Montenegro attracts a huge number of tourists with its picturesque nature and rich history. Some people fall in love with this country so much that they decide buy a villa or apartment in Montenegro and move here permanently.
So, if you have already chosen real estate, which you want to purchase, you can sign the main or preliminary agreement (preliminary - in the case when it is required to fulfill certain obligations from one of the parties before signing the main agreement). The contract fixes all your obligations as a potential buyer, and also describes the acquired property, indicates its cost and payment nuances. You must also pay the so-called reservation fee, which is 5-10% of the value of the property. If suddenly you decide to refuse the transaction, it will not be returned to you. And if the sale and purchase operation fails due to the fault of the property owner, he must return to you the amount received in double size.
To carry out transactions with real estate in Montenegro, you must have a passport, and its owner must have a Leak of Integrity, that is, a certificate of ownership. This document describes the property in detail, indicating the footage, land area, information about the owner and cadastral number. In addition, it contains data on all restrictions and encumbrances, if any.
The conclusion of both preliminary and main agreements (osnovni ugovor) must take place exclusively on the territory of Montenegro. It is carried out in the presence of two parties or their authorized representatives. Signatures must be certified by a notary seal. If you are purchasing an object from a developer, you do not need to pay tax, and if you are purchasing a secondary home, then you will need to pay 3% tax on the value of the object, which is specified in the sales contract. After paying the entire purchase amount, the notary sends documents to the cadastre for re-registration of ownership. From this moment you are the legal owner of an apartment or house in Montenegro.
