There are certain property rules when you are getting Egypt property for sale. The prices for the property when there is a new property on sale are usually set. In these circumstances, there is really little room for negotiation. When there is resale of property, then you could see that there is room for more negotiation. If you are buying in cash, then you could get cash discounts that can range in the vicinity of 5% to 10%.

Completing the purchase formalities

When looking for mortgages, please ask the amount of mortgage value the banks are willing to give. Many banks are willing to give as much as 60% of the value of the Egypt property for sale. The mortgages may be given for a period of 15 years at the prevailing rate of interest. Please check with the banks for the rate of interest before getting Egypt property for sale.

Once you have settled the payment and finally purchased the Egypt property for sale and other formalities have been completed, you would get a “green contract” that show that all validation processes have been completed.

In some areas of Egypt, there is something known as “buyers commission” that is prevalent when you purchase the Egypt property for sale. The agent charges this fee the purchaser for handling the process of the sale. The fee will usually vary between 1%-1.5% of the value of Egypt property for sale. However this fee doesn’t cover the lawyer’s fees.

Getting a good lawyer conversant with all rules and regulations is extremely important in Egypt

It’s also important that you can get a good lawyer who is conversant with the proceedings in regard to purchase of the Egypt property for sale.  Since all the procedures, papers and valid signatures will need to be verified, you would need a local lawyer who can help you through this process.

The contracts need to be made out in Arabic as well as English. The lawyers would also require a deposit when they come aboard. The fees of the lawyer will depend on the purchase price of the Egypt property for sale.

As a foreigner you also have the right to own a freehold property. This means that you own the Egypt property for sale with out any limitation of time (as in leasehold properties) having the right to transfer the Egypt property to any other person

Along with buying the Egypt property for sale, you will also need to apply for residency entry Visa. The visa granted would only be valid for period of 1 year. This formality is necessary and can be handled by your lawyer on a simple power of attorney.