What is important to know before buying real estate in Croatia?
Before looking for real estate in Croatia, whether it is buying a house, apartment or land, you need to check your financial capabilities in order to define the exact budget. If you are not a citizen of the Republic of Croatia, and you need financing, we recommend that you explore the possibilities of financing in your own country, given that banks in Croatia very rarely and exceptionally grant mortgage loans to foreign citizens.
Once you know your financial capabilities or have defined the amount you are willing to invest in real estate in Croatia, we recommend that you choose an authorized real estate agent. Unless you are very familiar with the area and real estate market and legal regulations in Croatia, helping to find the right property and experience and knowledge will really save you a lot of time and prevent possible mistakes. You can leave the entire organization of the real estate tour, and later all the formalities regarding the documentation to your agency, ie the real estate agent. Before making a decision and paying, it is very important that you take into account the following:
1. Check the documentation
If you are not an expert yourself, we definitely advise you to leave the in-depth inspection of the property to your real estate agency and / or your lawyer. When buying a property, it is necessary to check the excerpt from the land register from which the ownership and the existence of possible encumbrances or records on the property are visible. Depending on the type of property, as well as its age, it is desirable to check the building permit, use permit or decision on the derived condition if the property is legalized. There are many other things that are important, such as access roads, demarcation, easements…
2. Costs of buying real estate in Croatia
Theprice of real estate in Croatia is not one thing you should pay attention to when buying real estate. The buyer in Croatia, as in most other countries, has additional costs when buying real estate that need to be covered. Usually these costs vary from 5 to 8% and consist of real estate transfer tax, agency brokerage commission and legal costs. You can read more about costs here.
3. Professional management of the sales process
The process of buying and selling is in principle very similar in all countries of the European Union, but each country has its own laws, specifics and customs to which participants in real estate are accustomed. In order to make sure that the process is conducted in compliance with Croatian laws and to ensure that you will be registered in a timely and valid manner as property owners in Croatia, our recommendation is to hire a professional and educated person to conduct sales. This can be an authorized real estate agency, a lawyer or a notary public.
You can read more about the buying and selling process here.
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