If you have chosen the real estate which you would like to buy and with a view to this you have registered a company, it is good first to pay a reservation deposit and check the documents for ownership of the owner and after that to conclude the preliminary agreement and to pay the down payment. Under the preliminary agreement the parties contract the price, mode of payment, determine their rights and obligations, the dead line for the transfer of the ownership over the property, subject of the agreement, with title deed, payment of all expenses related to the deal, as well as the consequences upon non-performance of the obligations under the agreement by any of the parties. Of course, everything is a matter of negotiation between the parties, but it has to be specified that there are some differences between the payment modes, the penalties due upon non-performance of the obligations and between the documents which the seller can present when selling land, house, yard, finished apartment or apartment under construction /off-plan/. There is also difference in the period between the preliminary contract and the title deed. When the apartment is off-plan, then the period for transferring of the property with title deed shall be longer, as the latter shall depend on the stage of the construction works, whether as of the moment of signing the preliminary agreement the seller has obtained building permit, or if the construction has already started or not. When purchasing an off-plan apartment, the payment is performed at separate instalments, bounded with the different stages of the construction process. The last instalment or the rest part of the selling price usually is paid on the date of transferring the ownership with title deed. In case that you are going to use a bank credit the amount has to be paid to the account of the Seller by the relevant financing bank after the notary transfer of the property and notary entering of the mortgage in the bank's favour.

You are recommended that on the date of concluding the final deal for the ownership transfer with a title deed, to check the property for lack of any burdens. The deal has to be concluded before Notary Public, with the same region of activity as the one where the property is located and in the presence of a sworn translator. On the same date the Notary Public shall deposit the documents from the deal for registration in the Registry Administration at the corresponding regional Court. The registered Title deed can be obtained within two days from the date of concluding the final contract. In two months period after the notary transfer the Bayer or an authorised person have to declare the property in the relevant municipal department.