Procedure when purchasing a flat

After you have chosen your new flat you will be called upon to sign two contracts subsequently:

• Option to purchase contract (contract effective till the final building approval and the house number assignment)
• Contract of purchase (will be made prior to handing over of your flat)
• Payment of the purchase price is then divided into part-payments/instalments.

Schedule of payments – financing the purchase price by independent (own) means

• Purchase price advance payment:
  amounting to 10 % within 10 days after signing the option to purchase contract
• Purchase price advance payment:
  amounting to 45 % of the assessed price within 10 days from the written notice and announcement of submitting the proposal of registration of the building at the Land register, at the latest by 31st October 2012.
• Purchase price advance payment:
  amounting to 35 % of the assessed price within 10 days from the written notice and from beginning of the approval, at the latest by 31st July 2013.
• Purchase price supplementary payment:
  amounting to the supplementary payment of the assessed purchase price as of the day of signing the bargain and sale deed, at the latest by 30th September 2013.

Schedule of payments - mortgage

• Purchase price advance payment: (from own resources)
  amounting to 15 % of the assessed price within 10 days after signing the option to purchase contract
• Purchase price advance payment: (mortgage)
  amounting to 75% of the assessed price within 10 days from the day the Future buyer or the Future Seller will be delivered to the mortgage bank:
  
  • Declaration of the building owner regarding division of the building to individual units and registration proposal of this declaration with the registration seal of the appropriate Land register and with a file number assigned
  • Original of the Agreement on the mortgage lien regarding the property – subject of the future contract
  • Original of the Proposal of the mortgage lien registration according to the above stated Agreement on the mortgage lien regarding the property with the registration seal of the appropriate Land register which will, except of the registration date, contains also the file reference of this Proposal in the record
  • Individual conditions for mortgage drawing according to the Mortgage agreement between the Future buyer and the mortgage bank shall be met, nevertheless not before 30 calendar days from the registration of the Declaration of owner at the appropriate Land register.
• Purchase price supplementary payment: (mortgage)
  amounting to 10% of the assessed purchase price within 10 days from submission of the final building approval containing the legal validity clause to the mortgage bank, as of the day of signing the option to purchase contract, at the latest by 30th September 2013.