Freehold properties are available in Hurghada, and when purchasing from a new development the price is often set without negotiation. However, when purchasing real estate in Hurghada from reselling, there is often room for price negotiations.
Many Egyptian real estate owners / developers prefer cash. More beneficial payments for buyers often mean a discount of about 5% discount and can include long term credit agreements in repayment.
Once you have paid your property in Hurghada and the validity is confirmed or registered by the signature of the validation process, we will receive the green contract which is the contract given to you from the Egyptian court. This only applies to freehold properties.
When purchasing real estate in Hurghada, it is necessary for buyers to know that there is an additional charge called "buyer fee". This is an additional fee for the agency to process the transaction for you and is a normal procedure. Rates can be set in the range of 1.5% to 5% depending on the area.
When purchasing real estate in Hurghada it is necessary to start the process of recruiting Egyptian lawyers.
Contracts with attorneys must always be in both English and Arabic, usually with deposits at this stage.
Acts on your estate in Egypt are assigned to you at the Land Registry and the cost of this property is up to 2000, 00 EGP, approximately 175 Sterling (as of June 2008).
When purchasing real estate in Hurghada, you need the entry visa required to complete the residence procedure in Egypt. You can go to the court on behalf of the lawyer and register real estate. Also, you must apply for a temporary entry visa valid for one year usually.
When purchasing real estate in Hurghada, there are two steps to first select complete signature and signature of the second most effective procedure. Registration of property provides maximum security based on Egyptian law.
However, even in the Egyptian area where foreigners can purchase freeholds, they can use authenticity signatures instead of registration.
Although this information may seem to be hard to digest, it is much simpler than it actually sounds. If it was a difficult process, real estate Hurada from a foreign investor has no enormous investment like growing on a large scale every year.
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