How long does it take to buy?

[oliverwright]

Hi there

I am looking to buy an apartment this year and would like to know how long it will take from putting in the offer to having the keys.

Really I want to know if it's possible to buy somewhere and rent it this year (for and of June / July / August) or whether I should just plan not to make any rent on it till summer 2006?

[Peter Ellis]

Assuming that you pay an initial deposit secured by a Pre-Contract and that your money for the balance follows soon after, when you do the full contract, you could get the keys immediately after. You don't need to wait for the MFA approval and Land Registry entry to start using the place.
You will need to rent through the medium of a Croatian company, but that doesn't have to be your own company; it could just as easily be through a Croatian letting agency.
If buying an apartment, ensure that the Division Document has been done, creating individual legal lives for all the apartments and that there is a Usage Certificate.
Our legal department can deal with it all for you if you contact us. We do property related legal work throughout Croatia.

[Oliver Wright]

Thanks - so how long does the whole legay process take, start to finish?

In London we would allow about 3 months - but I had asssumed it might take longer?

I guess I'm trying to find out when I need to put in an offer on a property, if I'm going to be able to let it for say July and August this year?

How does 1 April sound - or would it take longer than that?

Thanks

Oliver

[Peter Ellis]

It depends. If you really need a fast track you can go the company route and that can be completed, including the time taken to form the company (which is relatively complicated here) in about 8 wks, as you don't then need MFA approval.
However, if you don't need a company for a good reason, I wouldn't bother with one.
Doing it in your own name currently takes about 8 months. It used to be less but the volume of applications is slowing things down. Longer times suggest paperwork problems.
HTH

[Oliver Wright]

Thanks v much

Oliver

[Chris Farrall]

Just a note, really to confirm what Peter Eliis says. We sourced out a small house in Istria last August, placed an offer and completed in September, receiving the keys on sgning of the final contract & payment of balance of price. All was very successful, thanks, in our case, to the efficiency of Peter and his property law department (his wife!). Although we could have started to let right away, the season was almost finished, but hope to let as from Easter.
Good luck with your search
Chris