You have already made the first step to a successful Polish property purchase by visiting our web site. Here we will list the various buying procedure options available.
Property types and actual purchase procedures.
Off Plan or new build apartments and houses.
All developers require a good faith reservation this is then followed by a brief cooling of period of up to seven days. Within the seven days a preliminary contract will need to be signed in the presence of a notary accompanied with a deposit of 5%, this then guarantees your property selection at the stated price. 25% of the purchase price is required within three months of the preliminary contract date and the balance on closing. If you will be requiring a mortgage for your purchase they make the payments on your behalf excluding the 5% preliminary reservation.
Secondary market, resale houses and apartments.
Most secondary market properties are sold by private owners therefore the buying procedure depends on the seller. Word of mouth and a handshake is not acceptable in Poland, the most common procedure to buy a secondary property in Poland is to offer the seller a deposit, this protects both parties from losing the deal by way of forfeiting the deposit. Once this has been finalised we will liaise between both parties to agree on the closing date and smooth out any issues along the way.
Historic properties, palaces, castles and farms.
The above mentioned properties cover a rather broad area in terms of buying procedure and the procedures for the buyer depend on the seller. If you are buying from the Government (which is likely to be the case with Palaces) you need to bid at an auction. In order to be accepted in the auction you are required to place a fully refundable deposit in an escrow account. Once this is in place you are free to bid away. All other properties are seller negotiable with the norm being a 5-10% deposit to take the property off the market.
There are two ways to purchase foreign property - site seen or site unseen.
Site seen
This option will entail visiting Poland on one of our individually customised inspection visits. We will be happy to show you all available developments and answer all of your questions face to face regarding Polish real estate issues. If you would like to partake in an inspection visit please contact us directly and we will be pleased to assist with flights, accommodation and transport to and from the Airport.
Site Unseen
If you do not have time to actually visit Poland to view the property you may wish to reserve a unit based on information which we provide. This strategy is most commonly used by high end investors interested in snapping up bargains as and when they become available. If you are interested in off plan developments it is unlikely that there will be a show home to look at, the only aspect covered by visiting the site will be first hand knowledge of location and a general feel for the location.
What are the costs involved for purchasing property in Poland?
1. Deposit
2. Agents fee (Poland-Direct)
3. Notary fee
4. Solicitor
5. Tax
The following figures are based on a purchase of 100,000 Euros.
1. Usually a flat charge of 2000 Euros is enough to reserve the unit of your choice
2.Poland_Direct charge a 3.0% commission for services, payable by 50% at contract and 50% on closing
3. The notary fee is between 1-1.5% of the purchase price with a maximum of 1000 Euros
4. Solicitors charge will generally amount to 1% over the course of the purchase
Office +48 (0) 748 103 060
Mob +48 (0) 691 212 084
Email sales@poland-direct.com
