The project is 500 meters from the beach. This is Dobra Voda. One of Montenegro’s most exclusive districts.
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First of all the buyer and the seller come together in a certified notary. After the agreement is reached and a contract is signed and the payment is made the notary shares the title deed of the house which has the name and signature of the new owner with the related department of municipality and Directorate of Land Registry and Cadastre. In the following 10 to 20 business days the title deed transfer occurs.
You can buy a house in Montenegro without travelling to the country by power of attorney. For this you’ll need a 2 page letter of attorney which needs to be obtained from a notary. It has an estimated cost of 30 EUR (180 TL).
In Montenegro, the home purchase tax is applied at a rate of %3 for finished projects. However, this tax does not apply to new projects being built.
If the buyer is going to travel from Istanbul to Montenegro by air travel, the cost of the flight ticket is around 235 € (1500 TL) - 313 € (2000 TL). In addition, the notary public must have a sworn translator during the sale of the house. This is subject to hourly fees. Depending on the sales transaction, the average cost is between 150 and 250 EUR. Also the costs of notary public are approximately 500 EUR. However those who want to buy their houses without travelling to Montenegro only have to pay for the 2 page letter of attorney obtained from the notary which is needed for the transaction. Besides these expenses the buyer also has to pay for a data entrance fee at the cadastre. There is a 150 EUR + V.A.T. pre-contract expense for a house which is valued between 25 and 60.000 EUR and the cost of main contract is 300 EUR + V.A.T.