A purchase of a real estate abroad raises many questions. On this page we answer the most important in short form.
Cheap Hungarian Cottages has a look at the chosen objects with you. We dispatch one day for you, free of charge. Any additional visits and the resultant costs are to be replaced, but are credited with completion of purchase. It is therefore important that you specify your wishes and ideas as soon as possible. Please also note, that we provide for agreed and failed tour dates, an hourly fee of € 39,- plus 27% VAT (total € 49,53). The reason is that we can assume no other clients during this period date. Please apologize, that we can not perceive hastily arranged appointments for organizational reasons.
The Casa Mia Hungary Bt is the only real estate agent provides all interested parties online an accurate statement of costs including all expences at the current exchange rate. However, non-EU citizens (associated excluded) have to reckon with additional costs due to the necessary authorization from the County clerk. In addition, all interested parties get a pdf-file with an overview of all costs at initial inquiry. Before buying an accurate statement of costs on the basis of today's exchange rates is standard.
The Casa Mia Hungary Bt requires a service fee of 3 percent of the purchase price, but not less than € 1000, - each plus 27% Hungarian VAT (total € 1270, - or 3,81%). The fee is calculated from the number of pitches, the number of sales contracts, the percentage fees and the minimum rate.
The fee includes the following services: Viewing of the chosen properties in the amount up to one working day (8 hours, including weekends and holidays). Organization of the entire purchase. Provision of land register extracts and maps. Organization and provision of an English-speaking lawyer (standard), assistance in the purchase. Advice and checking the lawyer until the actual land registration. After buying, we offer our customers a chargeable telephone hotline on agreed time. Here we answer questions of everyday life and translate in urgent matters on the phone. This service will cost you a monthly € 75,- plus 27% VAT (total € 95,25). Any additional services are paid. Please check in advance what we charge for the desired performance.
Unlike other European countries, in Hungary in real estate purchase processes lawyers have a notarial function. In this case, none of the parties may be preferred. For that, lawyers are liable.
In Hungary the contracting practice is to hand out Earnest Money to the seller (mostly approx. 10% of the purchase price). It's a part of the purchase price and guarantees the buyer that the seller stands to his promises. If not, the seller have to pay back the double sum of the given Earnest Money. If the buyer is in breach of contract, he shall lose the paid Earnest Money.
If you have enough time, you can sign a purchase agreement with a lawyer of our trust during your stay in Hungary. Advise and contract in English. In many cases, it's not possible to bring buyers and sellers to the same table in a short term. In this mandate is precisely defined, which property is on what terms Casa Mia on behalf of the customer to purchase. In these cases, buyers authorize us with the management of the purchase. This mandate clarifies strictly, which object may be acquired at what price of Casa Mia on behalf of the buyer.
Non-EU-nationals are allowed to obtain the ownership of a non-arable land only with the permission of the competent county government. This letter of consent will be given, if the acquiring is not conflicting to the interests of public interests and those of the local government. It's usually just a formality. The period for completion is 30 days. For Non-EU-citizens, the acquisition of arable land is forbidden.
The income tax for residential properties (houses, flats, building plots, etc.) is 15%. The taxable base for flats and houses is in the year of the purchase and the following year 100%, in the 2nd year 90%, in the 3rd year 60%, in the 4th year 30%. Afterwards, no incoming tax.
Currently the acquisition of agricultural areas (e.g. acres, vineyards, forest, meadows, orchard) by EU-citicens is possible until 10000 sqm. The purchase needs a special procedure and time (up to 6 months). The acquisition of farmland with title deed is not possible for non-EU citizens.