Buying a property in Poland step-by-step

The process of buying a property in Poland is very different from the process in Britain or in the USA. It doesn't need to be overwhelming. It's actually pretty straightforward and typically it involves going through these steps:

1. Find out how much you can borrow

Check how much you can borrow in Polish banks before you begin your home search. Your income, credit history, expenses, the size of your down payment, and your employment and residence history are all factors in how much you can borrow.

Contact a good mortgage broker to get an idea of how much you can borrow. He or she will be able to search the market for the best available deal for you and to help you maximise your borrowing power.

2. Set your budget

Think about what you can afford to spend. You’ll need to budget and plan for:

• one-off costs, like a deposit, Stamp Duty, real estate agent’s fee, mortgage arrangement fee
• regular, ongoing costs, like mortgage payments, utilities and maintenance costs, home insurance, property taxes

3. Find a property

Property websites and estate agents are the main ways of finding property for sale in Poland. Some people use an estate agent, but you can also buy direct from the seller or real estate developer.

4. Sign a preliminary contract

If you have found the perfect property and agreed on all the terms and conditions of the sale, you can start your purchase process.

First of all, you'll need to sign a preliminary contract, which is a written contract of sale agreement in which the seller agrees to sell his property and the purchaser agrees to buy it. This contract will require a deposit and is legally binding (before you sign a preliminary contract, make sure that property has no legal drawbacks).

The preliminary contract will also specify a time frame for completion – by which time you must have funding in place.

5. Arrange a mortgage

After signing a preliminary contract you can apply for a mortgage. It’s important to start your mortgage application as early as possible to ensure that you don’t delay the completion of your purchase.

If you’re struggling to find the right mortgage deal, it is a good idea to enlist the help of a mortgage broker. They can research the market for you and help you through the application process so you don’t have to go it alone.

6. Sign a final contract

If the Mortgage Loan Agreement is signed, you can sign the final Sales and Purchase Agreement. In Poland the final contract between you and the seller must be signed in a presence of a notary, otherwise it is invalid. This contract transfers the property rights from the previous owner to the buyer.

7. Pay for the property and move in

After the final legal tasks are complete, your lender will transfer the rest of the money to the seller. When this is done, the property belongs to you and you can move in on the agreed date.