How to buy land in Romania
SC Taltos Ltd. is a private Romanian Company with head-office based in Oradea City, Romania and Gol City, in Norveg, Scandinavian.
We are agency specialized in transactions of rural properties, forests (woodlands) and farming land.
Our Company has several great opportunities to invest in Romanian farming lands and forests.
SC Taltos Ltd will find for You large surfaces:
1. Through a process called "comasare" (compacting). It means the compacting (or consolidation) of many small plots of land into one large property with a proper ownership document.
2. Purchasing land already compacted. Real offers are rare, and more (sometimes outrageously) expensive when it exist. On the other hand, these properties can be purchased within a very short time framework (if and when real offers exist).
Why to use the services of SC Taltos Ltd?
- We are very familiar with land compacting procedures, attitudes of local owners, local authorities, notaries, and how to work with them in an optimized manner.
- Your land will not cost more if Sc Taltos Ltd. handles the acquisition, probably less, all commissions being included.
- Sc Taltos Ltd. can be directly involved in the specific area during the entire compacting period, acting officially in the client’s name and exclusively representing its major interests, controlling and managing all technical and legal operations connected to the purchasing and compacting procedures.
SC Taltos`s portfolio totals anywhere between 1,000 hectares and 5,000 hectares of agricultural land available for sale. Surfaces of individual’s plots vary between 50 hectare and 1000 hectares.
Prices of agricultural land range between 2,100euros & 2,500 Euro/ha depending on land’s type (arable, vineyards, orchards), soil quality, annual precipitation, irrigation, and whether the land is compacted or not.
Notary Fees and legal Taxes = 1% to 2% of the transaction amount (variable according to amount).
SC Taltos Ltd. commissions vary between 2% and 5% of the transaction amount, varying according to the total amount of the transaction.
Because Sc Taltos Ltd generally deals in larger-sized farmland properties, clients should be prepared to prove their financial qualifications for the size of properties they are seeking.
Also, because of the time it takes to find a property and to compact it, we, Sc Taltos Ltd, ask our clients make a commitment to use us as their exclusive agent through this process.
How to buy a property in Romania
You will find below a brief summary of the buying process:
SC Taltos Ltd will help you find your ideal property in Romania: homes or villas, resale or off-plan developments, plots of land.
After you visit www.sctaltos.5mp.eu , you can either come to our Scandinav office to speak to one of our employees or you can call and we will discuss you needs over the telephone.
This gives us the opportunity to discuss areas in Romania, tell you about us at SC Taltos Ltd, as well as the legal aspects linked to the purchase of a property in Romania.
We have the answer to most frequently questions about purchasing to buy a property in Romania:
1. Can foreigners invest in Romanian real estate?
2. What is the difference between owning land and owning buildings?
3. Can you simply ask a Romanian friend to own the land on your behalf?
4. Is there any other restriction on owning Romanian Property?
5. Is there any distinction between freehold and leasehold property in Romania?
6. Can you get a mortgage to buy the property?
7. Can your UK solicitor act for you in buying the property?
8. How can you find a solicitor to do the conveyancing for you?
9. Can a Romanian lawyer act both for you and for the seller?
10. Do you need a notary?
11. If you have a notary, why do you also need a lawyer?
13. Do you risk being gazumped?
12. How soon should you arrange a Romanian company to purchase the land that you want to buy?
14. What should your lawyer need to do to protect you in making the purchase?
15. Will your Romanian lawyer make all the checks that your solicitor would do if you were buying property in the UK?
16. If the property has a registered title, why does your lawyer need to spend time in checking the title of the property?
17. Is it safe to buy a property which does not have a registered title?
18. Is it safe to buy property off-plan?
19. The property in which you are interested in is situated on an unmade an unlit road. Could you be liable for the cost of making the road up and having it lit?
20. The property in which you are interested in does not have mains drainage or other utilities. Can you have these put in and will you have to pay for them?
21. Is it possible to buy land in the countryside and to change its use?
22. Can you get planning permission to develop the property?
23. How do you find out if your neighbours intend to develop their property?
24. How long will buying the property take?
25. Do you need to come to Romania to deal with the purchase?
26. How much is the conveyancing likely to cost?
27. Do you need to do anything else to be able to live in the house or flat that you have purchased?
28. Do you need to do anything else to let the property that you have purchased?
29. Will you be taxed in Romania on any capital gain that you make when the property that you have purchased is sold?
30. What restrictions exist on Foreign Ownership?
31. What costs do you incur during the property purchase?
32. What income tax do you pay on rental income?
33. What property tax do you pay?
34. What capital gains tax do you incur on sale?
All the answers of this questions will be given to you during the the time of our meetings.
