When you have decided on the object and are ready to complete the deal, you need to discuss the payment terms.
The first payment for the investor is a non-refundable deposit that the buyer makes to take the property off the market. The investor receives a receipt, then this payment is recorded in the contractual relationship as part of the payment.
After signing the contract, the first payment must be made and stamp duty must be paid. To complete a transaction and pay duties, it is not necessary to pay the entire amount: our clients import cash (no more than 10 thousand euros). From this amount, consultation and stamp duty are paid, the remainder is the first instalment for the property itself. The contract is registered in the land registry.
On the concluded agreement basis, the buyer makes a bank transfer from his home country to the seller’s account. The payment procedure is spelt out in the contract.
An alternative option is the ability to pay with a bank card, the commission size is about 2%.
If you instruct a lawyer to conduct the entire transaction, the first payment is made by bank transfer: after the contract conclusion within 15 days. Further under the contract. You do not need to provide proof of income.
Having paid in full, the investor receives the title to the property.