Procedure at purchase of real estate property

 

The purchase of real estate property is a process which consists of several stages:

 

The first and the most important stage is the finding of a property appropriate for you. Our experienced specialist will consult you and will select properties which you should inspect on the spot.

Request an inspection of real estate property here

 

After you have selected a property for purchase, a stop deposit should be paid, guaranteeing in this manner that the property desired by you will be reserved for you and will not be offered on the market any longer. An application will be filled up in conformity with a model form for reserving the real estate property in our office.

 

The process of supply with the documents needed for the transaction follows up. They in general are:

 

  1. A document certifying the right of ownership of the seller over the real estate property.

  2. A cadastre scheme of the real estate property.

  3. A certificate for tax assessment of the real estate property.

  4. A Power of Attorney if a Proxy participates in the transaction.

  5. An Heirs Certificate and documents certifying the right of ownership of the legator, in event that the property was acquired by inheritance;

  6. Civil Marriage Certificate if real estate property, which is real estate, held in joint family ownership, is assigned;

  7. Declaration of the Seller pursuant to Art. 226, Para.1 of the Tax Procedure Code – 2 numbers.

  8. Citizenship and Civic Status Declaration in conformity with a model form.

  9. If a legal entity participates in the transaction a Good Standing Certificate, a court decision for registration, Minutes of the Meeting with a resolution of the Management Body for acquisition / assignment of real estate property;

  10. Real Encumbrance Certificate a certificate for absence of encumbrances

  11. Certificate for Commissioning

 

NB! You may obtain detailed information about all the documents needed at the sale of real estate property by contract certified at a notary’s office here

  

The transaction is conducted before a Notary Public with region of practice related to the location of the real estate property. The sale by contract certified at a notary’s office shall be realized in the following sequence:

 

  1. The Notary Public shall verify whether the real estate property is located within his/her region of practice

  2. The Notary Public shall verify the identity, the efficiency and the representative power of the persons who appeared before him/her

  3. The Notary Public shall verify whether there are any legal obstacles for the assignment of the property available at hand

  4. The Notary Public shall get assured that the presented draft for a Notary Deed satisfies the legal requirements

  5. The Notary Public shall verify whether the Seller is the owner of the property

  6. The Notary Public shall read out to the Parties the contents of the draft for a Notary Deed and the Parties shall confirm before the Notary Public their declarations of intention reflected in the draft for a Notary Deed

  7. The Notary Deed shall be signed by the Parties and by the Notary Public

  8. On the day of the sale by contract certified at a notary’s office, the Notary Public shall present the Notary Deed in the Registry Service related to the location of the real estate property

  9. The Registry Judge shall order the entry of the Deed

  10. The Notary Public shall supply the Parties with a transcript of the Notary Deed