Many foreigners are now realizing the benefits of buying real estate in Slovenia. There was a time when it was rather difficult to purchase property in this lovely European country; however, as of 2004 real estate laws have changed and there is no longer the requirement of reciprocity which in the past acted mostly to hold back some investors and private individuals from being able to acquire property in this charming location. Whether one was looking for a private residence, a business location or investment property, securing the Certificate of Reciprocity was often something that made purchasing property extremely difficult, if not impossible.
The Reciprocity Act required U.S. citizens interested in purchasing property in Slovenia to prove that Slovene citizens would be able to purchase a comparable property in the purchaser’s home state in the U.S. This reciprocity requirement was dropped when Slovenia became a European nation in 2004 and new laws were established.
Today, U.S. citizens, as well as individuals from other countries, can easily acquire properties in Slovenia. Anyone interested in purchasing land, a home or other types of properties in Slovenia should be sure that they understand the process and follow the necessary procedures required by law. One of the best ways to ensure that everything is handled in the correct way is to enlist the help of a local real estate agent.
A professional real estate agent, especially one who is experienced in working with foreign buyers, can provide a great deal of benefit throughout the entire transaction. The local agent will be able to help you find a property that best suits your needs and desires, but they will also be able to help you navigate the legalities and processes required under the laws established by Slovenia.
Typically, a client will work with their agent to find a property that they wish to purchase. Once a suitable property is found and you are ready to move forward with a purchase, your agent, the property owner and an attorney will work together to draw up the necessary papers. These papers are then taken to a notary who will place their official seal on the documents. Once you have the notary’s seal, the papers are ready to be submitted to the local Land Registry Office where the property will be transferred into your name and recorded in the Land Book.
Securing the necessary proof from the Land Registry Office that the ownership has been transferred into your name is the certification you need to verify the transfer of property. This can be a very lengthy process and working with professionals experienced in this type of transaction can certainly make the entire ordeal much easier and less frustrating, especially for a foreign buyer who may not understand all the local customs, language and other factors that come into play when undertaking any type of transaction in a foreign country.