Poland — Property: Buying Process

Key facts

• Developer contracts name the parties, date, price and the developer duty to establish separate ownership of the unit; price is usable floor area times price per square metre.
• Buyers pay into a developer escrow account after each construction stage is completed.
• The buyer accepts the unit by protocol, which can record defects, and transfer needs a notarial deed and entry in the land and mortgage register.
• The 2% civil law transactions tax is collected by the notary; condo-hotel units are commercial and mostly outside the Developer Act.

Steps

1. Step 1: Finding a Real Estate Agent — It is highly recommended to work with a licensed real estate agent who is familiar with the local market and regulations. However, there is a lack of information available on how to find and hire an agent, or what to expect from the agency agreement.
2. Step 2: Searching for Properties — Properties can be found through real estate agents, online listings, or word of mouth. However, there is limited information available on the typical types of properties available, or the average prices for different areas.
3. Step 3: Viewing Properties and Making an Offer — The process of viewing properties and making an offer is not well-documented, and it is unclear what to expect in terms of negotiations, contract terms, or other aspects of the offer.
4. Step 4: Completing the Purchase — The purchase process involves signing a notary deed, transferring funds, and registering the property in the buyer's name. However, the exact steps and required documents are unclear, and more research is needed to provide accurate information.