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Buying a home in Hurghada can be a stress-free process with Galeria Properties, especially if you’re a foreign buyer looking to purchase an apartment in Hurghada, Sahl Hasheesh, Makadi or Soma Bay. However, it’s essential to note that our Galeria Properties easy buying process guide only applies to the properties we market. If you’re working with other agents or developers to find your next living space in Hurghada, it’s best to seek alternative legal advice.
Here Are The Legal Matters to Consider When Buying Home in Hurghada
Reserving your dream home in Hurghada: Once you’ve found your ideal apartment and agreed on the payment terms, Galeria Properties will send you a reservation form to complete and start the process of buying your home in Hurghada. This form collects the necessary information for the developer’s legal team to draft the property sale contract and start the buying process from their side.
Making Your First Payment of Your New Home in Hurghada
After you’ve sent back the completed form, it’s time to make your first payment for buying a property in Hurghada. This could be either the initial deposit amount or the first installment, depending on the payment scheme you’ve agreed to. You can make this payment via bank transfer.
Contract Preparation
Upon receipt of your first payment, the property will be taken off the market availability, and the funds and forms will be forwarded to the developer’s legal and accounting teams. They will then draft the legal purchasing contract for the property sale and send it to you via email within ten working days.
Signing the Contract
Once you receive the contracts for your home, you’ll have plenty of time to review and ask any questions before signing three copies of the contract and returning them via hard copy in the post.
Contract Complete
Congratulations! You’ve now officially completed the buying process and will receive a stamped and signed copy of the unit contract for your records. You’ll also need to make payments as outlined in the payment plan detailed in the contract.
Legal Matters to Consider When Buying Home in Hurghada
Initial Legal Costs
The initial legal checks and due diligence when buying a property in Hurghada are carried out by independent lawyers at no cost to you. You’ll receive a copy of this information along with your contract. Galeria Properties only markets properties that have passed all necessary legal checks and have all necessary licenses and building documentation in place.
Legal Costs on Completion
After the property is built and fully paid for, it’s recommended that you carry out a process called the signature court validity, which certifies your ownership in the eyes of the court and is a way to protect your investment without any of the restrictions that come with the full registration process.
Independent Legal Advice About Buying Home in Hurghada
If you’d like an independent lawyer when buying a home in Hurghada to review the contract and do due diligence, we recommend using an Egyptian lawyer who is familiar with the local laws. Our team at Galeria Properties is more than happy to arrange a meeting with the developer’s lawyer and your chosen lawyer to go through all the original paperwork and help with the buying process.
We hope this guide provides you with a clearer picture of the buying process for your real estate property in Hurghada and the Red Sea and gives you peace of mind when making your investment. If you would like to read more about this process, we recommend checking out this informative article on the ownership of real estate in Egypt for foreigners, provided by Mondaq. Let’s work together to find your dream home!
