• If you are not buying as a private individual you should set up a local company and open a bank account. To set up a company in Hungary you will need a company name, registered address and shareholder details).
• Information required to draw up a contract is as follows:
- Details of the apartment.
- Full names of both the buyer and the seller as well as mother’s maiden names.
- Residential addresses of buyer and seller (registered office address in the case of a company)
- Place and dates of birth of both buyer and seller
- Passport or ID card numbers of buyer and seller
• A 10% deposit is paid in cash on signing the contract. You will need to ensure that the money is in Hungary and available for withdrawal (allow at least ten working days for an international bank transfer).
• If one of the parties is not in Hungary, contracts may be signed at the Hungarian Embassy in the country of residence. Original documents sent by international courier can take 3-5 days to arrive.