Property Buying Services in Montenegro
In Montenegro, foreigners looking to purchase properties are subject to specific legal practices governing ownership. The government has established a comprehensive set of rights for property owners through the Law on Proprietary and Ownership Rights.
While foreigners can indeed acquire property in the country, distinctions exist between the rights granted to foreign property owners and domestic ones. For instance, foreigners are restricted from owning properties near land-border areas, forests, agricultural zones, or areas of national security importance. Nonetheless, there are methods by which the government permits such ownership.
However, to fully access the rights inherent to property ownership and to ensure the acquisition of a property that aligns with your intended rights, collaborating with a local real estate agency in Montenegro is highly advisable. These agencies offer a range of essential services both during and after the property purchase, yielding the best possible outcomes.
Diverse Property Purchasing Services Offered in Montenegro
Should you choose to collaborate with a Montenegrin real estate agency, you can avail yourself of numerous services catering to various aspects of property acquisition. These services encompass negotiating property prices and sales conditions with owners, as well as facilitating the engagement of a suitable lawyer.
Pre-Purchase Services Are Important
Your chosen real estate agency is equipped to provide several critical pre-purchase services, ensuring a well-informed property acquisition process.
● Firstly, they can assist in obtaining an extract from the Land Registry, locally referred to as the ‘katastarska skica’ (cadastral sketch). This extract furnishes essential information concerning the land, property structure, and governing regulations. In areas where Land Registry information is unavailable, the agency can help by procuring a Municipality Sketch.
● Agencies also perform due diligence to verify the accuracy of existing title deeds, an essential step that should not be overlooked.
● When considering the purchase of an off-plan property, it becomes imperative to ascertain that local authorities have granted the necessary development approvals. The agency can assist you in verifying planning permissions from the town hall, referred to as ‘dozvola za projektovanje’ (design permit) in Montenegro.
● Similarly, when acquiring property within the country, securing the Use Permission is essential. Issued by the town hall, this permit can prove challenging to obtain without proper guidance. Here, the agency plays a pivotal role by conducting property checks, compiling requisite reports, and assembling essential documents.
● Agencies extend their services to encompass an examination of records pertaining to property-associated liabilities. These encompass tax calculations, fees, and anticipated expenditures, providing a comprehensive understanding of post-purchase financial obligations.
● Conducting a property survey is another valuable service offered by real estate agencies. Through this, they assess the property’s value vis-à-vis comparable options in the market, ensuring an informed purchasing decision.
● Moreover, your real estate agent will support you in preparing, reviewing, and executing a preliminary contract with the seller. This assistance proves especially beneficial if you’re not proficient in Montenegrin, guaranteeing comprehension of the contract’s intricacies. ■