FAQ

Do I have to pay for a look?

Cheap Hungarian Cottages has a look at the chosen objects with you. We dispatch one day for you, free of charge. Any additional visits and the resultant costs are to be replaced, but are credited with completion of purchase. It is therefore important that you specify your wishes and ideas as soon as possible. Please also note, that we provide for agreed and failed tour dates, an hourly fee of HUF 10,000 (ten thousand HUF) plus 27% of Hungarian VAT. The reason is that we can assume no other clients during this period date. Please apologize, that we can not perceive hastily arranged appointments for organizational reasons.


How do I know the exact cost of the real estate purchase?

The Casa Mia Hungary Bt is the only real estate agent provides all interested parties online an accurate statement of costs including all expences at the current exchange rate. However, non-EU citizens (associated excluded) have to reckon with additional costs due to the necessary authorization from the County clerk. In addition, all interested parties get a pdf-file with an overview of all costs at initial inquiry. Before buying an accurate statement of costs on the basis of today's exchange rates is standard.


When do I have to pay the purchase price?
The Casa Mia Hungary Bt. usually requires the payment of the purchase price into an escrow account of our trust lawyers. The timing of the payment date is a matter for agreement. Otherwise there is the greatest possible freedom of choice in drawing up contracts. The individual contractual issues shall be addressed induvidulell under the mediation of Casa Mia between buyers and sellers.

How much is the service fee of Casa Mia?

The Casa Mia Hungary Bt requires a service fee of 3 percent of the purchase price, but not less than € 1000, - each plus 27% Hungarian VAT (= € 1270, -). The fee is calculated from the number of pitches, the number of sales contracts, the percentage fees and the minimum rate.


When is the service fee due?
The commission is due upon signing the purchase contract in cash.

What am I getting for my fee?
The fee includes the following services: Viewing of the choosen properties in the amount up to one working day (8 hours, including weekends and holidays). Organization of the entire purchase and transfer of the owner at the local service companies (e.g. water, electricity, sewage). Provision of land register extracts and maps. Organization and provision of an English speaking lawyer (standard), assistance in the purchase. Advice and checking the lawyer until the actual land registration. After buying we offer our customers a chargeable telephone hotline on agreed time. Here we answer questions of everyday life and translate in urgent matters on the phone. This service will cost you a monthly HUF 10,000 (inkusive 27% VAT). Any additional services are paid. Please check in advance what we charge for the desired performance.

Cheque, cash and ATM-limits.
Please make sure that you've enough cash with you. The solicitor, service fees and the additional costs have to be paid after signing the contract in cash. Cheques are not usual in Hungary and no authorised medium of circulation. The daily ATM limit is € 400.

Cash transfer into European Union.
Since 15 June 2007 new import regulations for cash transfer into the European Union are valid. During journeys into the European Union and from the European Union if cash in the value of 10.000 Euro or more is carried, a registration is compellingly necessary at the customs authorities.

Who much is the land transfer tax on real estate transactions?
The land transfer/stampf duty tax on real estate transactions is 4%.

When is the tax on real estate transactions due?
The tax on real estate transactions is usually prescribed by the SIGMA company Ltd. from Budapest by mail to your home address after finishing the process at the land registry.

Laywer or notary?
Unlike other European countries, in Hungary in real estate purchase processes laywers have a notarial function. In this case, none of the parties may be preferred. For that laywers are liable.

Can I loose payments?

In Hungary the contracting practice is to hand out Earnest Money to the seller (mostly approx. 10% of the purchase price). It's a part of the purchase price and guarantees the buyer that the seller stands to his promises. If not, the seller have to pay back the double sum of the given Earnest Money. If the buyer is in breach of contract, he shall lose the paid Earnest Money.


Can I authorize someone?
If you have enough time, you can sign a purchase agreement with a lawyer of our trust during your stay in Hungary. Advise and contract in English. In many cases, it's not possible to bring buyers and sellers at the same table in a short term. In this mandate is precisely defined, which property is on what terms Casa Mia on behalf of the customer to purchase. In this cases buyers authorize us with the management of the purchase. This mandate clarifys strictly, which object may be acquired at what price of Casa Mia on behalf of the buyer.

Can Non-EU-citizen buy properties?
Non-EU-nationals are allowed to obtain the ownership of a non-arable land only with the permission of the competent county government. This letter of consent will be given, if the acquiring is not conflicting the interests of public interests and those of the local government. It's usually just a formality. The period for completion is 30 days. For Non-EU-citizens the acquisition of arable land is forbidden.

Do I have do pay capital gains in cases of selling a property?
The capital gain is 16%. The taxable base for flats and houses is in the year of the purchase and the following year 100%, in the 3rd year 90%, in the 4th year 60%, in the 5th year 30%. Afterwards no capital gains. The taxable base for all other types of properties (e.g. holiday homes, commercial properties, farmlandland, building plots) is the first 5 years 100%, afterwards 10% less (each year). The period of paying capital gains is 15 years.

Can I buy farm land?

Currently the acquisition of agricultural areas (e.g. acres, vineyards, forest, meadows, orchard) by EU-citicens is possible until 10000 sqm. The purchase needs a special procedure and time (up to 6 months). The acquisition of farmland with title deed is not possible for non-EU citizens.