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Much the same is true of real estate taxes, which are levied on the property itself and not the individual owners. Contact the Real Estate Tax Authorities and ask if all taxes are paid up-to-date, otherwise they’ll be your responsibility once the transfer is made.
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At this point, you’re ready to execute the sale and purchase agreement. Egyptian sellers may provide this in Arabic, not including all the necessary checks, guarantees and protections. Make sure you have a bilingual agreement drafted and that it’s absolutely comprehensive, as this can save you a huge amount of problems down the line.
Finally, you’re ready to register the purchaser’s title, which is designed to protect the buyer against future third party claims on the property. Normally, once the price is agreed (remembering, of course, the 3% fee on top) and the agreement is signed, this is done through the Real Estate Department and the Public Notary. The time scale ranges from three to six months.
In some circumstances, you may need to register the property through the courts with a ‘Claim requesting confirmation of the validity of the sale’. If the seller cooperates, then this should also take no longer than six months.
The process may sound long-winded and difficult but, in fact, it is barely more complicated than that of European countries; as ever, if you use a bilingual, locally-based solicitor with a sound reputation, then it should be a breeze. Usually, buying off-plan also simplifies many of these aspects and your developer or agent can advise you as to a suitable and trustworthy law firm.
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