Property Purchase in Hungary

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I'm a native English speaker and I needed an English speaking Hungarian lawyer. I needed help with my recently deceased father's probate, and subsequent property sale (conveyancing). Advocate Abroad put me in touch with Peter H. Peter H dove into the deep end and identified all the mandatory forms, drafted all the required agreements, and persistently engaged the Budapest authorities when they drifted off track - and there was a lot of that going on. From the perspective of notification, Peter H provided updates either frequently when that was needed, or occasionally when that was appropriate. From a fees and value-for-money perspective Peter H delivered right on target.

Pete Gal
12 Feb 2024

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Service Details

Property Purchase

This service is available across Hungary

Who would find this Service useful?

This service caters to English-speaking expats and foreign nationals interested in buying property in Hungary - both residential and commercial properties.
Whether you're an investor seeking lucrative opportunities in the Hungarian real estate market, a retiree dreaming of a home in this culturally rich country, or a professional moving to Hungary for work, our services are designed to navigate the complexities of the Hungarian property purchase process smoothly.

Requirements

Purchasing property in Hungary involves several prerequisites, including understanding the distinction between deposits and down payments, recognizing the importance of due diligence, and complying with formal requirements set by Hungarian property law.
Buyers must be prepared for financial obligations such as the property transfer tax and must navigate the legal framework governing property transactions in Hungary, which mandates the involvement of a legal professional to draft and countersign the sales contract.

Procedure: Our Approach

Selection and Due Diligence: Identifying the right property and conducting thorough due diligence to ensure the property is free of legal encumbrances and accurately represented in the land registry.
Financial Arrangements: Understanding the financing options available, including bank loans, and meeting the respective requirements, which may vary between financial institutions.
Legal Representation: Engaging a qualified attorney who specializes in real estate transactions in Hungary to draft, review, and countersign the purchase agreement. The lawyer also plays a crucial role in checking the property's legal status and ensuring compliance with Hungarian property law.
Contract and Payment: Navigating through the terms of the purchase agreement, including payment schedules, deposits, and securing the transaction with appropriate guarantees.
Official Registration and Taxation: Completing the transaction by registering the property with the Hungarian Land Registry and addressing any tax obligations associated with the property purchase, such as the property transfer tax.

Advantages of this Service

Expert Guidance: Receive comprehensive assistance from professionals experienced in the Hungarian real estate market and legal system.
Legal Security: Ensuring all legal aspects of the property transaction are managed correctly, from due diligence to contract drafting and registration.
Financial Advice: Advice on financial arrangements and tax obligations to ensure a smooth purchase process without unexpected costs.

Key Components of this Service

Legal Assistance: From initial due diligence to drafting and countersigning the sales contract, ensuring legal compliance throughout the transaction.
Financial Consultation: Guidance on managing the financial aspects of the purchase, including dealing with banks and understanding tax liabilities.
Property Registration Support: Assistance with the formal registration of the property in the Hungarian Land Registry, ensuring legal ownership is properly established.

Free Support Services Included

When combined with the free and innovative Advocate Abroad support services you can be sure that you are obtaining completely transparent legal services from registered and regulated English-speaking lawyers abroad.These support services include: