Real Estate buying guide for Montenegro
Due to strict and formal law procedures, buying property in Montenegro can be very simple and straight forward procedure and we as a professional consultants in real estate area can help you organize ownership transfer procedure to be done as simple and time and cost effective as possible.
To confirm our commitment, we have developed our buying guide that covers all the relevant information that a buyer needs when buying a property in Montenegro. We are focused on shopping, legal and tax issues, and costs.
I Real estate selection
We will create a specific portfolio that meets your requirements for price, location, size, type of property and others of your choice.
II Sightseeing real estate
Property tours are an important but enjoyable part of the buying process, and our agents will take good care of you during your tour. We are happy to offer you to experience this part of the buying process for free and gain a personal impression of the property.
III Negotiation the price and conditions
Once you find a property that meets your needs, the next step in the process of buying a property is to negotiate the price and terms of purchase acceptable to you and the seller, with our help.
IV Signing a reservation contract and leaving a deposit for real estate reservation
If the seller and the buyer agree to the terms of the sale, the client will usually sign a standard reservation agreement and make a deposit (usually 3,000-5,000 euros) to exempt the property from the market.
V Signing a sales and purchase agreement
Signing sales and purchase agreement must be done in accordance with strict procedures and before the notary. Even that we do not offer real estate that does not have completely clear ownership documents, notary also double checks all the paperworks and makes sure that ownership can be legally transferred. If the buyer attends the signing of the agreement and does not speak the Montenegrin language, the presence of a court interpreter mandatory. The translation fee usually costs 50eur per started hour.
Costs when buying a property in Montenegro to be paid by the buyer:
- Notary fee for certification of the main sales contract
0.00 – 5,000.00 = 70 €
5,001.00 – 20,000.00 = 120 €
20,001.00 – 40,000.00 = 170 €
40,001.00 – 60,000.00 = € 250
60,001.00 – 80,000.00 = € 300
80,001.00 – 120,000.00 = 350 €For a property worth more than € 120,000, for each price increase of € 15,000, the fee is increased by € 10. The highest notary fee is € 5,000 with VAT of 21% excluded.
- Real estate transfer tax in amount of 3% of the market value of the property.The costs of the agency commission are borne by the seller.The translation of these documents is performed by a certified court translator. The average price per page is approximately € 20, depending on the number of characters per page;A standard contract is usually written on 5 pages. Any additional changes to the contract requested by the customers are also charged. Usually the total cost of translation is calculated between € 100 and € 200;