It is possible to purchase property in Hungary for either the first-time homebuyer or an investor seeking to purchase a house. It's not easy to acquire real estate from different countries due to the complexity of the legal process. Here are some tips for ensuring peace of mind and good prices in the purchase of real estate in Hungary.
Most foreign buyers have similar rights to Budapest citizens, with the exception of the restriction on area. As the Budapest area is only for foreigners, they are restricted in the purchase of commercial or residential properties within the region. In case of an international property acquisition, a person who is a resident of Hungary is required to be licensed by the Ministry of Development (MDA) to purchase a property or apartment located outside of the nation. If there is a non-payment of the foreigner's debt obligation through them then the MVD acts as a guarantee. This can be done through the exchange of currencies.
When you're considering purchasing a property in Hungary it is suggested to apply for a residence permit from the Ministry of Development. It is possible to apply for the permit through the web. If you are planning to purchase a property in Hungary or to rent an apartment in another country, you should call us right away. Making an online application is the fastest and most simple method of getting the permission.
The landlord must have your current address and the registration number for your landlord in the event that you are planning to purchase a property in Hungary. If you are making a part-time purchase, it is necessary to mention the landlord's name as well as address along with the registration number. It is essential to first speak with the landlord in case you're looking for homeowner's insurance when you live in an property in Budapest.
Once you have received the registration card after receiving it, you are able to purchase the property Hungary either through an agent or directly. The latter is preferable in the event of having legal issues arise as part of the purchase, or later on. Please contact us as soon as you are able to purchase a home in Hungaria via an agent.
Finding the correct land registry office is the initial stage to purchasing property in Hungary. The location of the land registry office may be found on the website from the Ministry of Development. Click here to find the land registry office located in Hungary. If you are unable to find the exact address for the land registry office in the Hungarian website, you may reach us via phone or by e-mail.
Both of you will need to obtain a copy from Hungary's land registry office of property ownership. After that, you together with your foreign spouse must be able to sign the purchase contract front of a notary public. Be aware that you will be required to hire a lawyer for this transaction. In addition, a copy of the purchase agreement must be delivered to the local court in the event that legal dispute arises. If you're in doubt ask a lawyer who is experienced.
The buyer is entitled to sign the purchase agreement and then enter into a legally binding contract. This contract is made up by adding sections that define the conditions and terms of sale to foreigners. Be aware that they differ from one country to country. You should consult a lawyer the event you are unsure about the buying process for find out more property in Hungary. We invite you to contact our law firm if you are unsure about the purchase of real estate in Hungary or legal questions.