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A refundable reservation deposit of €5,000 is required to take the
required apartment off the market. This deposit is held in a notary
account in Montenegro and will only be released to Pluto Capital
once the full building licence has been granted.
Once the full building licence is received by Pluto Capital
(estimated September 2006), the next step is to sign the full sales
contract, which is a detailed agreement specifying standard and size
of finished units, delivery times and payment phasing. This legal
document needs to be signed in a Montenegrin court either by the
buyer or their representative (we can prepare the paperwork so that
you can appoint a representative to sign on your behalf).
We must ask that you sign the full sales contract within 30 days of
it being made available, (else the deposit may be forfeited). In the
unlikely event that full building licence is not granted, or for any
other reason the project does not go ahead, deposits will be
returned in full.
Parking spaces are available for purchase in the private, secure
underground car park, at a cost of €8,000 each.
There are four staged payments throughout the construction period of
the development:
|
Payment |
Event |
Amount |
Timing |
|
1
|
Signing Full Contract |
30% (inc. deposit) |
From September 2006 |
|
2 |
Foundations completed |
30% |
February 2007 |
|
3 |
Roof completed |
30% |
May, June 2007 |
| 4 |
Hand over of
keys |
10% |
December 2007 |
Additional fees
In
addition to the prices quoted above there are couple of minor fees
the buyer will incur.
-
Legal fees, payable directly to the lawyer, around €500 - 600
-
A fee of 3% payable direct to your
estate agent
-
Transfer
tax of 2% payable by the purchaser on all property transactions
in Montenegro
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