Some Tips to Buy Property in Split region of Croatia

Tips to Buy Property in Split
Investing in real estate in Split is at an all-time high. The second largest city in Croatia, Split is a spectacular urban space that offers something for every taste. Residing here offers the right mix of old-world charm and modern luxuries. If you are planning to buy a property in Split, here are some tips to make it easier.

1. Agent’s credibility: Make sure that you deal with a licensed property agent only. Ask them the company’s and their own license registration number, which you can check on the website of Croatian Chamber of Commerce. Check testimonials online and visit their office in person to see that the agency they represent exists not just on paper, but physically as well.

2. Hire an experienced lawyer: A good real estate lawyer in Croatia understand the complexities of the process of buying real estate there. Make sure your lawyer is registered with the Croatian Bar Association. Having the expertise of a competent lawyer becomes all the more important if the title deed is not clean as he or she will help resolve this within time.

3. Read the Pre-Contract: Go through all the clauses of the pre-contract thoroughly. It is a legally-binding document that specifies the following details:
● Terms of property purchase
● Price
● Schedule and mode of payment
● Date of settlement of Final Contract
● Penalty if either party withdraws after signing the pre-contract
Your lawyer will then prepare the Final Contract which is to be signed by the notary, followed by Land Registry.

4. Know your payments: As a foreigner, you can buy property same as Croatian citizen if you are citizen of European Union or a resident of the country that has a reciprocity agreement with Croatia. You will be required to pay 4% of property tax after purchase. At the time of signing the pre-contract, you are required to pay 10-15% of the cost of the property.

5. License to rent: Another set of legal regulations are to be followed and documented if you are buying the property to rent later. Ask your lawyer about the process to acquire a license for the same.

 

Added: 27.03.2018.

Category: CROATIA REAL ESTATE NEWS

 
ABOUT AUTHOR
Broker real estate agency

Ivica Vulić is real estate professional, director and founder of Broker real estate agency - one of the biggest Croatian agencies. Founded in 1993. Broker agency is well known on whole area of Croatian coast and islands helping people sell and buy properties. With over 25 years of experience Ivica is knowledgeable in all aspects of real estate business and latest trends and opportunities on Croatian real estate market.