Are there any extra charges when purchasing a property?

When purchasing a property there are always some extra fees on top of the final purchase price. The main fees will be the purchase tax (stamp duty) which is 3% of the value of the property and then the notary and lawyer fees. The notary fees vary depending upon which notary you use and also the value of the property. This is usually on average between 400€ and 800€ euro but can be more if the property price is a lot higher. The fee for the lawyer usually starts at around 1,500€ but depends again on how much you want the lawyer to do. Another charge to be aware of is any bank charges if you are transferring money from another country into Montenegro, these also vary depending on the country and the bank. When signing the contract, if the buyer is not from Montenegro and does not speak the language then a translator must be present, this fee again depends on the translator used but can be anything from 50€ an hour. A translation of the contract is also necessary and can be anything from 15€ per page.

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