The purchase process of purchasing your property in Hungary.
You have found your dream home in Hungary and decides to buy it … what then?
Obviously, you come to Hungary to personally view the house before making the decision!!!
(Buy a house at a distance without seeing the house is asking for trouble
and misery …so NOT do that!!!!!!)
1) You pay 20% of the purchase price and to do so or cash at the lawyer, or transfer it to the bank account of the lawyer. This deposit will be paid to the seller/owner with a receipt as proof.
2) You sign a power of attorney that gives the attorney the authority to act on your behalf concerning the
settlement of the purchase of this particular residence. (Including a copy ID )
3) The lawyer ensures that the contract is drawn up.
4) Draws this agreement. You have to sign the contract with the Embassy if you do not want to come to Hungary.
5) Before the seller/owner signs, the remaining sum (purchase minus the deposit) of
the purchase must be paid on the “trust account” of the lawyer.
6) The seller will sign and receive the purchase price and turns the keys over to the lawyer.
7) The lawyer provides further settlement as registering in the Hungarian registration office,
completing the customer transfer of the utilities (Gas, Water, and Electricity)
The entire purchase process takes at least 30 days and a maximum of 60 days.
(The process of buying a Tanya takes longer … see extra page “sale procedure Tanya”)
8) After registration, you will receive the certificate of registration and the Land Registry and the keys will be sent to your home by registered mail.
You are the proud owner of your dream home in Hungary 🙂
9) after about 6 months you will receive from the NAV (Hungarian Tax Office) the 4% Tax of
the purchase sent by post witch you must pay to the NAV.
This is, in a nutshell, the process of buying a property in Hungary.
Obviously, the process by additional exceptional circumstances and problems can take longer!