Buy a house in Latvia safely, profitably and without stress is only possible if you know a number of nuances that need to be taken into account before starting the transaction process. Fortunately, today true professionals can help you understand all the nuances and purchase a house in Latvia.
General information about houses in Latvia
In modern realities, all state bodies of Latvia maintain a favorable environment in the real estate market. This contributes to attracting a large number of investors, among whom leading positions are held by investors from Russia. To date, foreign citizens, both legal entities and individuals, have the right to acquire the following types of real estate in their ownership:
- apartments and flats;
- buy a house in Latvia or a villa;
- land plots that do not fall under an official ban.
The following types of real estate fall under an official ban:
- land plots used for agriculture;
- forest zones;
- dune plots;
- territories located near the border.
Consult with us now and get more information about real estate in Latvia
How to verify the legal clarity of a house
Before you buy a house in Latvia and sign the first documents, you need to verify the legal clarity of the house. This process does not take much time and can be carried out directly in the office of the company that handles the sale of this property. During the verification you need to get answers to the following questions:
- Were all the rules for building a house on this land plot fully complied with?
- Is there a registration for this house in the Land Register?
- Has the property tax on the house been paid in full?
- Is the house not pledged as collateral in a bank?
- Are there no arrests and bans on the house?
Call now and learn in detail how to verify the official clarity of a house
Proper contract conclusion
According to the law, before you buy a house in Latvia, you must conclude a contract of the established form, which is regulated by the legislative framework. The contract specifies the details of both the seller and the buyer. It is worth noting that the bank accounts of the transaction participants can be both Latvian and foreign. However, real estate market specialists recommend opening an account in a Latvian bank.
It is possible that the conclusion of the contract may be accompanied by the deposit of a certain amount. The money is needed to reserve the house. In the situation where the buyer is ready to pay the full amount for a house in Latvia, one main contract is drawn up that confirms the transaction.
For safety, the money for the purchase is transferred not to the seller's account, but to a so-called transaction account or to the notary's escrow account. In such an account, the money is held during the period when the documents go through various authorities. After the registration of the buyer's property rights in the Land Register, the money from the transaction account or from the notary's escrow account is transferred to the seller's account.
In connection with this, simultaneously with the purchase agreement, a transaction account agreement (through a bank) or notary escrow account agreement is also signed.
Qualified assistance from KOM-INVEST
By contacting KOM-INVEST, you will be able to find in its employees reliable assistants who will help not only in drawing up all official documents, but also in a profitable purchase of a house in Latvia. To settle all issues, you need to come to Latvia once to familiarize yourself with the house, sign the documents and execute a power of attorney.
Based on the executed power of attorney, the lawyer of KOM-INVEST, knowing all the nuances of buying a house in Latvia, will be able to quickly and efficiently complete the initiated transaction. As a result, you will receive at your disposal a comfortable house in Latvia at an amazingly favorable price.
Write today and leave a request for a free consultation
Phone number: +371 29774775
Email: info@kominvest.com
Skype: KOM-INVEST