A Complete Guide to Selling Your Property in Montenegro: Required Documents and Best Practice
Selling a property in Montenegro can be a complex and challenging process, but with the right information and guidance, it can be done successfully. Whether you’re selling a house, apartment, or land in Montenegro, understanding the required documents and best practices for selling property in Montenegro can help you achieve a successful sale. In this guide, we will cover the essential documents you need to sell a property in Montenegro and provide tips for selling your property effectively.
Table of Contents
What are the documents required to sell a property?
Before you can sell your property in Montenegro, you will need to obtain certain documents that prove your ownership and legal right to sell the property. Some of the essential documents required to sell a property in Montenegro include:
- Property title deed: This document proves that you are the legal owner of the property and have the right to sell it.
- Urbanistic and Technical Conditions: If you are selling land this document shows what is allowed to be built on the land.
- Contact person: Arrange a trusted contact person who can show the property to potential buyers in case you are not available in Montenegro. If you do not have such a person, you may leave the keys with your real estate agency.
- If you are married or co-own the property with someone else, it is advisable to have a notarized statement from your spouse or co-owner indicating their willingness to sell the property.
- If you don’t have time to travel to Montenegro you can leave/send a Power of Attorney to a trusted attorney’s office so they can conclude the sale of your property in your name.
- Brokerage agreement: Sign a brokerage contract with a reputable real estate agency, which will assist you in finding potential buyers and managing the sale process and advertise your property to local and international clients.
In some cases, additional documents may be required, and it is recommended that you consult with real estate agent to ensure that you have all the necessary documents before you put your property on the market. Also, a real estate agent will recommend the best-asking price for your property.
What is the best way to sell a property?
The best way to sell your property is through a trusted real estate agency with local and international outreach. Also, it is highly recommended that you don’t use more than 5 agencies since you will be bombarded with poor leads and it will become time-consuming for you as a seller.
Using a real estate agency can be a convenient and effective way to sell your property, especially if you don’t have experience with the selling process. A good real estate agent can provide valuable services like property valuations, marketing, and negotiating with potential buyers. Also, a real estate agency has a wide network of advertising channels. All you need to do is contact us.
Tips for selling your property in Montenegro
Once you have the necessary documents, there are several tips that can help you sell your property more effectively:
- Prepare your property: Before putting your property on the market, make sure it is in good condition and ready for potential buyers to view. This may include making repairs, cleaning, and improving the curb appeal of your property.
- Price your property correctly: Setting a realistic price for your property is crucial to attracting potential buyers and achieving a successful sale. Consider factors like market demand, location, and the condition of the property when determining a price.
- Market your property effectively: In order for your property to be advertised effectively we strongly recommend that you pay a professional photographer. Excellent photos showcasing your property in the best light is the best way to ensure your property will get noticed and sold quickly.
- Be open to negotiations: Negotiating with potential buyers is a normal part of the selling process, and you may need to be flexible on price and other terms to achieve a successful sale.
After you received an offer, signed the reservation agreement and the seller paid a deposit you will need to make sure that all the bills are paid, including annual property tax, water and electricity, maintenance costs of the residential building etc. The proof of paid bills must be presented at the notary office during the signing of the sale and purchase contract. Again, an experienced real estate agent will advise you and assist you even with this part of the selling process.
Cost of selling a property in Montenegro
Real estate agency fee;
We always recommend to our clients to have a lawyer, so this is also a potential expense;
In practice, all other fees are paid by the seller if not negotiated otherwise.
Take a look at our buying guide to understand the buyer’s perspective and costs:
If you have already decided to buy real estate, you are certainly interested in the purchase process. Download our property buying guide by clicking here.