How to buy property in Poland? The main steps of real estate purchase.18+

Hi everyone,
Today I am going to share with you the procedure of real estate purchase. The First step is to find a real estate 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. 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.

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