Pre-Contract and Contract
Your Hvar Property Purchase Agreement
Before any agreement is signed between both parties our lawyer and/or in conjunction with our clients lawyer will check that the ownership of title is clean. In simple terms that means that the person or persons selling the real estate are the only owners of that real estate and therefore have the right to sell it. The lawyer will also check that the vendor has paid all outstanding debt or taxes owed on the real estate.
Once the final purchase contract has been agreed and is ready to complete, you will need to ensure you have sufficient funds available in Croatia before signing the contract.
If the Hvar property purchase is an existing structure, on signing a pre-contract, the buyer will pay a deposit, normally 10% of the total purchase price and agree a completion date, normally one month from the date of the signing of pre-contract. On this date a final main purchase contract is drawn up, signed by both parties in front of a notary and the outstanding balance paid.
If you are purchasing a new build property and are therefore buying off-plan on Hvar, you will sign the reservation agreement and pay a fixed deposit. The main purchase contract will then be drawn up and will include a number of strategic payments, usually a percentage of the total purchase price, payable on completion of key building phases.