Real estate law

The purchase of real estate by a foreign legal or foreign natural person may be obtained with the permission of the capital city and county government office competent according to the location of the property.

With this description, we try to help third-country (non-EU) citizens who want to buy real estate in Hungary.

Many people ask whether there has been a change in the legal status of property purchases during the epidemic period. Well, I have to say no. There was, is and will be real estate business. However, it can be said that the epidemiological situation has developed the practice of remote identification very nicely in order to minimize personal contact. This means that geographical distance is no longer an obstacle to concluding a contract. All that is needed is a computer, broadband internet and a program suitable for video and audio recording (Microsoft Teams, Skype).

What is the next step after selecting the property we find suitable?

The bidding. There are two ways to do this.

One, and this is the easiest way, is to contact the seller in person or even by proxy to discuss the details with them and to visit a lawyer who will write a contract for the sale of real estate suitable for registration of ownership and represent the parties before the appropriate authorities.

The other is that it is, and we can safely say, a more complicated and significant risk transaction if the buyer – with the involvement of a real estate – signs a letter of intent to buy, as a contractual relationship is already established between the parties. Simultaneously with the signing of the letter of intent to buy, the buyer pays the deposit, which has been settled, however, if no contract is made due to the buyer’s fault, they lose the deposit. It is therefore important that the buyer seeks legal assistance from a lawyer before signing the letter of intent.

If you have any legal questions about real estate, feel free to contact us, and we will prepare your contract in Russian and English on request, and we will provide full legal representation.