You've probably enjoyed your
property in Hungary quite a lot, haven't you? Though this country is far from the likes of Italy and France, investing in some real estate here was definitely a smart move. And over the years, you've benefitted a lot from it. Now, it's time to say goodbye. For whatever reason, you will need to sell your property in Hungary. But doing so isn't as easy as you might hope. It's not that difficult either, but there are ways to go about it wisely. Following tips like making space in your schedule and dressing up your property will do for a start!
Make Space in Your Schedule
You ought to know now that the process of selling your property in Hungary can take some time. The process leading up to signing the purchase agreement alone can take around 60 days (approximately two months), and then another 60 days for the buyer to pay for the property in full. So all in all, it usually takes around four months. But what if something happens along the way? Or you're not 100% prepared at the start? It's possible the entire process can take over six months, half a year! You will need to devote as much time to this as possible in order to avoid that!
Consider Hiring A Real Estate Agent
Though it's not exactly a requirement, consider hiring a
real estate agent to help you put your real estate in Hungary for sale. Especially if it's your first time doing it and you're not that fluent in Hungarian. If you're new to this stuff, it's better to leave all the heavy lifting to the experts. Not only do they know the process left and right, but they're likely more familiar with the legalities around it too. Remember that one mistake can instantly land you into big trouble if you're not careful. At least, if you're selling your property
through real estate, you'll be advised on what to do.
Prepare The Legal Documents Beforehand
What you can do, whether you sell your real estate in Hungary through real estate or
on your own, is to gather up all the important documents. To start the real estate process, you will need the title deed, the Energy Performance Certificate (EPC), other similar documents that prove that the property is working just fine, and more. Do note that this part of the process can take up a lot of time. So much so that if you're not careful, the entire sale can take around six months in total. If you don't want that to happen, then prepare all the necessary documents beforehand!
Check The Title in The Land Registry
Although it's part of the buyer's due diligence to check the land registry if you, the seller, are in fact the listed owner of the property, you'd do well to do it yourself too. Remember that if you're not named as the legal owner, you won't have the right to put this real estate in Hungary for sale. So it's better to check the title deed in the Land Registry even before you consider selling the place. If there is a problem, you can let your notary fix it so that you won't have to worry about this certain legal issue once you find a buyer!
Dress Up Your Property
It's important to dress up your property before you put it on sale. For one thing, the better it looks, the higher you can set the initial price. Remember that conducting a valuation can help you determine just how much your real estate is truly worth. If you dress the place up before the valuation, it's possible that they may come up with a higher value than your think. Moreover, it's also good that the place looks its best when you post pictures on property listing websites. This can also increase the value of the property.
Be Careful Before Signing Any Document
It should go without saying that you have to think carefully before signing any contract, specifically the purchase agreement. This legally binding document will require you to see the sale through to the end. Once signed, it means you will only sell the place to the listed buyer and no one else. On their end, they'll have to pay you a 20% deposit. But if you ever decide to bow out of the agreement after signing, you'll be required to pay the buyer back double the amount of the deposit they paid you. In the end, you only lost money and gained nothing.
Set A Move-Out Date
And finally, don't forget to set a move-out date. Some real estate agents and notaries/solicitors will insist on. After all, nothing is more humiliating than getting thrown out of the property you once owned, right? And once the contracts are signed and everything is paid, you forfeit any right to stay in the place. Of course, if the buyer, for instance, is
relocating to Budapest and they bought your real estate there, it's natural they'll want to move in as soon as possible. To avoid any sort of conflict, set a move-out date on the documents.
When it's time to sell your property in Hungary, all you could ever hope for is that nothing goes wrong. You can ensure this by following these helpful tips! Rest assured that the process will go smoothly if you do!
