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Post by Steven on May 19, 2005 12:24:25 GMT 1
Hi,
I am still working on getting financing for property in Croatia to run as a pension (B&B). It's definitely harder than I thought. Especially dealing with the croatian banks directly. I do have a few questions though:
1. What is the standard way to value a property to determine the fair market value. I want to buy a villa type house (14 rooms) on Brac in Supetar. Does anyone know what the standard cost per square meter would be?
2. I read in a post that the property transfer tax (5%) should be included in the price of the house. Is it typical that the quoted price is the selling price, or is it accepted that the price can be talked town. This property my wife and I want is very expensive, and I think it has been on the market for a while because of the price. Would it unreasonable to try to make a lower offer without offending the owners?
Sorry if my questions seem rather dumb, but I am trying figure the croatian housing market out before I commit to anything in a pre-contract.
Thanks!
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Post by Peter Ellis on May 19, 2005 23:51:57 GMT 1
The value will depend on the type of construction. There is a big variation in building costs between a rendered finish and full stone outer walls. The 5% Property Transfer Tax is not included in the price of a house although PDV(VAT) is, if it is applicable. If a property has been on the market for a long time an offer is always worth a shot.
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