Poland » The Purchase Process

A foreign national is permitted to purchase and own real estate in Poland. With that said, a foreign national must obtain the permission of the Ministry of Home Affairs of the Republic of Poland in advance of purchasing real estate in that country.

There has been an enormous upsurge in investor interest in Warsaw real property in the last few years. People from all over the world are investing in the city. The prices of real estate are still relatively reasonable with good upside potential. Buy as an investment, a weekend getaway, or as a primary residence.

The hospitality for which Poles pride themselves is reflected in official regulations governing the rights of foreigners to stay in Poland. They allow every person to cross the border, regardless of skin colour, religious faith or social and political views. Foreigners wanting to legally visit Poland should make their way to a Polish diplomatic outpost in their own country, where they will be given full information on the rules governing their visit to Poland. Foreigners can buy an apartment, but special permission is needed for other properties. EU membership may boost the market, which has been static for two years. Much depends on Poland’s sluggish economy, whose largest trading partner is Germany - currently in the doldrums itself.

In general, EU citizens will no longer have to obtain a permit from the Minister of Interior in order to purchase real property in Poland, subject to certain exemptions and derogation periods negotiated by Poland in the Treaty of Accession.

The process of acquiring real estate is well established. Buyer and seller negotiate conditions. Typically, the purchaser will lodge the purchase price in a notaries or escrow account to which the seller will have access only after the Purchaser is registered as the new owner.

The purchase process for property in Warsaw is that Property in Poland will collect all necessary information from you and the vendor. You may be asked for your name, surname, address, civil status, address for correspondence, passport number. Any price negotiations and conditions of the purchasing process should be established now.

Signing the deeds for married couples, according to the local law, it is necessary to co-sign any purchase/loan documents. The following documents will need to be signed:

• Pre-Sale Contract - usually required by banks before granting the mortgage. It describes the Property you wish to purchase, the vendor and the terms  of buying, i.e. Price, time and conditions for closing the deal.
• Loan Agreement – should be signed locally, in the bank. After all documents are verified by the bank. 
• Final Contract of Sale – the documents which gives you full rights to the Property you buy and transfers ownership to you.

All documents should be signed and co-signed by a spouse in Warsaw. As the Pre-Sale Contract is signed first and the Final Contract of Sale is signed after a few weeks (your mortgage is sorted out in the meantime) it is necessary for married couple to arrive in Warsaw twice. In order to avoid additional travel, and have the documents signed; it is possible to grant a Power of Attorney.