Real Estate Purchase Agreement Guide for Romania - Essential Steps
- Ricardo Batista
- Romania
- June 7, 2024
- Identify the Property: The buyers and sellers provide details about the property and agree on the price.
- Hire a Lawyer: To review the contract and assist in the smooth conduct of the purchase.
- Draft the Agreement: Both parties must draft the contract with the property details, agreed price, deposit amount, closing date etc.
- Review the Contract: All parties involved (including their attorneys) review the contract carefully.
- Sign & Notarize: After all modifications and negotiations, both buyer and seller sign the agreement in absentia of a public notary.
- Closing: On the closing day, funds are transferred and the property deed is transferred to the buyer.
- Proof of identity (could be a passport for foreign nationals)
- Proof of funds (bank statements or in-principle mortgage agreement)
- Property details (legal description of property)
- Construction certificate
- Energy performance certificate
- Land registry excerpt
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Table of Contents
Description
What is it?
A Real Estate Purchase Agreement is a legally binding contract between the buyer and the seller of a property. It outlines all the terms and conditions related to the sale of the property, including the purchase price, the timeline for the transaction, and any contingencies that may apply.
Who needs it?
Anyone planning to buy or sell real estate property in Romania.
Procedure
Required Documents
Providers that can do it for you
(We are currently curating the best providers. If you are or know a provider, please contact us or edit the page directly)
| Provider | Website | Timelines | Cost |
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Additional details
Keep in mind that laws and regulations can differ within Romania’s regions. Always consult with a legal professional to ensure you have the most up-to-date information. Additionally, fees for legal services, notaries, taxes, and other costs related to the real estate transaction may apply. It is advisable for foreign nationals to particularly clarify their right to purchase properties and the legal implications involved.
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