The procedure for registration of real estate in Egypt is quite simple.
Egyptian law allows foreign nationals to acquire ownership of residential and commercial property in the country, except for some objects. They are objects of historical value and architectural monuments. Foreigners have the right to purchase any real estate in Egypt, whose total area is 4000 sq.m.
Land in Hurghada can also be purchased by foreign investors in the property without any restrictions.
The procedure for selection and registration of rights to real estate in Egypt is carried out according to the following mechanism:
First. Selecting a property in Egypt for sale.
If you are in Hurghada, you can call the realtor real estate agency in Egypt +2 0128 755 0818 at any time you like. We work 24 hours a day, 7 days a week.
With the assistance of Akar Real Estate, our customers can make a purchase remotely, from the comfort of your home.
Step Two. Organization viewing property in Hurghada.
If you are traveling to Egypt for the purchase of real estate, it was previously reported to us arrival time and free time. At the appointed time, we come to the hotel or apartment where you live in Hurghada. We inform you about our arrival, pick up you and head to view the properties in Hurghada.
Step Three. The contract of sale of real estate in Egypt.
Once you have selected a property in Hurghada you get a contract to buy an apartment. For the conclusion of the contract of sale of real estate in Hurghada, the buyer must have a valid passport and amount of the reserve of $ 1,000. This deposit guarantees the buyer that the contracted apartment in Hurghada will not be sold to others within the specified period. Buyer for its part agrees pay the balance value of the apartment in the designated in the contract term.
The reserve has a validity of 1 month. At default the buyer responsibilities for the remaining amount for the purchase of an apartment in Egypt, the contract is terminated.
If the buyer pays the full cost of the apartment gets the main contract for the purchase of an apartment between the seller and the buyer.
The contract is concluded in two languages: Arabic and identical text language of the buyer and must contain the following conditions:
-Names, passport number, nationality of the buyer and seller / builder;
address of finding a buyer and seller / builder;
the sum of the deposit, the total price of apartments in Egypt and payment schedule payments in the event if the property is sold in installments;
-Information about the apartment, showing the location. With the purchase of housing under construction - always having a plan of the apartment - its position in the project of building an apartment house in Hurghada.
-Bank details of the seller / developer. Contract should also contain information about registering as an organization and the developer license, if the housing is acquired on a primary basis;
-with the purchase of the object under construction in the contract also specifies the terms commissioning and transfer to the buyer, the guarantee for the buyer;
And other conditions. The contract is made in any form. The terms of the transaction the parties can modify in its sole discretion and agreement.
Payment Options apartment cost:
- By bank transfer to the account of the seller of real estate in Hurghada.
After full payment of the cost of the apartment is made Taukil, general irrevocable power of attorney that is issued by the seller of real estate. This document confirms full payment of the cost of apartments in Egypt and confirms the ownership of the buyer. Registration of the contract takes place in the office natarialnoy "Shahr El Akari".
At all stages deal Akar Real Estate represents the interests of the buyer, and checks the correctness of the legal side of the transaction.
Step Four. Optional. You can register the contract in a court of Hurghada.
The fifth stage. Optional. You can make a Green contract. Terms of its design are not limited to the laws of the Arab Republic of Egypt. But in practice, this procedure lasts from 6 months and over.