If we do not have the property of your choice SC Taltos Ltd will endeavour to find the property that you are looking for.
Once you have found one or more properties which you are interested in, you then have the choice between:
- Reserving the property through us.
- Alternatively, you can travel to Romania and one of the team form the Oradea office will meet you and and help to guide you in the area of your choice, so we can present you with a selection of properties which match your criteria.
We offer various packages of viewing trips which provide a perfect way to not only see your chosen property portfolio but also to take in the country itself (tour cost depends on your requirements):
-The Craiova area,
-The Drobeta- Tr. Severin
-The Cluj-Salaj area,
- All the tourist routes and sights of the following County: Craiova, Drobeta-Tr. Severin, Tg. Jiu, Alba, Sibiu, Arad, Bihor, Cluj, Hunedoara, Maramures, Timis, Moldova and Dobrodja.
Once you have decided which property you wish to buy, you can reserve* your property with us by post, e-mail or at our office in Scandinav. The property of your choice will be reserved for a duration of 10 days.During that period you will choose a lawyer and/or a solicitor - this will be discussed during our meeting.
4. Company formation
We advise our clients to set up a Romanian company in order to purchase a property in Romania.
Buying through a company offers the main advantage of not paying the VAT, and it costs only 500 euros to create the company.
5. Final Contract
Depending on your requirements, we or your selected lawyer/solicitor will send you the Final Contract - details about the exact process during our first meeting.The final step is the transfer of funds (via your solicitor/lawyer) to the seller.
* Please note that the process above excludes properties bought off-plan.Please contact us for any questions regarding our off-plan properties and process.
How to buy a forest in Romania
SC Taltos Ltd. is a private Romanian Company with head-office based in Oradea City, Romania, Gol City in Norveg, Scandinavia.
We are agency specialized in transactions of rural properties, forests (woodlands) and agricultural land.
Our Company has several great opportunities to invest in Romanian farming lands and forests.
If You wish to acquire a forest in Romania, whether it be in the context of timber harvest, of land investment, of a touristy or commercial project (ski resort, hotel, mining, etc.), of hunting grounds, of a private domain, of land speculation, or any combination of the above, don`t hesitate to contact us.
Some important points:
- Currently, the surfaces of our offers range from 50 to 12,500 hectares in single plots. In certain cases, several plots are neighbors, allowing much larger surfaces.
- In general, prices vary from 3,000 Euro to 6,000 Euro/ha, according to the trees types, age and forest’s location and legal situation.
- In most cases, up to 5% of the surface of a forest can be converted into land for buildings (for houses, private access road, sawmill, etc.), and up to 15% for commercial/tourist developments (ski resort, hotel, mining operation, etc.).
- Acquisition costs; Notary Fees + Taxes = +/- 1% of the transaction amount.
- The national forest authority (Romsilva) offers specialized services to guard private forests (to protect against theft, vandalism, etc.) for a yearly fee of approx. 10 Euro/ha per year.
NOTE: 1 hectare = approx. 2.7 acres.
What can we do for You...?
- To find the proper forest on the basis of Your specific request.
- Helping You to have access to preliminary evaluation, or to a full evaluation.
- To assure the negotiation of acquisition price and conditions directly with the owners.
- To set up a Romanian limited company to buy the property in Your name.
- To handle all notary and taxes obligations to be paid.
- In the case of a land concession or rent, we will assist You in negotiation and to register the specific contracts.
- Consulting in establish and harvest plan to certify your forest if not already done.
- Other specific services requested.
SC Taltos Ltd commissions vary between 2% and 5% of the transaction amount, varying according to the amount of the transaction.
Because SC Taltos Ltd generally deals in larger-sized farmland properties, clients should be prepared to discuss and prove their financial qualifications for the size of properties they are seeking.
Also, because of the time it takes to find a property, we, Sc Taltos Ltd, ask our clients make a commitment to using us as their exclusive agent through this process.
Contact: SC TALTOS SRL - Oradea , Ro