How to buy property in Poland? The main steps of real estate purchase.18+
Channel: Oruga Group - Corporate Law & Investment Services
Date: 08/11/2018

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Hi everyone,
Today I am going to share with you the procedure of real estate purchase.

The First step is to find a #realestate property you want to purchase, of course.

Second is to decide whether you want to pay with cash or rather source #investment with a loan. For the tips of taking a loan when purchasing a real estate in #poland , we have talked about in our previous video, you can watch it from the link down below. https://youtu.be/w8A5BOkYtn8

The third step is to finish a due diligence of the property to secure the deal.
If there is a #mortgage , loans, servitudes or some other debt instruments on the property, it should be solved before the property is purchased. For example, without a lending bank’s acceptance, mortgage cannot be paid or deleted from the property’s record.

If you pay with cash then there are also two ways of closing a deal - one time payment and signing a final purchase agreement or splitting it to two steps: signing a preliminary agreement first and paying a deposit and after that signing final agreement
with payment of a full property price. You should go for a preliminary agreement if you want to get a loan or for example in certain cases when you need to transfer money from another country.

For bigger investment deals full property payment for the purchase is usually deposited at the notary, so-called notary deposit or at the special bank account. It is done this way because by polish law you cannot sell the property in condition, as soon as the purchase contract is signed by both parties in a form of notary deed, there is no way back and the buyer becomes a real estate owner even if he didn't pay.

Thus preliminary agreement can be signed in condition.
Also an obligatory form for a real estate purchase is a form of notary deed. Preliminary contract though can be signed both in a written form or form aof a notary deed.

After the real estate property is purchase changes to the property record called Księga Wiweczysta should be sent of the property to have a record, because not all the preparies have it.
In Poland, real estate purchase in general goes this way. Hope you enjoyed the video. Contact us to get even better advisory of real estate purchase in Poland from down below.
See you next time.

#investmentinpoland #businessinpoland  #realestateinpoland 

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ORUGA GROUP is a law firm and expert of foreign investments in Poland. We provide complex legal services of company registration in Poland and other EU countries.
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On our channel "Oruga Group - Corporate Law & Investment Services", you will get to know about: investments in Poland, where to invest your money, how to start a company in EU, alternative properties in Poland and some ideas about starting a business.