Offers and reservations

Offers

With us, you can follow and participate in ongoing online bidding rounds. Offers are best communicated via the button in the online property presentation. As offers are non-binding, interested parties are not normally invited to participate, so "first come, first served" principle is common. Keep in contact with the agent if you wish to be notified of offers on properties. Make sure you don't put offers on several properties at the same time, as this could be perceived as frivolous.

Confirmation

Between bid acceptance and the binding purchase agreement, it may in some cases be practical to enter into a pre-reservation agreement with the agency. The agency will then be taking the property off the market so that no one can place a higher offer until the binding purchase contract is signed by the parties.

Reservation

Once the mortgage brokerage has the necessary information about the transaction, you will receive a transparent solid agreement (ARRAS) between buyer and seller. Our agreements are written and presented in Spanish and English, so you understand everything. Once the parties have signed, and you have paid the down payment, usually 10%, the deal is binding for both parties.

Money transfer

RE/MAX UTLAND uses a secured client account directly with the public notary. Here the transaction is controlled, liens are cancelled, and the property is registered into the new owner. Our legal department and settlement office ensure that no one has access to your money until the handover.  

Transfers

If you are not on the island at the time of the purchase, we offer assistance to make sure everything goes smoothly, no matter where you are in the world. Read all about power of attorney, notary and apostille.

Cancellation

If the home sellers break the agreement, the seller must pay you compensation, and if you break your obligations, you lose the reservation payment. If you need more time than agreed to carry out the transaction, remember to notify the agent in good time, and we will do everything we can, so you don't to lose money.

Questions about the purchase process or the costs?