but will not always turn out to be the bargain it seems.

The costs associated with the purchase of a French property break up into three distinct elements:

* Sums due to the Treasury

These vary according to the type of property sold, the area where the property is located and the date of its construction.

* The notary’s fees

The notary’s fees are regulated by a Decree of 8 March 1978 (modified in 1981, 1985 and 1986). They are calculated according to the following scale (and are subject to VAT):

Purchase price 0 to 3,049 euros: 5 per cent

3,049 to 6.098 euros: 3.30 per cent

6.098 to 16,769.40 euros: 1.65 per cent

above 16,769.40 euros: 0.825 per cent

* Miscellaneous disbursements

These include surveyors’ fees, register searches, and excise tax, and may be paid up front by the notary. They usually vary between 458 euros and 1,525 euros.

Buildings will need to be insured. There is a multitude of insurance products whose price and services depend on each case. It is thus necessary to define the various guarantees to which you can or must subscribe.

When a property is already insured at the time of its sale, the policy cover automatically extends to the purchaser. The vendor must give the buyer the insurance policy and contact the insurer to inform him about the transaction.

Property and contents can be insured against a number of risks: fire, water damage storms, explosions, natural disasters and acts of terrorism. Insurance cover against fire hazards will include a guarantee against storm damage. Most insurers offer an electric damage cover which insures you against a dysfunction of the electric system and its consequences (provided the damage does not arise from a lack of maintenance).

Aero-tax Compliance Experts, LLC asked:


Often it is believed that simply purchasing an aircraft outside of California eliminates the sales and use tax liability.  There is a half truth here; properly purchasing an aircraft outside of California does eliminate the sales tax obligation, however, it does not eliminate the use tax. 

Many people do not know how, or where to begin when going through the California sales and use tax exemption process.  The simple answer is that you must take delivery of the aircraft outside of California.  However, there is more detail behind the simple answer.  For example, the contract of sale (purchase agreement) must specifically reference the location where the aircraft will be delivered to the purchaser outside the state.  

As standard practice, we advise that the delivery occur in Oregon.  Oregon is the closest, non-sales tax state in proximity to California that will not have a jurisdictional claim for sales or use taxes simply because the sale occurs there.  Therefore, Oregon is often times the most convenient location.  However, it may not be convenient in every situation.  There are a total of five non-sales tax states:  Oregon, Alaska, Montana, New Hampshire, and Delaware.  Many other states have guidelines for non-resident purchasers taking delivery within their state without fearing tax repercussions.  Be sure you know the rules.

To properly evidence the delivery outside of California, you must maintain a clear separation between the seller and the buyer.  To accomplish this, the seller will be solely responsible for transporting the aircraft to the out of state delivery location, and the buyer will be solely responsible for getting to the delivery location independent of the aircraft they are purchasing.  It is recommended that the buyer travel via commercial airlines to generate and obtain confirmation of the travel to the out of state delivery location.  In addition, the buyer must not exercise any right or control over the property until after it is delivered (test flights are ok, but insuring the property prior to delivery could pose a problem). 

Once the seller and buyer have converged upon the delivery location, it is now time to execute the paperwork.  They will execute the FAA Bill of Sale, FAA Registration, any delivery receipts prepared by the seller and a proper delivery document for California sales and use tax purposes.  This is referred to by many in the industry as a “6247 statement.”  Beware, some tax representatives will charge you for this form.  This form when properly and completely executed and notarized will evidence the out of state delivery.  The insurance on the property can become effective as of this day.

Upon completion of the delivery, it is recommended that you immediately purchase fuel for the aircraft, using a credit card.  Doing so will generate a receipt that will contain the date, location, tail number, and the buyers signature.  Keep copies of all your documentation; you will need it to support your exemption.

The out of state delivery is only a small part of the exemption process.  There are many factors which come into play when the Board of Equalization is determining where the “place of sale” was.  They will look at the contract of sale, insurance binder, evidence of delivery, evidence how the parties converged upon the delivery location, FAA Bill of Sale, FAA Registration, and other pertinent information to develop their conclusion as to where the delivery occurred.  If there are conflicting dates, locations, or details, they may conclude that the delivery occurred somewhere other than where you intended, and classify your delivery as “ceremonial.”  This means your delivery may jeopardize the availability of the sales and use tax exemption from the onset.

real estate asked:


Real estate photography is a new, exclusive initiative to promote international property business to inspire by the theme Development, Nature and Architecture. Real estate photography leads to increased competition in the photographic market. Most of time people would likely visit their property for sale because of the attractive images.

Tips of good real estate photography

- A good source of light.

- Wide angle lenses make real estate photos appear spacious, inspirational and motivational

- Digital formats cut down on printing and developing expenditures and makes photos available immediately.

- Same images should be available in different sizes so that according to the specifications you can provide it.

- take a shot of every part of house for sale including living room, kitchen, dining room, and other parts of the house.

- highlight the best features of your house.

- clean the entire house before taking its photos.

- hire a professional real estate photographer.

Real estate photography is of following kinds:

- Standard real estate photography,

- Elevated pole real estate photography,

- Exterior twilight real estate photography,

- Interior real estate photography services,

- Real estate photography for builders and architects.

Real estate firms have totally booming nowadays. If you are a property agent, you have probably faced a lot of competitions. Over few older years, when all you require is a well written advertisement to sell a real estate. Currently in order to fully publish your listings, you need to attach a good real estate photographs. With the emergence of digital cameras, the realestate that you are selling can be photographed and placed online. Potential purchasers from different parts of the world can actually see your listings with the images in it. Don’t underestimate the value of these photographs because a purchaser can definitely decide to check out the real estate based on the pictures that you have.

Real estate photography makes the property images impressive. If you have a house which looks unattractive and you want to sell that but because of appearance no good investor wants to buy it. Through the technique of real estate photography you can make your house to appear better and most of the investors search online for real estate images to buy it. Based on recent estimations, the number of individual searching home for sale online has increased. Almost half of these property seekers found their dream property instantly online through the help of real estate photography. An image is worth a thousand words. Especially when your words may be limited by the Multiple Listing Service use real estate photography techniques to express your quality difference in properties.