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30 Jul 2015
Real Estate / How to buy an apartment in Poland - can I pay in full cash? [20]
you should be OK but just make sure both the notary and seller know in advance you are not taking bank finance and that you have proof of funds with you when you go to the notary.
I once had a very bad experience with that - negotiated for a building, at the last minute decided to pay cash and not take finance (it was taking too long to arrange). When I got to the notaries we got in a bizarre Mexican standoff - I would not transfer the money until the akt notarialny was signed and they would not sign it until I transferred the money - obviously an individual's promise is worth less than a banks and the notary instead of being independent decided to funish them with lots of tales from the 90s of people who had lost their houses that way. It took about 9 hours to resolve - including showing them my bank statement, putting my bank manager on conference call etc.
If you don't speak Polish then I would take a lawyers advice - will only cost a few hundred zloty.
you should be OK but just make sure both the notary and seller know in advance you are not taking bank finance and that you have proof of funds with you when you go to the notary.
I once had a very bad experience with that - negotiated for a building, at the last minute decided to pay cash and not take finance (it was taking too long to arrange). When I got to the notaries we got in a bizarre Mexican standoff - I would not transfer the money until the akt notarialny was signed and they would not sign it until I transferred the money - obviously an individual's promise is worth less than a banks and the notary instead of being independent decided to funish them with lots of tales from the 90s of people who had lost their houses that way. It took about 9 hours to resolve - including showing them my bank statement, putting my bank manager on conference call etc.
If you don't speak Polish then I would take a lawyers advice - will only cost a few hundred zloty.