Property sales are handled differently in different countries. In some, like France, property finders are commonplace and a widely accepted form of searching for a property. In the UK, they are best known in the corporate sector, particularly finding properties for corporate employees from other countries and focused, inevitably, in London.
Most property finders charge a fee, usually calculated as a percentage of the purchase price. This can as high as 2.5%, which is a substantial amount.
There are many advantages however to using a property finder service. They should save you both time and money and, most important, ensure you end up buying the right property, in the right place, at the right price.
Property finders in Mallorca
In Mallorca, properties are almost always listed with several estate agents. Despite what they might claim however, none have full coverage of the whole island, and there is a convention behind the scenes of referring from one agent to another. So it can sometimes get a bit confusing as to who you are dealing with.
Property finders in Mallorca vary from conventional fee-based companies to individuals who operate on a more casual, personal level.
Some estate agents also profess to provide property finder services. Beware though as they are obviously most likely to sell you on buying one of their properties in the location where they are based.
The longest established professional property finder service in Mallorca is MPP (Mallorca Property Partners). It is unusually in that it does not charge any fee. Instead they operate through a network of tried and tested estate agent partners from whom they take a share of the commission when a sale is made.
MPP has an impressive track record with outstanding references from past and current clients. They make a point out of getting closely involved at an early stage, focussing on ensuring there is a clear focus on getting the location right before looking at properties in too much detail. After all, a property that ticks all the boxes but is in the wrong location will turn out to be an expensive mistake. And localised estate agents have little incentive to tell you if you should be buying somewhere they don't have properties for sale.
Beyond this, property finders should help you in assessing a sensible offer and getting the property for as little as possible. They should also help with guidance and contacts, such as reliable and professional property lawyers, throughout the purchase process.
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