Features real estate purchase.
Transfer of ownership of property is based on a written sales contract, signed by both seller and buyer. A party may be represented by a trustee acting under a written power of attorney, which can sign a contract instead of the principal.
When transferring ownership of a change of ownership must be registered in the register of real estate on the basis of the prisoner in writing the sales contract.
It is important to know that the Land Office for registration of ownership based on the buyer's purchase agreement, this agreement must be ratified by the signature and seal of a registered attorney in Hungary.
As a foreign citizen can buy property in Hungary?
As a foreigner, you can buy property in Hungary, either directly or through the establishment of the Hungarian Republic in your business organization.
If you want to buy property in Hungary as a citizen of Russia or the other, outside the European Union or European Economic Area state, for the purchase of your property is subject to certain limitations. According to them, to acquire ownership of the land is not considered agricultural land, an independent real estate (eg, housing) or as an independent real estate in the countryside with an adjacent area the size of not more than 6000 m2 you need to get permission. In the course of such permission to the buyer does not impose any special requirements, however, if the head of the district (the capital), the administrative authority and the mayor of the municipality for the location of the property decides that the acquisition of property contrary to the interests of the municipality or other public interests, then a permit may be denied.
Nevertheless, there are several reasons that justify the purchase of real estate through a legal entity (ie company, established by the buyer in Hungary). First of all it is worth noting that the factor that if you founded the Hungarian-profit organization, the purchase of real estate not subject to restrictions on the right of property acquisition. . When selling a company, owns real estate, the buyer need not pay state tax as well, even if it is not a citizen of the Republic of Hungary, he does not need to obtain permission to purchase the property.
What is the process of sale?
Buying process of new construction usually begins when the property itself has neither legally nor physically does not exist. The buyer in this case on the basis of plans can select the desired property and to conclude a preliminary agreement with the developer of real estate. In the preliminary agreement the parties undertake to subsequently enter into with each other sale contract to the selected property and define the basic elements of the content of this treaty.According to the usual instructions of the preliminary agreement, at the conclusion of the preliminary contract the buyer must pay the seller an advance payment of the purchase price.
When entered into a definitive purchase agreement by a more detailed schedule of payments determined for the remainder of the purchase price, specify the details of the layout and interior of premises and take possession of the buyer.
Register ownership is possible when living quarters and a block of flats being built, the developer has obtained all necessary authorizations and real estate registered in the registry creating a block of flats and residential buildings. In addition, the agreement of the developer for the registration of ownership of the buyer, a condition which is the payment of the remainder of the purchase price.
When buying a second home is usually not necessary in the preliminary contract. If the purchase price is not paid in full at the conclusion of the contract of sale, the buyer usually pays the dealer a deposit, the amount of which is taken into account in the purchase price. The deposit guarantee performance by the parties contractual obligations. In that case, if the contract is not executed on the fault of the buyer, the buyer loses the down payment provided to them. And if the seller is guilty of breach of contract, he must pay the buyer double the amount of the deposit.
It is important to emphasize that if you purchase a dwelling directly as a Russian citizen, that is, not through your company, established in the Republic of Hungary, the sales contract is valid only if the head of the district (the capital), the administrative body for the location of the property issued permission to acquire property. The permit is issued only if acquisition of property is not contrary to the interests of the municipality or other public interests. Head of the body, casting the question of whether the acquisition is consistent with the municipal real estate interests, sends a request to the mayor of the municipality for the location of the property, and, taking into account the response, may refuse to grant permission.
In that case, if you purchase a residential property through the establishment of your commercial organization in resolving unnecessary.
 What additional costs have to pay taxes to the buyer?
In Hungary there is a tax on acquired property. This one-time payment, he paid by the buyer within a year after the transaction. Its size varies depending on the type of property and its value. So, for new buildings with the amount of the transaction up to € 60 thousand one-time property tax is not included. When the amount of the transaction from € 60 to € 120 thousand tax rate is 6% more than € 120 thousand - 2% on first € 16 thousand and 6% on assets. For the second home of any value tax is as follows: 2% on first € 16 thousand and 6% on assets. Commercial property is taxed at 10%, as well as land. However, within four years after buying the land you build a house on it, then you are exempt from tax.
The cost of a lawyer is 0,5-1,5% (+ VAT), registration fees - 0,01-0,05% .0 Total sum of taxes and charges is 2,61-7,85% of the amount of real estate. These payments are borne by the buyer. Payment for services performed by the seller agent. It is about 3-5% (+ VAT).
Banks. Credits. Banks in Hungary are working on weekdays from 8:00 to 16:00. On Saturdays and Sundays are only a few branches. Regardless of their work in the cities there are many automated teller machines and exchange offices.
The most popular credit cards in Hungary:
· AMEX
· Diners club
· EnRoute
· Euro / Mastercard
· JCB
· VISA
With them you can get money from banks and ATMs, as well as pay bills in hotels, restaurants and shops.On the door of these places indicate which cards are accepted.
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Buying Property - Hungary