A real estate due diligence in Montenegro implies taking caution, effectuating calculations, analyzing documents, obtaining insurance, checking the real estate and so on. It essentially means doing the research for the property prior to actually buying it. Our company formation advisors in Montenegro can effectuate this type of research for you, upon request.
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Types of real estate due diligence in Montenegro
The main reason for performing a due diligence in Montenegro for a commercial real estate is primarily to make sure that the buyer is aware of what he or she is acquiring.
This type of due diligence should include physical inspections of the property, an assessment of the surrounding environmental aspects, an analysis of the title, the zoning requirements, leases, contracts and surveys, partially effectuated by reviewing the documents provided by the seller.
As about the real estate due diligence in Montenegro for residential properties, similar to the commercial real estate, our Montenegro company formation consultants can assist you to effectuate a due diligence and verify them with the Land Register, for instance.
In this case, there are less objective measures of valuating the real estate, mainly for single-family residences.
In single-family residences, real estate appraisals and local property trends are the best way of valuing the real estate. Our consultants can provide assistance in effectuating these types of real estate due diligence in Montenegro. We can also help you open a company in Montenegro.
Parties involved in a real estate transaction in Montenegro
According to the local legislation, the parties involved in a real estate transaction in Montenegro are:
1. Real estate agents: they bring the buyer and the seller in contact with each other, allowing them to enter into a sale and purchase contract. They are intermediaries, acting in exchange for a fee;
2. Lawyers: they get ready the sale and purchasing contracts and all the other documents related to the transaction of the real estate;
3. Notaries: because of the official requirements, the sale and buying contracts have to be notarized in front of the court or the notary;
4. Other parties: our company registration agents in Montenegro can offer more details on what these other parties are.
If you have more questions about the due diligence when buying a real estate in Montenegro, or for help to open a Montenegro company, please do not hesitate to get in touch with us.