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✪✪✪ ✎ EN Buying Property in Montenegro

Discussion in 'Montenegro' started by texkourgan, Aug 1, 2013.

  1. texkourgan

    texkourgan Moderator
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    Hello and welcome -

    Buying property abroad can be quite intimidating, even if you have lived in Montenegro as an expat for years! Some questions you may have…

    Can a foreigner buy property in Montenegro? If so, is it complicated? What is the process for purchasing property? Is there anything a foreign buyer should be especially aware of?

    Have you been through the process? What advice can you give to other expats in Montenegro looking to buy - either a home or an investment property? Do you have a check-list or tips you can provide?

    Thanks for sharing!
     
  2. Yuli_Blondie

    Yuli_Blondie New Member

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    Hi,

    I have recently moved to Montenegro (like 4 months ago) and I'm falling in love with this country. People are nice, the climate is awesome and the food is fresh. As everybody knows, moving to a new country is always difficult and buying property can be kinda risky. There are many real estate agencies and it might be confusing which agency to choose. However, I know one agency that can help you from your first steps till the last one. I know about them, as they have helped my several friends to find their apartments (and even 1 villa) in a very short time.

    The agency is called Belij Slon (http://belij-slon.com/) and they work in the following way.

    If you are abroad, you can just easily leave your request on the website and within 24 hours they contact you to discuss the properties you liked on the website or to gather detailed information about the property of your dream. If you like some variants from the ones they’ve showed you, but you are not in the country and want to make sure that pictures of the house match the real house, you can have a video chat with them and see everything online (my friend’s friend did that and saved a lot of time from going and seeing all the apartments, and when she came to the country, she just went to the one apartment she liked and started the process of getting her ownership).

    If you are in Montenegro, you can come to their office which is located in Budva and according to your needs they will find and show you the apartments you might like – free drive with free tour.

    When the apartment/house/land is found, they contact the owner to bargain about the price and they can get 5-10% off the price. The best thing while preparing documents for registration of ownership is that you don’t have to go or stress yourself – they do everything for you and they help you with your further life (can go to the bank to pay your bills – just give the amount they have to pay and the bills or can help you to solve the problems with bills/TV or Internet installation ect) – and their services are free of charge.

    When all the documents are ready, it’s time to sign them up. If you are a foreigner, you are provided with an official court translator who will be with you during the process of signing all the papers (translator fee is 50 euro/hour). When papers are signed, money you sign them up, pay the amount you agreed on and get the keys from your news house.

    This is how guys from Belij Slon work and I really advise you to contact them for more information if you need (tried to explain in the way I could, but maybe it was too chaotic). About other agencies, I don’t know.
     
  3. Cyrilexpat

    Cyrilexpat Moderator
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    Hello and welcome to EasyExpat.com

    Many thanks for all those explanations. :clap:
    Do you have any tips on the process itself? For example, is there any point to pay specific attention to?
    Is there a deposit to pay first and secure the purchase, and then the remainder to pay at the end? Or is it like in the UK for example, when even when your offer is accepted, you can withdraw at any point (and in some cases, fortunately rare, the seller can even raise the price)?
    In average, from the experience of your friends, how many properties did they visit before making an offer and how long did the process take before becoming owner?

    Many thanks in advance for your information and help. :thumbup:
     
  4. Yuli_Blondie

    Yuli_Blondie New Member

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    Hi,

    Thank you very much and I'm happy to be part of EasyExpat.com. :clap:

    Let me try and answer all your questions :)
    1. About payment: yes, first you pay the deposit to secure the purchase and because it's the part of the contract. Before you sign the contract, the conditions of the payment are discussed (e.g. the period when the buyer has to finish the payment, the way – transfer, cash etc.). When the offer is accepted, you can withdraw at any point, BUT if it’s the seller who withdraws – he has to pay double of the amount that has been paid or pay double deposit. If it’s the buyer who withdraws – the deposit that has been paid is non-refundable. :idea:

    2. The amount of properties: everything depends if a buyer has something specific in mind or not. One friend of mine found her dream house after checking like 4 houses, another friend check somewhere like 10 houses in different cities. Personally I loved the first apartment I saw and I moved into it. :thumbup:

    3. The length of the process: documents preparation and signing the contract normally takes 1 week and the buyer becomes and owner after the whole amount of money is paid and all the documents are in order (normally no longer than 2 months, but sometimes it can be longer due to the fact that the buyer and the seller live in different countries and sending the original copies of different documents can take time).

    4. And tips: to come to Montenegro and you would not want to leave this place. And if you need any help to buy a property here, the real estate agency Belij Slon and I can help! :D :wave: :thumbup:
     
  5. Cyrilexpat

    Cyrilexpat Moderator
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    Great, many thanks Yuli_Blondie. I hope it ill help expats to buy properties in Montenegro.
    Don't hesitate to participate and share more information.
    See you soon on the forum :)
     
  6. Lada

    Lada New Member

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    Hi

    I am buying a property in Montenegro and plan to settle here for the nearest future. Where i have to register as a UK citizen and what docs i have to provide for that? Will be really appreciate with all information especially if you can share your experience.
     

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