Which circumstances shall be considered when buying an apartment in Hungary?
1. Check the land registry sheet carefully. You (or your attorney) have to examine, if there are any encumbrances registered concerning the apartment. If so, you shall agree with the seller about the procedure how to cancel the encumbrances.
2. Undersigning the sale and purchase agreement (S&P):
There are two options when you conclude the S&P agreement.
a./ Either you undersign it in Hungary, in front of the attorney at law who will countersign the S&P agreement.
b./ Or you undersign the S&P agreement abroad. In this case you shall go either to a notary public and obtain an Apostille certificate OR you shall go to the Hungarian Consulate who will verify your signature. You shall send the documents via registered post to Hungary.
3. Person of the purchaser:
The purchaser can be either a Hungarian legal entity (in most common cases: Kft.) or a Hungarian or non-Hungarian private person. In the latter case, if the private person does not have Hungarian or EU citizenship, the government office shall approve the transaction. Thus, we recommend to purchase the apartment through a Kft when the purchaser does not have Hungarian or EU citizenship. If the purchaser is a Kft., the government office does not have to approve the transaction.
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