Property purchase transactions, fluctuating markets and competition necessitate speed within this sector, according to Pelayo de Salvador, who runs the real estate law firm desalvador.
To adapt to this reality, Pelayo insists on the need for technology. “As we work mainly with non-resident clients, we understand that technology has a very relevant role: on the one hand, it brings us closer to our clients (using digital inbound processes, offering the possibility of booking a video call with us), and on the other hand, it allows us to offer legal security with digital signature processes for greater agility and, finally, it allows us to focus on the aspects that bring real value: legal knowledge applied to property reviews and legal clauses. Our intention is to do business at the client’s pace, but to always be as agile as possible,” says de Salvador.
Mallorca, a Cosmopolitan Destination
Salvador’s in-depth knowledge of the real estate market highlights the uniqueness of the Mallorca market. He considers it to be very attractive due to its cosmopolitan nature, its enormous connectivity – including the US market and shortly Asia – and its wonderful climate, boasting a huge number of sunny days throughout the year.
Pelayo upholds the added value of his work: “When you buy a property, you fall in love with what you see, but you have to be very careful, because in addition to bricks you buy papers and rights.
Our work consists of bringing the legal situation to light so that the client can buy with security. Sometimes you think you are buying a property with a swimming pool, but if the property has parts that are out of order, you have to know that you will not be able to fix it within the law. This can affect the purchase value,” explains the lawyer.
Knowledge Across the Board
When talking about his speciality, he points out the importance of transversal knowledge: “For me, real estate law encompasses all branches of law, from civil to urban planning, without overlooking administrative, fiscal and even criminal law. It should be borne in mind that illegal building work on rural land can carry a penalty of up to 300% of the work carried out, but it can even be considered an urban planning offence punishable by prison”.
“When acquiring a house we normally only look at the physical side, but we also have to look at the civil aspects -civil ownership, occupants, litigation-, registration aspects -ownership, description, charges-, cadastral issues- description, tax valuation-, town planning -whether it is legal or not, etc.
Our job is to accompany the client by the hand, providing certainty and legal security, from the moment they choose the house to the moment they are given the keys, and for as long as they own the property.”
Text by Miguel Ángel Vicente de Vera | Photos by Sara Savage