The IbEconomy news portal has published recently an interview with the director of Bufete Mercadal, Francisco Mercadal, talking about the activity of the company and its corporate culture. We share it with all of you in our blog, hoping that it is of your interest.
The lawyer Francisco Mercadal is the General Manager of the law firm ´Bufete Mercadal’, located in Palma with coverage all over the Balearic Islands. He leads the legal assistance in real estate operations with a transversal focus; purchase-sale, rentals, assistance to promoters, constructors, real estate agents and other participants in the real estate transactions.
Bufete Mercadal, located on the entresuelo A of number 17 in Jaime III, will move to a new office in number 7 of the same street after the summer. Francisco Mercadal explains that “we need a bigger office in order to improve the working conditions of our employees and to enhance the quality of the services we offer to our clients”.
How do you decribe your company? ¿What is Bufete Mercadal and the services you offer?
Bufete Mercadal is a law firm that offers legal assistance with a special focus on Real Estate Law, Family Office and Community of Owners. Our mission consists in offering our customers the guarantee that any transaction will be done with transparency, effectiveness and efficiency for his interests. We want our clients to be comfortable leaving all their issues about their properties and interests in our hands, because we will treat them as they would be ours, focusing on the details. This is our culture.
When a person or a company wishes to purchase a property it is important to know exactly if it is free of encumbbrances; if the renovation works have been executed upon the legal requirements; the taxes that have to be paid for the transaction… Check, verify and report our clients at any time about any issue is part of our responsability.
You have to consider two points. The purchase of a property is something you normally will not do severval times in your life and you ussually need a lot of own or family ressources. This is the reason why everything and any little detail has to be perfect. You cannot leave to chance to anything. We don´t like surprises, neither do our customers. And the second point, in case of our foreign customers, they need a professional partner they can trust in with knowlegde of the local legal requirements. They same as for us if we would buy a property on a foreign country or managing any kind of burocratic transaction we do not know about the legal requirements.
Your customers are mostly from abroad…
We also work with local clients and with customers on the Spanish mainland but the mayority of our portfolio is from abroad. Germans, British, Swedish, Dutch, French, North Americans… At Bufete Mercadal our team –we are already 8 profesionals- is specialized in reviewing every simgle detail of any transaction and is prepared to assist the customers in their mother language.
¿What are the most frecuent questions of someone who wants to purchase a property?
Most of the questions of the new owners are about the tax and urban issues. ‘is the swimming pool legal?’, or ‘how much do I have to pay for taxes by the moment of purchase? ‘And afterwards?’. These are some of the common- and logical- questions.
¿How does Bufete Mercadal make the differece to the other law companies?
Bufete Mercadal is specialized in legal assistance, Real Estate Law of any kind, Owners´ Communities and Family Office. Our services means total identification and constant conversation with the customer. We do not use standards. The service is taylored, each transaction has its specific caracteristics and it is necessary to study every detail. And the customer must be aware of the progress of the transaction at any moment. We prefer to explain too much, rather than being the client to ask us for the information because he does not know the status of the situation. This culture about the detail and the customer orientation are two of the most important differences of Bufete Mercadal with other competitors.
Can you describe the Anglicism ‘Family office’…
This is how we call the Management of a family wealth. Bufete Mercadal is specialized in assistance to families and or parts of a familiy unit in order to optimize their personal and common ressources. For example, our studies reveal which are the best options for a person or familiy who pretends to increase or maintain –al least manage- its wealth.
What kind of operations respresent the more complicated ones?
Reviewing all the information necessary for the purchase of a property is hard work. But we always reach our goals. For this duty we work together with architects specialized in this field.
As an expert in this field, ¿want do you think about the Vacation Rental?
The Government is on the way to approve it and currently there are lots of movements and pressure from some groups. We will have to wait some time although some clients already ask if they can rent or not. Another factor will be the role of the Community of Owners in this issue. We hope the new regulations will bring solutions because this economic activity needs to be regulated and the owners need to know without any doubt what is allowed and what is not allowed.
¿Which are the most popular geographical areas of your current transactions?
In the last months we have assisted to a significant increase of deals, sales and rentals in Palma, eventhough the big deals are still in Calviá, Andratx, Pollença, Ibiza… We also haver relevant transactions in rustic soil in different areas of Mallorca.
Francisco Mercadal (43) is General Manager of his own law company. A lawyer and…
passionate about his profession, always working in the details of the transactions, transmitting confidence and trust to our clients. On the personal side, I am an active person trying to enjoy everyting I do. I practice ‘pilates’, I like doing sports –whenenver I can-, modern art, travelling… Visiting new destinations and other cultures helps me to appreciate what we have, giving sense to the important things of life.