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Lithuania real estate agents

Advice Buying Properties For Sale Lithuania Real Estate Property Buyers Guide



You have found a property you wish to purchase in Lithuania what next?

Lithuania propertyLithuania property Buyer's Guide explains the legal fees, legal procedures, purchase taxes and mortgage procedure.
Purchasing Lithuania property.

The good news now is that foreigners rarely get fleeced when buying properties in Lithuania, a member of the European Union.
The procedure of Lithuania property purchase isn't as rigid as in the older countries, it is relatively straightforward.
Unlike other countries where an asking price can be a starting figure in Lithuania the asking price is usually very close to the selling price if not the actual price itself.
There is a building boom in Lithuania with estimates of some 3000 properties per year needed to keep up with demand; with so much real estate growth going on there isn't much room to haggle.
Your Lithuania estate agent will assist you with finding your ideal Lithuania property, he will know what properties are for sale and with his knowledge of the Lithuania real estate market you will avoid any surprises.
I.e. if you purchase in a city that property may be under a Lithuanian National Heritage protection which limits what improvements can be made.
If purchasing a home in the countryside beware:
There are laws which prohibit construction on riverbanks and lakeshores. If not aware of any of these, the property purchase price will only be the beginning of your investment.
Your agent in Lithuania will assist you in getting you an expert to look over the structure, this is important for both new and old properties.
The need to know the condition of an older property is obvious.
And with new builds, your expert will confirm that everything has been constructed as it should be and as per the plans.
By law in Lithuania new property is guaranteed for 5 years with 10 years for pipe work etc.

Purchase Costs in Lithuania
The public Notary
plays a significant part in Lithuania purchase, their fees are fixed by the Lithuania state and vary between one half to a full one percent of the purchase price and are the main cost of property purchase.
In all countries ask questions about state taxes on the property purchase, taxes, and land registration costs.
And if any vat taxes (18% in Lithuania and all Baltic States) are incurred they should always be included in the selling price Lithuania has no property taxes at the moment, the land tax amounts to 1.5% of the nominal value.

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These guidelines are meant for guidance only and describe straightforward purchase scenarios. However this information is not meant to replace proper legal advice, which we always insist you take.



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