bed prop bath plot pool tick select sleeps heart star
You are here: GHL IBIZA Real Estate Agent >

4 closing mistakes to avoid when buying a property in Ibiza

Valuation 3

4 closing mistakes to avoid when buying a property in Ibiza

Congratulations, you are just one step away from buying your dream home in Ibiza! But while you can now breathe a sigh of relief, just remember that there’s no deal done until everyone signs the dotted line.

Make sure to check these useful tips to avoid the most popular closing mistakes when buying a home in Ibiza.

Don’t forget about the added costs.

When you buy a house in Ibiza, it isn’t just a matter of paying the selling price and then the mortgage payment. There are also maintenance costs, utilities (which will likely cost more) and property taxes that you should take into consideration. In a previous post, we look at the real cost related to buying a property in Ibiza.

Your debt to income ratio matters.

The balance between your monthly income and monthly debts is one of the main factors that your lender will take into consideration when qualifying you. Your lender will probably run your financials two or three more times before closing. While it’s tempting, don’t take out any other big loan until after closing. Keep in mind that the bank looks at lease payments like any other debt payment which may affect your position negatively!

Don’t change your job.

Stability is key if you want to get a mortgage. Switching jobs right before closing can make your lender anxious, and you want to give them every reason to feel confident. Most lenders prefer to have a two-year job history in hand, so making a big career move could slow things down, or squash the deal entirely.

Don’t be late.

Even if you are going through a tough time and life’s hectic, make sure to keep up with your payments. Late payments can affect that all-important credit score and affect negatively your position.

Wondering what else is involved in the final stretches of a home purchase? GHL is happy to answer all your questions. Get in contact now.

Other interesting articles

Type of Mortgages in Spain

Before buying a property in Ibiza, it’s important to be aware of any difference in Spanish mortgages and the buying…

5 Basics Every Rental Contract Must Include

If you’re looking to rent a property or you are an Ibiza property owner thinking to rent out your property…

Documents you must have before selling your house in Ibiza

You want to sell your property in Ibiza but you are not sure about the essential paperwork that you need?…

Building or Renovating an Ibizan Farmhouse

If you’re thinking of buying a traditional Ibiza finca, you should consider the following points. Buying a traditional type of…


This is what we might call a 21st century version of the printed catalogue that we can find in any real-estate. The idea behind is the deeply-rooted eco thinking of Gould, Heinz & Lang. We are keen on reducing footprint and thus invest in alternative options and embrace the digital world!

The App features our client’s luxury villas and is available from all of the various App stores, in all formats and is downloadable free from all platforms and for any device.


Both our offices are located right in the heart of the island, in Santa Eulalia and San Juan. Our prime locations provide easy access to all our customers. We are always happy about your visit and we would like to introduce you to our portfolio.


GOULD HEINZ & LANG – Paseo s’Alamera 11
07840 Santa Eulalia, Ibiza, Spain
+34 971 339 305



GOULD HEINZ & LANG – Plaza Major
Sant Juan, Ibiza, Spain

Newsletter Offers,
legal advice & lifestyle
Newsletter iPad