Buying a finished property is relatively easy, but to build a new building It is necessary to adhere to a few rules.
For the beginning, the owner, together with the developer, establishes a payment plan.
The plan depends on the individual progress, and will be paid in installments.
- Negotiate a price that is acceptable to you and the Building company
- Security deposit a security deposit on the property usually about 5000 – 10.000 euros, and sign a reservation agreement with the owner of the property.
- Improve a lawyer (licensed in Montenegro) to act on your behalf.
- The terms of the purchase contract are negotiated and the construction plans are approved by the construction company and you or your plenipotentiary.
- The contract is signed by you or your lawyer with a notary in Montenegro.
- When signing the contract, the first agreed payments are generally due.
For example, the payment plan can be designed:
- 30% preliminary contract (less deposit)
- 30% shell completed
- 30% roof complete
- 10% Purchase agreement and usage permit
Once all the work is completed, you or your lawyer will be signed a notary in Montenegro
- Papers are submitted to the local land register
- The property is then registered in your name
- As a rule, there is no 3% purchase tax for a new building.