Tips on Buying Your Dream Home
Here are some tips on buying your Slovenian house or any other property and the key points you need to consider in terms of choosing a property and then we give a short guide on how to buy your property from arranging finance to the legal process of completing the transaction so you can own a property in Slovenia.
We are an Established Estate Agent in Slovenia and can help you not find the best properties but help you buy the property you have chosen - so if you want to own a property anywhere in Slovenia our short guide will show you how.
Slovenia houses are competitively priced in international terms and an added attraction is the facility, to arrange mortgages which are secured on your property in Slovenia and not your principle residence.
Before You Buy
The first point to keep in mind is - to make sure you visit the area.
By doing so you can really get to feel for where you are buying and consider such points as – transport and how long it takes to get there, the infrastructure once you are there and the quality of life generally.
Finding the Best Properties in Slovenia
Consider how much time you want to spend renovating and improving the property, whether you would rather buy a fitted out apartment or want to have your house built to your specifications. All options have their merits it’s just a question of choosing the one that’s right for you and your circumstances
You also need to consider how you deal with an emergency and general up keep of the property, especially when you are out of the country. You may want to consider discussing with your estate agent about having a management company look after the property for you. They can make sure the property is looked after and secure while you are away and deal with any emergencies
Before you visit the country, make sure you have a variety of houses to look at so that you can use your time efficiently. The house that may look good from the information you have, may not be as attractive once you’re there! Make sure you give yourself some options and maximize your time when you visit. Once you have made your choice and are happy with the property you have chosen its time to start the buying procedure.
Tell your estate agent to submit an offer in euros based on what you believe the house is worth to you and of course what you can afford and make sure you take into account the total purchase price – such as agents fees, lawyers fees, translation costs, bank costs, currency transfer fees and any work that needs to done on the house. Generally speaking, fittings in Slovenia are around the same cost as in the UK but labour is cheaper, so make sure you cost these areas out.
Step by Step Guide to Purchasing a Slovenian Property
Buying real estate in Slovenia is straightforward and below, we have listed the points that you need to take care of to purchase your house apartment or any other property in Slovenia.
Getting a EMSO Number
Once your offer is accepted on a Slovenian house, you must make an application for an EMSO number (a number that Slovenian citizens are all allocated at birth) and perform land searches. Land registry searches in Slovenia are quick and can usually be provided within 2 – 3 working days.
Arranging a Mortgage for Your Property
Now you need to arrange the finance for your Slovenian property and you can buy outright or you can ask your estate agent to recommend a bank to provide financing. If you are transferring money to Slovenia your bank may not be the best option and you should shop around and try some specialist currency companies for the best conversion rates as they can make a significant difference.
Banks who Provide Finance Mortgages to Overseas Buyers
If you want to finance the property locally there are now two banks that offer Mortgages to the overseas investor interested in purchasing Slovenia property.
The Austrian bank VOLKSBANK for overseas buyers to take out 70% mortgages and on a case by case basis up to 75% which depends on the customer's credit rating. The mortgage is secured on the property bought in Slovenia, not the purchasers home property in his or hers country of residence.
SKB Banka based in Slovenia offer 50% mortgages, although recently they have been allowing up to 70% on certain properties.
Mortgages on Local Property and Typical Deposit Required
In both cases the mortgage is secured on the property bought in Slovenia, not the purchasers home property in his or hers country of residence. Finally a 10% deposit is normally required.
Use Local Lawyers and Solicitors
Make sure you translate all documents including the contract, the details from the Land Registry, any management contracts and all insurance policies. Read through them with the guidance of a a local lawyer.
Once you are satisfied and checked the details with your lawyer, you can sign the contract and enjoy your new Slovenia house and the delights of this wonderful country. If you need any legal advice on providing a property or want us to put you in touch with a solicitor we can put in you touch with local lawyers who can help you get all the paperwork done at a competitive cost.
Buying Slovenian Property for sale is relatively straightforward and you will find more information on this site, as well as a selection of the best Slovenian houses and the best in Slovenian property. If you have any questions or queries on the information please feel free to contact us and we will be delighted to help. To browse our extensive range of real estate in Slovenia Click Here