How about procedures?

Like on other areas it needs to be said that Slovenia has very strict regulations regarding property sale. Every estate agent needs to get a license which isn’t easy to obtain. Many smaller agencies had to close their offices, because they weren’t able to cope with the new legal situation. It brought a lot of extra worries for agents but at the same time much more safety for the clients. Every agency also needs a policy for its responsibility in business affairs in the amount of 170.000,00 EUR for a single case and 340.000 EUR overall insurance.

Before putting the property in offer every estate agent has to check the documentation, with which the security of the sale is ensured. All property sales must be carried out via a notary in Slovenia. The property procedure can be done in 2 ways. Either the contract is conducted by a lawyer and translated into English by a legal translator, so only the seller needs to verify his signature at the notary (buyer’s copy of the passport is enough) or the contract is conducted and read out loud by the notary and is called notarial record. The legal translator translates simultaneously. Open discussion is still allowed. The notarial record is more expensive but in many cases most welcome as the notary is responsible for the content of the contract and also some very important parts of it like the payment part and handing over of the property can be executable, which means if something goes wrong you don’t need a lawyer to prosecute the other party on court for not fulfilling the agreement but can simply ask for execution which is done by an executor. You just cut some possible extra expenses and lots of time if something goes wrong.

Let’s say you come to Slovenia as a buyer from abroad and you find a property which you fall in love with at first sight and you want to buy it desperately and all you have is a few days left in Slovenia. What can Slovenian coast you do? You can sign a precontract at the agency and come back for the final contract or you can sign the final contract with suspensive conditions and finalize it all. If all the suspensive conditions get fulfilled then the contract is valid, otherwise it goes apart and the parties agree what happens in a case like this. Normally the suspensive conditions always go through because they are just a matter of procedures.