Checkout & Fees Buying a property in Hungary is easy, uncomplicated and, above all, safe. The purchase contract is usually always concluded with a German-speaking lawyer, rarely with a notary. Current: Due to the travel restrictions, the Hungarian Bar Association has now also allowed sales contracts to be processed via Skype conference for a limited period. The lawyer / notary corresponds with the buyer / seller via Skype and reads out the sales contract. The original signatures will then be exchanged by traditional post. Ask us, we will be happy to advise you over the phone. Although almost any property can be bought, there are some restrictions. For example, no agricultural land, bodies of water (ponds and lakes) or objects located in nature reserves may be purchased. But even here there are exceptions. EU foreigners can e.g. Buy outdoor areas of up to 1 hectare = 10,000 m² per person. If the buyer has selected a suitable property and the purchase price has been determined, the lawyer first checks the ownership structure using a current extract from the land register, which must not be older than 30 days. Essential components of the purchase contract are the personal details of the buyer and seller, the exact designation of the property including the size of the property, of course the purchase price and the date of handover of the property to the seller. The buyer will receive a translation of the sales contract on the same day. 10% down payment of the purchase price is also customary in order to have the property reserved and the schedule is then as follows:
a) Appointment to sign the sales contract! All persons involved who are in the land register (seller) & all persons who should be in the land register (buyer) must appear personally at the appointment. At this date you can hand over the 10% deposit or you can agree on an appointment by when it will have to be paid by bank transfer (8-10 working days) b) Payment of the remaining purchase price Will be discussed together and recorded in the purchase contract (by .... at the latest). There is no requirement here, but: According to the law, the entire purchase must be completed within 6 months. c) The handover of the property / handover of the keys Can then be freely agreed. The seller reports the receipt of payment to the notary and the keys can then be handed over. If you are not present at the time, we will be happy to organize this for you and also read all the meters of the suppliers at this time and ensure a smooth contract changeover. The lawyer submits the purchase contract signed by the buyers and the sellers together with the land register extract and a copy of the buyers' passports or identity cards certified by a Hungarian notary to the office of the respective county administration responsible for the approval. This checks again the legality of the purchase contract. This is actually only a formality and only takes about 4 - 6 weeks. After the approval, the purchase contract is legally binding. As a final legal step, the lawyer arranges for the buyer to be entered in the land register as the new owner. All properties are basically sold free of debts and encumbrances. A rare exception is e.g. the management rights of the Telekom or the energy supplier entered in the land register. Hungarian lawyers work cheaply and effectively. The costs for a purchase agreement are 1% of the purchase price, but at least 110,000 HUF. plus 50,000 HUF for fees incurred by the administrative office. This includes all costs incurred up to the entry of the buyer as the new owner in the land register. After about 3 - 9 months the real estate transfer tax has to be paid. The amount of the real estate transfer tax is usually 4% of the purchase price. You can deduct the inventory (furniture, machines), but should set a maximum of 10% here and it must be verifiable. Attention: The Hungarian tax office carries out spot checks here. The amount for the inventory must also be shown in the sales contract!
