Montenegro has been one of the most popular destinations for buying real estate from foreigners and local people for several years. The country is chosen because of the clean sea, beautiful mountains, warm climate, and high level of security. The country uses the euro, and real estate legislation remains loyal to every buyer.
Currently, foreigners are allowed to buy real estate in Montenegro on almost the same terms as citizens of the country. The restrictions apply only to agricultural land and certain coastal areas. Otherwise, buying an apartment or a house is available to everyone.
We share what you need to buy an apartment in Montenegro, what steps you need to go through and what you should pay attention to.
Procedure of actions
First, you should honestly answer the question: why do you need real estate in Montenegro: for vacation, permanent residence, rental or as an investment. Almost everything depends on it: the city, the area, the type of facility, the budget. A clear goal saves time and helps you avoid overpaying.
For example, for tourist rentals, they often choose Budva or Tivat, for a quiet life — a Bar or Podgorica.
You can search for real estate yourself or contact an agency. In any case, verification of documents is mandatory.
What needs to be checked:
is there a certificate of ownership (list nepokretosti);
are there any encumbrances: mortgages, arrests, debts;
what is the status of the land under the building? This is especially true for new buildings and apartments.
The land under the house can be:
privately owned,
publicly leased (often in new buildings with a long-term lease for 30-90 years),
mixed (part of the land is owned by the state, part by private individuals),
or have an unregulated status, which always increases the risks.
It is necessary to check whether the object does not belong to the category of unauthorized. Such facilities can be built, rebuilt, or expanded without permission.
Any object is considered unauthorized if at least part of it is built without permits. According to the new law, the entire object is considered illegal. Legalization is possible, but not guaranteed, so it is important to check the legal status of the property before buying, regardless of its external condition.
A preliminary inspection of the property is carried out by a realtor or lawyer. They make inquiries to the cadastre, find out the history of not only the desired apartment, but also the entire building.
The Montebook agency provides a large database of real estate properties. We study all the information before publishing the object on the website. Therefore, you do not need to delve into the legal details and waste time on questionable options. Our agency has already done everything and will do it for you.
At this stage, the price, terms and conditions of the transaction and the most optimal payment options for all parties are discussed.
Payment methods:
For the transaction you will need:
a foreign passport;
confirmation of the legality of income for the bank and the tax service, if there is a request from the bank;
a power of attorney if you act through a representative.
The list of documents may be wider. The realtor and notary will tell you about this when preparing the transaction.
The transaction is executed by a notary at the location of the property. The purchase and sale agreement is signed in the presence of a court interpreter to ensure the purity of the transaction.
After signing the contract and paying, the notary:
submits the documents to the cadastre (Katastar);
sends the information to the tax office.
The official registration period for ownership is up to 60 days from the date of full settlement.
As a result, you receive the main document confirming your ownership — the nepokretnost List.
After registration of ownership, you need to re-register for utilities: electricity, water, sewerage, garbage collection and additional services.
Buying an apartment in Montenegro is an understandable and transparent process. With proper inspection of the facility and proper support, the apartment purchase transaction will be successful. Are you ready to start? We will help you choose an apartment, check the documents and accompany the transaction at all stages. It is important for us that the process and the result are safe and comfortable for the seller and the buyer.
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