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THE SALES PROCES
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Egypt is considered as one of the best and most beneficial
places in the world for investing in real estate.
After you have found your dream home it is time to finish
all the legalities:
STOP 1: Investigation by the governmental authorities
in order to find out
• Who is the real owner of the property?
• Does the owner have a registration contract?
• Are there any restrictions, mortgages or lines on
the property?
• Is the owner Egyptian or foreign?
• Does the have building permission?
STOP 2: Signing the contract
After finishing the investigation the next step is to draw
up a sales contract between seller and buyer, which will
include some guarantees in the favor of the buyer. For
example, seller not to challenge the buyer in his ownership
and utilization of the sold unit.
The sales contract will also include a clause, which
considers the signature of the seller as the final receipt
of receiving the total amount of money for the sold unit.
STOP 3: Power of attorney
Both the seller and the buyer must take a power of attorney
with each their attorney in order for seller to be able to
sell the property and for the buyer in order to be able to
buy. The attorney will then be allowed to sign on their
behalf on the final contract in front of the notary public
and make all the necessary steps regarding registration.
STEP 4: Registrations
The seller must sign a delivery record of the sold unit and
notarize it in the notary public. The buyer will go to the
notary public to begin the registration steps to register
his new property.
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