PURCHASE PROCEDURE

The purchase procedure can be broken down into the following 4 stages :

Fiscal :         This ensures that your potential investment is not only registered but free from charges.

Legalities :    A lawyer will seek from the Court a Certificate de Sarcini which attests whom is the legal owner and any burdens that have to be discharged before completion.

Contract :     A Notary will draft your contract for signature and attestation

Registration : Similar to Ireland & The UK all property transfers must be registered with not only Land Registry but also the Court within  28 days

LAND PURCHASE

For a foreigner to purchase land in Romania they must form a company in Romania.This process costs approximately 700 EURO + VAT 19 %.

IMOB SHOP also offers this service to clients.

LAND REGISTRY

Land Registry is similar to that of Ireland & The UK in that your title deed must be checked so as to disclose any charges, burdens or court orders pertaining to the property.

This must then be contrasted with what is referred to as a Cadastral Certificate which is a written and graphical plan of what you are in fact purchasing. if it is not in the plan you will not receive it upon completion.

In addition we recommend you examine the properties annual tax receipt not only to ensure that there are no arrears , but to give you an idea as the rate of tax the property is subject to.

COMMISSION

How much are you paying the agent commission? "Not much"  is a common response.Not only do we advise the obvious to find out exact detail but also clarify in writing because what you will be told is maybe 900 EURO which is very reasonable, but when you go to pay you are told you did not understand it was in fact 9000 EURO! We charge 3 % which is clearly stated on all our contracts.