Do you own a
property in Croatia? A chic apartment in Zagreb, perhaps? Or a luxury villa in Dalmatia? In any case, if it's time to let it go, you need to do it properly. Any place in Croatia is prime real estate! It's such a beautiful country and the fact that it's not too famous of a tourist destination arguably makes it even better. So many people would kill to get their hands on your property. And when you find the right one to sell it to, make sure to do it wisely. You can get all the basics in this real estate guide!
What Are The Costs of Selling Your Property in Croatia?
The process of selling your property in Croatia comes with a few costs. Don't think that just because you're selling something—in this case, real estate—that you don't have to spend money. For this to go on smoothly, you need to pay notary fees, land registry fees, lawyer fees, fees to get the Energy performance certificates, and costs for property repairs. Not to mention the tax imposed on the difference between the profit you earned from the sale and the value of the property from when you bought it. And if you hired a
real estate agent, you need to pay them their commission too.
Should You Sell Your Property Privately in Croatia?
As far as costs are concerned, it'd be cheaper to sell your property in Croatia
on your own. Though this only takes away your real estate agent's commission, that's still around 2% to 3% of the final price of the property, plus VAT! It's quite a good percentage of the profit from the sale. With that said, however, the process of selling real estate in Croatia is pretty complicated. If it's your first time doing it, you'd do well to hire an expert to help you out. You can easily get into all sorts of trouble if you're not all too familiar with what to do.
How Do You Make a Property Valuation in Croatia?
Property valuation is an important part of the real estate process in Croatia. This is how you will know the true value of your property, which will then give you a rough idea of how much you can sell the place for. If you hired a real estate agent to help you put your property in Croatia for sale, a property valuation is likely part of their service. If not, you can always hire a third-party company to do it for you. Moreover, it's important to note that the buyer may also conduct a valuation as part of the application process for
getting a mortgage.
How Do You Survey Your Property for Selling?
Before the valuation, you might want to conduct a separate survey on your own. Remember that buyers will
look for many things in a property, from its floor plan and layout to its working amenities. By conducting your own preliminary survey first, you'll also discover everything that needs fixing and have them repaired. Or fix them yourself if you can. Once you spruce up and improve your place, the valuation will result in a much higher property value. You can then put your property in Croatia for sale at a higher price!
How Do You Market Your Property in Croatia?
Once your real estate in Croatia is ready to go on sale, it's time to market it. And in this day and age, your best bet is to go online! Have your place listed on the
many popular property listing websites in Croatia. Even international buyers will get a chance to check out your place when they go on the internet. You'll have a lot more potential buyers waiting for you if you market your property this way. And also for which property portals to go for, the most popular ones are
Njuskalo and
Indomio. Both platforms also come in English, allowing international buyers to access them easily too.
What is The Process of Notarizing Your Property in Croatia?
Among all the professionals you will hire to help you sell your property in Croatia, a trustworthy notary is the most important. It's essentially their role to make sure every step of the process is legal and that all the documents are notarized. And at times, under your authority, they'll even serve as your representative throughout the sale. They will speak and even sign documents on your behalf. So it's important that you hire someone who's noteworthy and has a good track record. It'd also be great if they speak English or your native language.
What Documents Do You Need To Sell Your Property?
As with any other legal process out there, selling real estate in Croatia required a few documents. They include the title deed, Energy Performance Certificates, copy of the cadastral map, the necessary permits for construction (if applicable), and just to be safe, include proof of your identity too. You'd do well to gather all these up even before you put your property for sale. It's quite time-consuming to get some of these documents, especially if they come from government offices. By getting most, if not all of these beforehand, you reduce the time it'd take for you to sell your place.
How Do You Set Up the Sale & Purchase Contract?
Once everything is ready, it's time to draw up and sign the sale & purchase contract. It will benefit you to be involved in this process. You can include terms and conditions in the contract that will allow you to cancel the sale in light of certain situations. In turn, this won't leave you financially or even legally liable if you ever bow out of the agreement after signing. Because once you've signed the contract, it will legally bind you to the sale. You'll have no choice but to take it off the market and only sell it to the listed buyer.
What are The Legal Issues in Selling Your Property in Croatia?
Before selling your property in Croatia, you ought to know more about the
legal concerns that might affect you during the process. For one thing, make sure your property isn't in '
Aktivna Plomba.' This refers to the status of real estate wherein it received a request for purchase in the Land Registry but was never resolved. Deal with that right away before handling another buyer. There's also the previously mentioned sale & purchase contract. Once you sign it, you'll be legally required to see the sale through to the end. If you don't, you'll have to pay the buyer back double the amount of the 10% deposit they paid you!
How Long is The Process of Selling Your Property?
The time it will take for you to sell your property in Croatia depends on various factors. One of the most important of which is how prepared you are at the start of the process. As already mentioned, it might take some time for you to procure the necessary documents needed for the sale. If you already got them all beforehand, then it can easily take only around three to four months to complete the process. If not, you risk spending six months or possibly even more on the sale. Do you have enough time to spare for all of that?
What are The Best Tips for Selling Property in Croatia?
Finally, here are
some important tips that will help you sell your property in Croatia. Firstly, prioritize selling your newer properties. Simply put, the newer the property is, the more likely it'll sell well. They'd even go for much higher than your older real estate in Croatia. Secondly, don't forget to set a move-out date. Once you've completed the sale, the newer owner will have the right to kick you out if they want to. But you can avoid this by setting a move-out date. It'll also let them know to give you enough time to move out.
When it's finally time to sell your property in Croatia, you need to do it properly and wisely. This real estate guide will help you avoid getting into trouble and make sure that everything will go smoothly!
