On this page you will find our general terms and conditions. This establishes the rights, obligations and costs for both buyers and sellers of real estate.
General Terms and Conditions
La Palma Casas
Binding conditions
Binding conditions
Data Protection Act
La Palma Casas, as an intermediary, respects the confidentiality of your personal data. In compliance with Law 15/1999 and Royal Decree 1720/2007, we inform you that when you contact us, your data will be incorporated into our database. In case you need to modify your data, please contact us at info@lapalmacasas.com.
Order
La Palma Casas, as a real estate agency, acts as an intermediary for the purchase and/or sale of goods and real estate, between buyer and seller. A commission will be charged for this intermediary work, which results in a sale and purchase. In case the buyer and seller, as a result of our intervention, contact each other directly, La Palma Casas remains entitled to the commission as an intermediary.
Conditions for the seller
The current clauses are binding for our order. In case the seller decides to withdraw the property from the sale, he is obliged to pay a penalty, amounting to 0.1% of the purchase price. Changes of purchase and sale prices as well as any other changes should be notified directly to La Palma Casas.
Sales fee
When an agreement for the sale is reached, a commission of 3% is due, with a minimum of 1,800 € (I.G.I.C. excluded). If, due to circumstances, it is necessary to make a purchase option contract, 2/3 of the total commission will be paid at the time of signing the contract, and the other 1/3 at the time of signing at the notary’s office.
Conditions for the buyer
The current clauses are binding for our order. If the buyer changes his mind or wants to rectify his order, La Palma Casas must be notified directly. All offers are based on information provided by the owner or other available sources and are subject to possible errors. When an agreement is reached, La Palma Casas will take care of all the documents, certificates, etc. in order to formalize the sale at the notary’s office.
Buyer's fee
When an agreement for the purchase is reached, a commission of 3% is due, with a minimum of 1,800 € (G.I.I.C. excluded). In the event that, due to circumstances, it is necessary to make a purchase option contract, 2/3 of the total commission will be paid at the time of signing the contract, and the other 1/3 at the time of signing at the notary’s office.
Foreign Identity Number (N.I.E.)
The key to all your transactions
To buy a house (non-residents in Spain) you must have a N.I.E. number, your fiscal number. We offer the service of helping you with this procedure, which can be requested at the National Police Station in Santa Cruz de La Palma, after making an appointment. Ask us for more information.
Purchasing process
Your wishes
The first step in the buying process is to develop a wish list regarding the new property you wish to purchase. This wish list is a useful tool for a quick and targeted search for your dream home. Criteria to be considered include:
- What type of property am I looking for?
- Which area do I prefer?
- What additional services do I need?
- Etc.
With this wish list, we can work together to find the property of your dreams.
Visit
Once we have created a selection of properties of interest to you, we can arrange appointments for viewings with owners or other real estate agents. During the visit, you will check if you feel comfortable with the house, while the real estate agent will draw your attention to all the technical aspects of the house. If you are still enthusiastic after the visit, the real estate agent can continue researching for you. This research consists of the following aspects:
- Study of the environment.
- Consultation of the General Management Plans.
- Investigation of the property.
- Verification of the fiscal and legal status of the property.
- Etc.
Negotiation
After this research, your agent will advise you on all aspects, giving you an idea of whether the investment makes sense and whether you will not encounter any unpleasant surprises. If you decide to buy, your agent will contact the seller to start negotiations. During these negotiations, your agent will keep you informed at all times.
Expenses
Buyer's expenses on the purchase-sale on La Palma (2024)
The costs to be borne by the buyer amount to approx. 10% of the purchase price of the property. An example, based on a house of 200.000,- Euro.
- Price: € 200.000,-
- Commission (3%) € 6.000,-.
- I.G.I.C. on commission (7 %) € 420,-
- Notary (approx.) € 1.250,- € 1.250,-.
- Registration in the land registry (approx.) € 500,-
- Registration in cadastre registry (approx.): € 250,-.
- Transfer tax (6.5%) € 13.000
- Total € 221.170.-
For each property, we will provide you in advance with a summary of the applicable costs.
Registration with the electricity company and connection to the water mains: free service provided by La Palma Casas.
Supplies
Registration and supplies
Further assistance (often not standard on La Palma) includes the correct registration of, for example, municipal taxes (property tax, garbage, sewerage fees, etc.) so that everything is correctly registered in the name of the rightful owner. If necessary, a power of attorney can be drafted to authorize an acquaintance of yours or us to handle matters without your presence, optional.
The land registry is the main register where your new purchase must be registered. The registration in your name is done through the notarial deed of sale, normally the notary will take care of it telematically. On the basis of the deed of sale, you can also modify the cadastre so that the property is correctly registered in your name also in this database. There is still no total coordination between the two registries, so there are still different owners in the different registries. But don’t worry, before the transfer, we will make sure that everything is correct.
Water
There are several water supplies on La Palma. The springs and water galleries are mostly found in the mountains distributed throughout the island, the so-called “nacientes” and “galerías”. Various products are generated from these springs:
- Town water, which is treated (chlorinated), requires the presence of a municipality water network to connect.
- Water from galleries, used for agriculture, through water rights that entitle the holder to a certain amount of water per unit of time. A private storage tank may be required, depending on the supplying company. These water rights can be leased and/or purchased. Purchasing, especially in the northwest, can be expensive.
Electricity
We also have contacts for this service, both for a conventional connection and for the installation of solar panels. From our own experience, we can say that this last solution is very interesting and allows to reduce the electricity bill by more than 60%.
Internet
Today, Internet technology has advanced considerably on La Palma, fiber optics are available in many parts of the island, including outlying areas (speeds of up to 1 Gbit are possible through certain providers). In areas where there is no fiber optic coverage, there are other alternatives such as satellite internet. We can advise you which company is interesting and what options each provider offers.