These Are The Legal Issues to Take Into Account While Purchasing a Property in Hurghada
securing your ideal property in Hurghada
The process of purchasing your house in Hurghada will begin after Galeria Properties sends you a reservation form to fill out once you've discovered your desired flat and agreed upon the payment arrangements. The information on this form is gathered so that the developer's legal team can write the property selling contract and begin the purchasing procedure on their end.
Paying the First Payment on Your New Hurghada Residence
It's time to send your initial payment toward the purchase of a Hurghada home after you've completed the form and returned it. Depending on the payment plan you've chosen, this can be the initial deposit sum or the first installment. This payment may be made using a bank transfer.
Constructing contracts
The property will be removed from the market upon receipt of your initial payment, and the monies and paperwork will be sent to the developer's legal and accounting departments. Within ten working days, they will then prepare the formal purchase agreement for the property transaction and transmit it to you.
Signing the agreement
You will have plenty of time to evaluate and inquire about the contracts for your house after you receive them before signing three copies of the documents and mailing them back in hard copy.
Contract fulfilled
Congratulations! You will now receive a stamped and signed copy of the unit contract for your records, signaling the end of the purchasing process. Also, you must pay according to the terms of the payment schedule indicated in the contract.
Legal Issues to Think About Before Purchasing a Property in Hurghada
First-time legal fees
When purchasing a home in Hurghada, independent lawyers do the first legal inspections and due diligence at no expense to you. A copy of this data will be sent to you with your contract. Only homes that have passed all essential legal inspections and have all required permits and building documents in place are offered for sale by Galeria Properties.
Lawyer Fees Upon Verdict
The signature court validity procedure, which verifies your ownership in the eyes of the court and is a means to preserve your investment without any of the constraints associated with the complete registration process, is advised that you carry out after the property is constructed and fully paid for.
Free Legal Advice on Purchasing a Property in Hurghada
We advise hiring an Egyptian attorney who is acquainted with the local legislation if you'd want an impartial counsel to evaluate the contract and perform due diligence while purchasing a house in Hurghada. In order to go through all the original documentation and assist with the purchasing process, our staff at Galeria Properties would be pleased to set up a meeting with the developer's attorney and the lawyer of your choosing.
We hope that this advice helps you understand the purchasing procedure for your Red Sea real estate property in Hurghada and gives you confidence while making your investment.