Buying property in Montenegro

@Christine you can buy whatever you want in Montenegro. I can connect you directly with owners, and legal part is easy, you have to pay tourist yearly tax which is small. And best of everything is that you don't need visa for our contry. If you need more help, my email is ***

@Christine You can buy whatever You want in Montenegro. I can connect You directly with owners for free. Legal part is not hard, You have to pay yearly residence tax which is small amount, and yearly tax on property (depending on the size of property). For anything else, i can ask about. The best thing is You don't need visa for our country.

Hi,

I'm  in the  process of buying a house and the estate agent have asked that I send the deposit for the reserve to the personal bank account of the CEO.  They've said that any money that goes into the company bank account will be charged at 21%, so they get around this by having the money go to a personal account. This is then detailed in the property reservation document.  Is this correct/?

As in the UK if a company asked you to send money to a personal account that would normally imply a scam. But the estate agent looks to have been operating for a number of years and have reasonable reviews.

The estate agent is [link moderated]/

Thanks

David

This type of practice is not unusual in Montenegro. 

If that amount represents roughly the commission that the agent would normally get from the property seller (c. 5% of the value of the property), then that could be a way for the agent to be paid its agency fee while avoiding taxes...

However, normally, the deposit should go to the property sellers' account (sometimes the notary account) and the agent should normally be paid AFTER the sale is completed and paid in full or at least the deposit + first instalment...

Do you have more details about this?

Hi of course you should not send on a personal bank account !!! at least on a business account upon signed pre contract.

in did it looks like a scam, whatever the company could be big or not, small scam can work and if there is any issues you won't see your money. i'm curious to see who is offering this

funds can be sent by pre contract also to  notary, I would not send anything, don't worry , your estate won't be sold, there is a lot for sale here.

@Tsarine

Hi.  Thanks very much.

Yes it would make sense for the notary to hold the deposit.

There is debt on the property which I'm awaiting confirmation on whether the owner will pay it or for it to be deducted from the asking  price

You asked for more information.  What details would you like?  Thanks

There is debt on the property which I'm awaiting confirmation on whether the owner will pay it or for it to be deducted from the asking  price

-> then don't make a pre payment

@fredouille1973

Is it possible to make a prepayment to the notary to take the property off the market while it's being decided if he will pay the debt or take it off the asking price?

Thanks

I don't know, I mean if you pay a deposit , there must be an agreement saying the transaction shall be executed IF the debt is paid, if not deposit returned. welcome to Montenegro

I would not loose time on complicated stories like this, is any issue, wait issue to be solved and make the transacton in 1 time without pre payment when all is clear and clean.