In Montenegro, foreigners who buy properties are subject to some legal practices regarding ownership. The government provides a set of rights for you through the law on Proprietary and Ownership Rights.
Although foreigners can obtain ownership of a property in the country, there are some differences in the rights that foreigner owners and domestic owners get. For example, foreigners cannot get properties near the land-border area, any forest or agricultural area, or any area that is marked to be important for national security. Of course, there are some ways that the government allows this.
however, in order to benefit from the rights that you will get as a property owner, and ensure that you are buying a property that will allow you to have the right you want, you may need to work with a local real estate agency in Montenegro. These agencies can offer you some critical services during and after your property purchase. And you can get the best results with their help.
Property Purchasing Services You Can Get In Montenegro
A Montenegrin real estate agency that you would work with can offer you services for many things you will need. They can help you make negotiations with property owners regarding the prices as well as the sale conditions. They can also arrange the lawyer you will need.
Services Before Property Purchase
Your real estate agency can offer you many critical services that you need before making your property purchase.
The first one of these is the extract for the Land registry. Locally called ‘katastarska skica’, this process will provide you the essential information regarding the land, property building, and regulations over the property. For areas that Land registry is not available, the agency can help with a Municipality Sketch as well.
Agencies can also check if the existing title deeds describe the property correctly, which is a step that you should not miss too.
When buying an off-plan property, you should also need to be sure that the property has the necessary approval of the local authorities for development. An agency can help you check the planning permission from the town hall. This permit is called ‘dozvola za projektovanje’ in Montenegro.
Similarly, when you buy a property in the country, you will need to get the Use Permission as well. Given by the town hall, this permit can be difficult to get for you if you don’t know the way. An agency can arrange the property checks and prepare the reports and documents necessary for it.
Agencies also offer you services to check the records regarding the liabilities which come with the property you buy. They can calculate the taxes, fees, and expected expenses. So you will know about the costs that you will need to cover after the purchase.
Another common and useful service that real estate agencies offer is a property survey. With this service, they compare the value of the property with similar options in the market. So it is important is you want to be sure about making the optimal purchase.
Of course, your real estate agent will also help you prepare, check, and sign a preliminary contract with the seller. They can help you understand the contract better. Which is especially important if you do not speak Montenegrin well enough. So you can be sure about the details of the contract.