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Post by samantha on Feb 11, 2016 14:07:21 GMT 1
Hello all I'm new to this forum and have been reading your posts which have helped me a lot. I'm in the process of buying a property. I'm trying to work out the additional costs I will incur. I think I've gathered that I now don't need to set up a company and can buy the property in my name. I found this useful information on another website: Notary and registration fees - 0,01-0,05% of property contract value,
Official translator's costs approx. - 200-300 eur in total including Contract translation
Agency fee – normally 3% of contract value + VAT
Advocate's fee – 0,5-1,25% of contract value + VAT
Property transfer tax – 5% of tax office property estimate (in case of apartments purchase is levied upon the cost of land proportionally to the space of apartment vs space of the whole building)These items are all things I have already found out from this forum. Questions I have: I assume 'Advocate' is like a conveyancing solicitor? Is a translator necessary? Can the documents be in english? Something else I read on another website: If you for instance buy villa in Croatia or any other property from a legal entity, please, pay attention whether VAT is already included in the price. Croatian VAT was set at the level of 25% in 2013.Is this only for new builds? The property I am interested in buying is built pre 1968 and the current owners have owned it since 1986. Will I need to ask them to include VAT in the price? Thank you in advance
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Post by Carol on Feb 11, 2016 16:41:35 GMT 1
The documents are for many people to read, not just you. The staff at the land registry and the tax office need to be able to read them too, and the notary. One way or another they have to be translated, so its better that they are translated for you, rather than for each of them with people arguing over what is the most accurate translation.
They have to be translated one way or another because you need to understand them before signing, otherwise your signature will be invalid. Anyone can translate them for you, but an official translator is better - not least because they have more experience of translating legal terminology so they tend to do a better job.
Translations can either be delivered verbally or in writing. If verbally, then it needs to take place in front of the notary so that when he/ she stamps the contract, they are stamping to say that both parties understood and agreed and they witnessed that. In writing tends to be cheaper and it gives you something you can read slowly, ask questions about and refer to years later - I think a contract translation is around €130.
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Post by Carol on Feb 11, 2016 16:46:08 GMT 1
Advocate = lawyer. Croats call them lawyers or odvjetnik. Add the word advocate in and you'll just start confusing people as they only know the translation of odvjetnik as lawyer.
Lawyers tend not to spee they all do everything, including conveyancing. Actually conveyancing just means writing the contract in practice. The cost is 1% unless the agency can do a deal for you.
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Post by Ribaric on Feb 11, 2016 17:36:34 GMT 1
It is my understanding that translators must be registered as "court translators" in order for the advocate and/or notar can be positive an accurate translation is being given. It also prevents you from suing them if they agree to go ahead with a legal action with a "dodgy" translator.
I gather this property has no land which is outside of a building zone? VAT is applicable if the property is being sold by a company which has added value to it. Be careful on this point, ask your local tax office.
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Post by samantha on Feb 11, 2016 20:54:47 GMT 1
Thank you Carol and Ribaric. Things are more clear now Carol, I will get an english translation and Riberic, I will check if this needs to be done by 'court translator'. Ribaric, no land outside a building zone. I think it is being sold by an individual that has owned since 1986 and not a company.
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Post by Carol on Feb 11, 2016 21:12:35 GMT 1
Owned since 1986 is good. Changed hands sometime around 1991/92 should be looked at carefully.
I recommend using a court translator too.
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