Apartment purchase in Poland

So its a Polish thing too.........agreed price, about to sign.....then out of no-where a new bidder?

A real one?

What is the market like at the minute, what are estate agents saying, word in the press?

yeah - had made lawyers appointment to draw up contracts with vendor - phoned to check she could make it ok - she told me she had sold to someone else... nice of her to phone me earlier... so i burnt her house down...

good buys go before you can pick up the phone to make an appointment... its what i meant about insider information in an earlier thread...

not so good buys can sit and drag...

obviously that bit about burning the house down was a joke...

Yeah...it may have been, but you sound ...how shall I say, quite pissed off!!!...:(

Did she say how much more she sold it for, or was it a "too good to be true" bargain in the first place?

So Jasiu...effectively you are saying its all word of mouth or how do you get into the inner circle?

Frank - I am over here to invest in property for a fast return... renovate and flog etc... this house was a different matter... i wanted it for myself... lake side garden, downstairs appartment, attic for conversion, 20 mins to the airport, 20 mins to the centre, 20 mins to the beach, next door to my friends.... sniff...

it wasnt *too good to be true*... it needed a lot of work doing to it and was a longterm project... she had had good offers but i said i would pay cash quickly and she accepted verbally... i said fine, let me do a quick survey... she said no probs but then accpected another offer... oh well...

is it all word of mouth...? yes and no... you will see bargains in the paper and on the internet but they go so quickly that sometimes they are gone before you phone up... the inner circle comes through developing contacts who will give you the nod before places get on the market...

I think that krakow is getting crazy- my friend who is civil engineer and works for building company says that in Krakow some developers sell flats for 2009!!!!

Guys, one of the main reasons to buy soon is due to the current lack of pressure on housing stock, ie a significant number of people who may have wanted to buy or rent have left the country....temporarily.....so now is the time to move when the market is mostly, ticking over, ready to take off when the emigrants begin to return in 1-2 yrs time....mark my words!

Frank,

That's not the way it is. Iwona is right when she is talking about the market. People here, for the past few years, have been buying flats before they are built and when they get the keys they have been selling them on for huge profit.

Also, here in Wroclaw we have up to 100,000 students and where possible parents are buying property for them.

Wroclaw, I did say mostly, I am sure there are hot spots, select cities, towns districts and then places in certain cities etc ( and yes, new housing stock, would seem much more attractive), but other areas must be in the doldrums, 1-2 million people cannot have left the country , even temporarliy for it not to have impacted....or was there always a housing/flat shortage?

Apols for my overseas lack of grasp on the local market place.........for the moment......lol.............decision....is almost made!

Frank,

I would say that small flats move quickly. Houses would move slower.

The best place to find a bargain is in the countryside. But village life is not the same as in the UK. If you buy in the country it will be difficult to make a quick sale because your client will be considering communitations to the city.

That said. Most married people here are looking for new property, usually houses, about 30km from the city centre. That's where the new higher quality housing is.

When I was in the building game many years ago the company I worked for would build a housing estate and then people would come and look and then buy. That doesn't happen here. Most houses are built to order by small to medium sized building companies.

Yes, judging by Jasius post, there does appear to be an inner track/circle, where its best to try and garner info from, but am not sure how that can be done!

But as per previous posts, am interested in the centre of town locations...we will see!

Frank,

Have you found any web-sites with property in Wroclaw.

Wroclaw, is this a trick question or are you checking if I've come of age vis a vis the seriousness of my quest.......lol.....hold on, will check my url listings.....

homesales.pl/search.php?id=2

mamdom.com/searchpows.php?selllet=sprzedam&wojcode=dolnos&typ=mieszkania&u_usern=&u_userp

oferty.net/mieszkania

mls.com.pl/mieszk_en.html

allegro.pl/20782_nieruchomosci.html

krn.pl/szukaj_nieruchomosci.php?ireg=1&am=Wroc%B3aw&akc=1&ryn=2&obi=1&pll=&plh=

anonse.pl/nieruchomosci/sprzedaz/mieszkania?brak

and thats about it, some are in Polish, which means I didn't fully understand how to access the information, let me know if they are useful or how best to proceed!

I meant: have you found any 'good' web-sites. I know you have addresses because some of them are posted on this thread.

Not a trick. Just me not thinking.

Lol..........no accusations of your tricking me W., just pulling your leg!

Those are all I have, sorry, any other thoughts?

Do you need a translation for the requirements section ?

If so I'll get it for you tomorrow.

Well, as per our e-mails, more inclined to go with local knowledge, as we talk/type/post, am firming up dates mid next month.

But anything you think is of use let me know, thanx, Frank

Just had this newsletter delivered to my inbox.......all correct guys?...........see section copied below....;

What Are The Standard Legal Costs When Buying Property?

You must use a licensed notary to conduct all contract agreements, signed in the form of notary public acts. A notary charges roughly 2% and it is worth noting that fees are capped at a designated level, so there is a threshold.

The notary publics will inspect the contracts and will conclude that the contracts to be signed conform to the Law. Foreigners are advised to hire a lawyer to represent them as notaries are merely acting as intermediaries between the two parties.

Who pays for the legal fees?

The good thing is that the buyer usually has the right to pick the notary, but this also means that the buyer should cover the fees. This should come as a relief more than anything as you’d be the one putting money down. The standard costs of real estate transfers are following:

- notary public fees
- costs of registering the legal title transfer in the perpetual book
- costs of registering eventual mortgage in the perpetual book

These costs are capped, but we cannot put an exact figure on these as it depends on the value of the property being purchased.

sounds as tho things are moving forward for you Frank... good luck!

Jasiu...thanx for that , but am a "newbie" in the Polish property market.....am just ready to test the waters now...!!..regards, Frank

PS Keep us all informed of your dealings though!

This all procedure is not much different than in Uk.
Maybe difference is that in UK mainly lawyer does some jobs for you.

But I still think taht in UK they r....p off people more with charges, fees.....than in Poland. So good luck.

At the moment it appears the process is a bit more complex in Poland, but will find out soon enough!

it is as you have to do more on your own. But it give you some satisfaction in the end.:)

Im looking for an apartment with two bedrooms, living room litchen and bathroom near the centre of Rybnik. How much do you think that would cost?

I would guess -- about $US 100K (?) for a 70 m2 apartment.

it depends how big- 2 bedroom could be also about 50m2

Brian, there are a few web addresses on a few of the posts, go back a few pages and do a search....good luck!

PS Wroclaw.......can you e-mail me?

Something around 50m2 ?

I found on : ibon.pl/szukaj_ofert.php?id=1

52m2, Rybnik centre , second floor- 66 thousand pln. This is about £11-£12K

So cheap comparing to Krakow!!!!!!!!

I will have to pay for 40m2 1 bedroom about £40 K.

This rule of paying 19% on profit when you sale, has certain feature to it. When you sell and buy another property you don't have to pay the 19% tax on profit.

when you register a property as your permanent address for 1 year you dont pay tax on your resale profit either

Please see this link for numerous real estate offices across the country......

euroinformator.pl/katalog_firm/eng/075-1.html