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Property purchase procedure at a glance

Selecting the property.
Negotiating all the terms of the sale.
Contacting a lawyer to check that the documentation is in order and that the deal is legal.
Obtaining all up-to-date and relevant documentation.
Inspecting the property, if necessary.
Signing the Promissory Purchase Agreement.
Paying taxes due on the purchase of the property.
Signing the Deed of Purchase and Sale.
Updating the land registry on behalf of the buyer.

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Essential content of the Promissory Purchase Agreement

Identification of the parties.
Identification of the property.
Purpose of the contract.
Value of the down payment, total value of the sale and method of payment.
Date of the deed of sale.
Clause ensuring that the property will be sold free of any liens or encumbrances.
Rights and obligations of the parties.
Specific clauses.
Consequences and sanctions in the event of non-compliance.
Place, date and signatures.

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Additional costs of buying real estate

IMT - Municipal Property Transfer Tax.
Stamp Duty.
Deed of Sale.
Land Registry.
Lawyer's fees

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