You are looking to buy a new apartment or house? You are considering investments for your retirement or for your children? You have so many projects! You have just as many opportunities to get financing. Before making a final decision in the first place it is important to be informed and advised. This will help you better navigate your choice and find the best- the appropriate way to finance the transaction.

Key moments when buying a home:

1. Plan your budget:

Before planning your home purchase project and proceeding to its selection, it is important to note the following:

• Determine your financial capabilities and initial funds, that you have.
• If you do not have the full amount for the purchase , perhaps you will choose financing through a bank loan.
• In this case, make a list of your monthly expenses, including large annual expenses such as taxes, holidays etc.
• bear in mind , that apart from the cost of housing, you will have additional expenses - fees at the time of purchase, for credit, etc.. Our brokers can help you by calculating the costs for this.
• Calculate what monthly amount you can set aside from your budget for repaying the bank loan.
• The most important factors that determine the possible amount of the loan are your income, the term of the loan, the value of the property, which will be mortgaged .

2. Choosing a suitable home:
   • Choose clear criteria for the property you are looking for. Location, type of construction, number of rooms and others, which you should share with your broker, so that he can select the most suitable offers for you.

3. You have already chosen a home
   • Trust your broker, who knows the property in detail, his story, the reasons for the sale, how long the property has been on the market, etc.
   • The broker is a professional, he knows how to get you a good price for the property.
   • Once an agreement is reached on the price, the next step is to sign a PRELIMINARY AGREEMENT in which all the steps to the finalization of the transaction are indicated.
   • Your agency is the one, which will prepare the necessary documents for the finalization of the transaction.
4. Finalization of the transaction and transfer of the property
   • The whole process of buying a property ends with the confession of the transaction.
   • This is done at a notary, who checks the regularity of all documents. After that, he certifies the transaction as completed and arranges the transfer of the property. The new title document is entered in the state registers.
   • When a bank loan is used for the purchase of property, for its security, a mortgage is established in favor of the bank. The mortgage is also carried out at the notary on the day of the sale, as the document is also entered in the state registers.

5. Utilization of the loan

• Once the established mortgage is entered, the bank disburses the funds from the loan to your account, so that you can pay the seller the full amount of the agreed price. The amount you received, is transferred to the seller's account.

6. Good to know
   • You can sell the home at any time, acquired on credit, and transfer the property to the buyer without any problem. You only need to notify the bank in advance of your intention. The buyer to transfer to the bank's account the remaining balance of the loan principal. After repayment, the bank will foreclose on the property and the buyer, will acquire it clear of material encumbrances.