By Vangjel Dhimo on February 25th, 2023

Your buying procedure continues to the legal stage after the seller accepts your offer. You will be required to sign a reservation contract, a purchase contract, and an official deed at the Notary on the day of completion when purchasing real estate. Although not the only option, this is the most typical. However, you can be required to sign a number of contracts, including:

SALE AND PURCHASE CONTRACT

This is the most common type of contract used in Albania for the sale and purchase of real estate. It outlines the terms and conditions of the sale, including the price, any contingencies, and the rights and obligations of the parties involved.

PRE-SALE AGREEMENT

This contract is used when a property is under construction and the buyer wants to purchase it before it is completed. The terms of the pre-sale agreement, including the price and the completion date, are outlined in the contract and the payment method is done by payment plan.

It is important to have a clear understanding of the terms and conditions of any property buying contract in Albania our company has extensive knowledge of the legal part of more than 30 years of experience and it will provide you the legal advice if necessary in any case.

QUESTIONS AND ANSWERS

WHAT IS THE NEXT STEP AFTER I BOUGHT A PROPERTY?

The buyer receives instant ownership and complete responsibility for the property after signing the title deed at the notary’s office. After everything is done, our company has will look after registering your property in the registration office and this is done within 15 days.

DO I HAVE TO PAY ANY TAXES?

Albania is a very tax-friendly country and this is one of the reasons many foreigners love what the country has to offer but also the legal straightforward system they have. When you buy a property you only have to pay the notary’s costs and the contract’s translator costs which usually depend on the value of the property. The notary’s costs are calculated with a certain formula which translates to 0.3% of the property’s value. That’s all you have to pay when buying a property.