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WHAT IS IMPORTANT FOR THE SELLER: After having decided to sell real estate object, the owner has to make an accurate evaluation the property on sale, in order to enter into market with adequate price, and not the one overvalued or undervalued. in order, to obtain objective real estate evaluation owner may contact real estate agency, which offers evaluation services prepared by skilled experts. when evaluating real estate agents pose special attention on some fundamental characteristics, and aiming to confer accurate opinion to the client, real estate agents compare the real estate object with those existing on the market and with particular attention evaluate the location of the object. the latter is the most influential factor in respect of the real estate value, then follow the planimetry, luminosity and quietness of the district, where the object is located. the distribution of the spaces has to be rational. the measurement of the apartment has very important impact on the value; if we compare small and bigger apartments according to the price of the square meter, we note that per square meter value of the small apartments is significantly higher than that of big ones. then, one has also take in account the availability of all the “supplements” to the apartment, such as cellar, parking place, garden аnd etc.
Once the evaluation is completed, all the documentation (including deed regarding provenance, planimetry, building limitations, permits of the municipality, documents confirming hypothecs) related to the real estate object has to be collected. |
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WHAT IS IMPORTANT FOR THE BUYER:
First of all, the buyer has to evaluate his financial possibilities and the necessity to apply for the hypothec.
It is very important to have clear ideas regarding the desired object, i.e. location, dimensions and etc. it should be noted that the buyer hardly finds the real estate perfectly matching his desires, therefore he has to be ready to make compromises.
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REAL ESTATE AGENCY:
Real Estate agencies, especially when we consider big cities, are fundamental not only for optimal representation of the marketed objects, but even more importantly - for correct lead during negotiation phase. it is professional duty to safeguard the interests of both parties and to inform them regarding all the available information, which could influence the sale. the commissions have to be defined in the beginning of the sale process; there are no legal provisions establishing the allowable rates of the commissions. in case of controversy, the uses and customs codified by the provincial commerce registry have to invoked. the agency has the right to start mediation, when preliminary contract is signed.
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NOTARY:
Generally notary is chosen and paid by the buyer. the notary follows the sale transaction starting from preliminary contract, controls the legitimacy of the origin of the object and checks if there are no related hypothecs. his honorary depends on the value of the real estate and the intention to establish or not the hypothec.
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SALE ASSIGNMENT:
when the sellers confers the assignment to the agency, he is also supposed to provide the description of location and state of the real estate. in the assignment shall be specified, if the object has related hypothecs or other burdenings. apart of that, indications regarding sale price, agency commissions and the length of the assignment have to be given.
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TAXES PAYABLE BY SELLER:
From 2002 the seller does not have obligation to pay the taxes. with exception of the case, when the real estate in the past 5 years had never become the principal living place of the seller or his family members. in this situation the seller pays capital gain taxes.
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THE PURCHASE OFFER:
usually purchase offer is edited on the standard form of the real estate agency. the offer has to include the characteristics of the objects, its price, terms and ways of payment, as well as, date within which to the buyer has to be introduced the seller. when the purchase expiry date comes offer loses its validity, and signatory parties are free from previously undertaken obligations.
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PRELIMINARY CONTRACT:
it is private written deed, by which parties mutually engage themselves in sale and purchase acts. it is advisable to entrust to notary the formulation of the latter deed and include in it detailed description of the real estate object, and the regime of its purchase and sale. as a rule, 20, 30 or even 100 percent of real estate sale value have to be deposited as a guarantee of the deal.
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NOTARY DEED:
it may come in the form of public deed or private authenticated document, by which the buyer becomes the owner of the acquired property. this document has to be signed by both parties in the presence of the notary, who later on proceeds for necessary procedures to deposit the deed in the real estate registries. only after transcription, new buyer appears as an owner of the property.
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TAXES PAYABLE BY BUYER:
if buyer acquires real estate from private person using “first home” tax concession, then registry tax amounts to 3% plus 336€ of fixed taxes, in case seller is entity vat taxes amount to 4% and fixed taxes to 504€. taxes are levied on the value indicated in the notary deed, in order to adhere to tax concessions it is not advisable to acquire luxury real estate and sell it after less than 5 years. if no tax concessions are applicable, then registry taxes are of 10%. vat amounts to 10% plus 504€ of fixed taxes.
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TAXES PAYABLE BY SELLER:
From 2002 the seller does not have obligation to pay the taxes. with exception of the case, when the real estate in the past 5 years had never become the principal living place of the seller or his family members. in this situation the seller pays capital gain taxes. |
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