Author: Jelena Kravoščanec Todorović, director

For most people, buying property represents the largest financial decision they will make in their lifetime. In order to facilitate the planning of your path to your own home, and based on the long-term experience of working with real estate, we have prepared a short guide of advice, instructions, recommendations, and guidelines. If we make this journey to your own home slightly easier, our mission is accomplished.

Step: WHY CHOOSE AN AGENCY?

On a meeting at the agency, you can get a complete information about the properties, saving the time you would have spent on visiting inappropriate properties. The agency has a wide range of offers, but also verified documentation on the properties it offers. When choosing an agency, it is necessary to pay attention to whether it is a licensed agency registered in the Registrar of Brokers at the Croatian Chamber of Commerce, as well as to have a policy of insurance agreed, and to cooperate with a law firm, thus giving extensive legal security.

Step: FUNDING

Before deciding on buying, it is necessary to determine your financial capabilities. If you decide to buy through a loan, you need to hold a preliminary discussion at the bank where you will agree on the basic terms of lending. You must also take into account all additional costs that you may incur if you decide to buy on credit (loan processing depending on the bank, contract solemnization, property valuation and possibly some additional statements at the request of the bank).

Step: FINDING THE PROPERTIES THAT SUIT YOU

Our recommendation is not to enter this process without a mediator, as with the help of professionals, who are familiar with the offer on the market as well as with the purchase procedure, this phase will be less stressful and easier for you. Mediators are here to legally protect you and be with you throughout the entire process. It is essential to define a few things:

LOCATION - This is a personal choice, but infrastructure, traffic connections, surroundings, equipment, among other criteria, are factors that influence the decision to buy a property.
ARRANGEMENT - The arrangement and size of the rooms in the flat should be tailored to your needs.
POSITION - Orientation and floor number. This affects how much light, view, noise, etc., the flat will have.
QUALITY/COST RATIO - You should pay attention to the quality/cost ratio, that is, can you get the quality you need for the price you pay, or what is the best you can get for the money you have.

Step: MAKING AN OFFER

When you find a property that appeals to you and you are ready to buy it, and if you are not ready to accept the requested price, you can make a written offer. The agent will pass it on to the owner and negotiate the best possible price.

Step: ACCEPT THE OFFER

When both parties agree on the price, you need to prepare the pre-contract/contract from a law firm with which the agency has cooperation. After agreeing on the contract, they agree on the signing term.

Step: PURCHASE-SALE CONTRACT

The signing of the precontract/contract occurs when all conditions are agreed upon and confirmed. With the signing of it and payment of the down payment (usually 10% of the sales price) to the seller's account, the purchase-sale process begins. If the property is bought on credit, the signed precontract is submitted to the bank, along with the property valuation and other accompanying documentation. After the bank's credit approval, the solemnization at the public notary, and the signing of the purchase-sale contract, it is necessary to register the mortgage in the land register. After registration, the bank releases the loan.

Step: REGISTERING OWNERSHIP

The right to ownership of the property is acquired by registering it in the land register on the basis of the purchase-sale contract. The proposal is submitted to the land registry office of the competent municipal court in accordance with the location of the property. The lawyer draws up a proposal for registration of ownership and submits it to the land registry office. The tax on real estate turnover in Croatia is 4%, and it is the obligation of the public notary to report it.

Step: END OF THE JOB

After the money is credited to the owner's account, he will hand over the keys to you. Congratulations, you have become the owner of the property! The agent will help you with the handover and prepare a handover document in which the state of the appliances will be recorded, allowing the transfer of utilities to the new owner's name.

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