Important points when buying property in Montenegro

Congratulations to those who have already passed the stage of choosing real estate in Montenegro and are starting the process of purchasing it! To make sure everything goes smoothly and without problems, we will tell you about the important points that await you before, during and after purchasing a property for living or renting.

Payment for notary services

Notary services are paid by the buyer. The cost of notary services depends on the price of the property. For example, when purchasing an object for 150,000 €, the payment for notary services will be approximately 600 €.

Certified translator

All foreigners must have a certified translator when signing an agreement. It will completely translate the contract and be indicated in it. The cost of the translator service is 35-50 € and is paid by the buyer.

Advance for real estate

Sellers often require an advance payment on the day the contract is signed. Usually it is 10% from the full price. If the deal falls through due to the buyer's fault, the advance payment is not returned. If it is the fault of the seller, it will be returned in double amount. These provisions are optional and may vary depending on the agreements of the parties.

Payment for real estate

Before the transaction, it is important to decide on:

• Payment in installments.
• Payment terms.
• Payment routes.

Transfer of ownership

After both parties have fulfilled all the terms of the agreement, the notary sends the documents to special departments for the transfer of ownership. After completing the procedure, the notary will receive a “decision”.

Payment of property taxes

After signing and paying the price of the property, it is necessary to pay tax in the amount of 3% on resale property within 15 days. For this procedure, foreigners need a residence permit (residence permit) or a temporary tax number.

Tax payment confirmation

After paying the tax, you need to submit the paid invoice to the tax office and receive confirmation.

Obtaining a “sheet of obscurity”

After this, you need to get a “sheet of inconsistency” in your name.

Transfer of utility bills

With the new “invoice sheet” you can transfer utility bills to your name.

Registration of a residence permit

Now you can begin the procedure for obtaining a residence permit for real estate.

By following these recommendations, you will be able to successfully complete the process of purchasing real estate in Montenegro and avoid possible problems. Good luck with your new home!