Atch
23 Aug 2021
Real Estate / Buying property in Poland [41]
When you decide to buy a property in Poland, you pay a deposit and you agree the amount of that deposit with the owner. It can be as little as ten percent, which is actually quite usual. Fifty per cent is a bit much and I certainly wouldn't pay that much myself. The reason some sellers want a big deposit is because they are worried you might pull out of the sale and they think that if you agree a large deposit, you are more likely to complete the sale. It's quite normal for the deposit to be paid directly to the owner but you can ask to have the deposit held in an escrow account through a lawyer or notary. The important thing is that the terms on which you pay the money and anything else you agree is clearly stated in the preliminary contract and that the contract is drawn up by a notary or solicitor.
There are two types of deposit contract, 'zaliczka' and 'zadatek'.
With zaliczka, either of you can pull out of the sale at any time before completion and you'll get your deposit back. With zadatek, if you pull out you lose your deposit and if the seller pulls out, he will have to compensate you with double your original deposit.
As for six months to complete sale, about two to three months is more usual and I would want to know the reason for such a long delay.
To sum up, there's nothing illegal in what the seller is requesting but it's far from ideal. I would say that you should consult a Polish lawyer as you seem a bit unsure of what you're doing and it's a lot of money to risk.
Finally, if you're not Polish, you need to have a 'sworn translator ' to look over all documents and be present at any legal transactions. Even if you speak Polish, if you're not actually Polish, you must have this.
When you decide to buy a property in Poland, you pay a deposit and you agree the amount of that deposit with the owner. It can be as little as ten percent, which is actually quite usual. Fifty per cent is a bit much and I certainly wouldn't pay that much myself. The reason some sellers want a big deposit is because they are worried you might pull out of the sale and they think that if you agree a large deposit, you are more likely to complete the sale. It's quite normal for the deposit to be paid directly to the owner but you can ask to have the deposit held in an escrow account through a lawyer or notary. The important thing is that the terms on which you pay the money and anything else you agree is clearly stated in the preliminary contract and that the contract is drawn up by a notary or solicitor.
There are two types of deposit contract, 'zaliczka' and 'zadatek'.
With zaliczka, either of you can pull out of the sale at any time before completion and you'll get your deposit back. With zadatek, if you pull out you lose your deposit and if the seller pulls out, he will have to compensate you with double your original deposit.
As for six months to complete sale, about two to three months is more usual and I would want to know the reason for such a long delay.
To sum up, there's nothing illegal in what the seller is requesting but it's far from ideal. I would say that you should consult a Polish lawyer as you seem a bit unsure of what you're doing and it's a lot of money to risk.
Finally, if you're not Polish, you need to have a 'sworn translator ' to look over all documents and be present at any legal transactions. Even if you speak Polish, if you're not actually Polish, you must have this.