One Mistake When Buying an Apartment Can Ruin Lives for Generations
Notary public Vjekoslav Arambašić explained in detail on the Studio 4 show what citizens must pay attention to before signing a real estate purchase agreement.
Notary public Vjekoslav Arambašić explained in detail on the Studio 4 show what citizens must pay attention to before signing a real estate purchase agreement.
Buying real estate is for most people the largest financial transaction of their lives, but a process that seems simple at first glance hides numerous pitfalls. Vjekoslav Arambašić, a notary public and member of the Management Board of the Croatian Chamber of Notaries, warned about these on the Studio 4 show on Croatian Radio Television.
"One mistake with a property can have a generational impact on problems that will arise later. That's why, although it seems relatively simple, this is a process where you have to be very careful and pay attention to what you do and how you do it," Arambašić said for HRT.
One of the first things buyers must understand is the difference between cadastral data and land registry data. Arambašić explains that the cadastre provides information about the location, shape, and area of a plot, while the land registry reveals the legal status of the property, including ownership and any encumbrances.
"The cadastre provides data on location, shape, and area, while the land registry shows the legal status of the property. I think citizens should be further educated on this. Active participation of the owners in the entire process is necessary," he emphasized.
When a potential buyer finds the desired property and secures financing, the first concrete step must be obtaining a valid land registry extract. This document reveals key information about the registered owner.
"You must have a valid land registry extract from which a lot of data is visible, to see if the currently registered owner is registered with all valid details. If not, it is necessary to identify who the registered owner is," Arambašić explained.
An additional complication can be the fact that for many properties, the owner's personal identification number (OIB) is still not registered in the land registry, although its introduction has greatly simplified identification.
Before finalizing the purchase, it is necessary to check whether there are any registered encumbrances on the property, such as mortgages or easements, as well as potential issues related to marital property. Arambašić advises that the documentation about the building itself should also be checked.
"It is necessary to see if the property has a use permit, an energy certificate, who is registered as the owner, partial owner, and so on. At first glance, everything may seem fine, but an analysis must be carried out," concluded the notary public.
