Purchase of Real Estate-Law Office Belgrade Knezevic
Attorney at Law, for buying of real estate, Law Office for real estate etc. These are the most common phrases you type in Internet browsers when you finally find a flat that suits you. This means that you have come to the final stage of the realization of buying your new nest.
Contracts for the sale of real estate are contracts that must be in writing and certified (solemnized) by a public notary. So, you (or a lawyer for you) make a contract, and the public notary certifies it.
If the apartment is not sold through a real estate agency, when the amount of commission can be several thousand euros (3% of the value of the property), then hiring a lawyer and professional legal assistance is the best and most economical solution for you.
What is important at the beginning is that the lawyer checks the entire documentation and that there is a legal continuity of ownership, if the seller is not registered as the owner of the real estate being sold. Also, we always advise the clients to obtain from the Real Estate Cadastre a recent list of immovable property, dating a couple of days before the date of conclusion of the contract, in order to see if there are any encumbrances on the real estate.
The conclusion of a contract for the sale of real estate may be preceded by a pre-sale contract for the sale of real estate. If the pre-sale contract is concluded, it also must be certified by the public notary, as well as the main contract. The main contract is made on the basis of the pre-contract, and it is very important to compile a good pre-contract. A good pre-contract, before all, means that both the buyer and the seller are protected, i.e., that neither party is in any way deceived or damaged.
There are certain differences in terms of pre-conditions, depending on whether the real estate is purchased through a bank loan or in cash.
PURCHASE OF APARTMENT ON LOAN
If it is a question of buying and selling real estate through a loan, it is obligatory to conclude a pre-agreement in which certain specific provisions must be stated. This means that the amount of the down payment must be determined exactly, as well as the amount of the participation in the loan, the consequences in case the loan is not approved, etc.
What is also important in practice is that, before notarizing the pre-agreement with the notary public, the draft pre-agreement is agreed, in addition to the contracting parties, with the bank applying for the loan, having in mind the specifics of loan approval conditions of each individual bank.
When the bank approves the loan, and that period depends on the bank (from our experience, it can take more than a month), the final phase of the realization of the purchase-assembly and verification of the contract on the sale of real estate is approached.
Law Office Knezevic represents the clients in procedures of purchase of real estate, so please do not hesitate to contact us.