Real estate purchuase agrement

In order to successfully buy your property, there are some conditions that must be completed, such as, a contract that will allow you to make your purchase safe. When making this kind of agreement, it is mandatory to sign a real estate purchase agreement. 

A contract for the sale of real estate is a document in written form by which the seller undertakes to transfer ownership of the real estate to the buyer, and that the buyer will pay the agreed purchase price of the real estate. In order to be considered vali8d, this contract must be concluded with a public notary or a lawyer in writing. 

The real estate as the subject of the contract must be specified and described in the contract exactly as it is entered in the land register, otherwise it is possible that the land registry court will request the registration of ownership rights. The price, as the essential element of the contract, must be determined. In addition, of this essential element the contract must include the method and term of payment, any down payment, fulfillment of various conditions etc. It is desirable to define in the contract all legal consequences of non-fulfillment or delay in the fulfillment of the obli8gation by the buyer or seller.

When concluding a sales contract, both buyers and sellers need to hand over to the notary the certain documents.

Sellers need:

• Land registry extract,
• The certificates that property doesn’t have overhead debts (heating, water, garbage collection, electricity, building manager) 
• Confirmation from the tax administrator that the owner doesn’t have tax debt
• Proof of the acquisition of real estate ownership (earlier sales contract, gift contract, inheritance decision, life support contract ) 
• Identification document (identity card, driver's license, passport) 
• Birth certificate or marriage certificate 
• A copy of the cadastral plan (if necessary) 
• Consent of the spouse or his presence on the purchase contract ( if the property was acquired during the marriage) 
• The bank’s consent (if the real estate is mortgaged) along with confirmation of the remaining debt under the Loan Agreement 
• If there are several owners, and not all of them are able to attend the signing of the sales contract, all those who are absent are obliged to submit a power of attorney certified by a notary (or at the Bosnian embassy) for the person who is present. If the power of attorney is certified by a notary abroad, notarizations are required from the authorities in the country where the power of attorney was drowned up.
• If the right of lifetime enjoyment is registered on the real estate, consent is required for the sale of the real estate by users.
• Account number of the real estate owner or confirmation of an open account issued by the bank.
• And also, the other necessary documentation that is needed to conclude a legal transaction 

Buyers need:

• Identity card, driver's license, passport 
• Down payment or full amount of money (cash, credit or as agreed)

Upon payment of the agreed purchase price of the real estate, the seller issues to the buyer a notarized certificate (in the form of a certified statement) that the agreed price has been paid in full, and the buyer acquires the right to enter the possession of the real estate (unless otherwise is agreed). Most often, during this meeting, the keys to the apartment are collected from the notary and a record is drawn up proving that the seller has brought the buyer into possession of the apartment. In the same interval, the buyer is issued a complete copy of the contract with the Intabulanti Clause, that is, with the seller's permission, that the buyer can register the parvo of ownership of the property in his name at the land registry of the municipal court after the completion of the tax procedure. With a copy of the sales contract, the buyer acquires the right to transfer all utilities and other services to his name.

When it comes to buying or selling real estate, PROSTOR agents are your best intermediary. Our positive experience as a leader with 15 years of existence on the market indicates the professionalism, quality and reliability of our services.

If you have chosen the agency PROSTOR to mediate the sale of your real estate, our team of young and professional agents will coordinate with you, independently or with your presence, to obtain all the necessary documentation required for the conclusion of the legal transaction, that is, the conclusion and fulfillment of the real estate purchase agreement.

With our transparent business, we ensure your safety and provide the necessary information and knowledge that are crucial for the quick and easy realization of the purchase or sale of real estate. Feel free to contact us and see for yourself why we are leaders on the real estate market in Bosnia and Herzegovina.