Can You Buy or Sell Real Estate in Poland Completely Remotely?
Do you want to buy (or sell) real estate in Poland, but you don’t live here? Also, you don’t have time to come, finalize the transaction. What should you do in such a situation? Can it be done completely remotely? Yes, it can! And the answer as to how can be found below.
A Notary is Essential
It doesn’t matter whether you are the buyer or the seller, if you want to give someone power of attorney (POA) to enter into a purchase or sale agreement of real estate, you must sign a POA with a notary. No other form will be accepted.
From our previous articles, you already know that the sale agreement is executed in Poland with a notary. This means that you can’t buy or sell real estate using a simple written agreement between the parties. Signing such an agreement will not result in a valid sale or purchase. Such an agreement will simply be invalid. The same requirements apply to the POA for the purchase or sale of real estate.
What Role Does a Notary Play in Poland?
The profession of a notary in Poland is considered a trusted profession. A notary is responsible for ensuring that documents (e.g., sale or inheritance agreements) comply with applicable laws. They are an independent and uninvolved participant in transactions, and their presence ensures the credibility and legality of signed agreements. A notary is someone who has completed legal studies and undergone appropriate approval.
Whom Can You Authorize to Buy or Sell Real Estate in Poland, and to What Extent?
Another important aspect of the purchase: if you can’t be present in person, you will need to grant a POA to another person. You can grant a POA to an individual or a company. If you grant a POA to a company, the company must be represented by authorized individuals during the transaction.
In the POA, you can give the person who will represent you free reign or you can also specify the exact terms of the agreement to be concluded. This includes specifying the purchase or sale price of the property, the date of transfer, and the bank account number where the payment for the sale price should be paid.
Specifying all provisions in the power of attorney ensures that these conditions will be included in the final sale agreement. The notary preparing the agreement will not be able to use any provisions other than those specified in the power of attorney. This rule applies to all buyers and sellers, including those from abroad.
Granting Power of Attorney Abroad for Real Estate Transactions in Poland
If you are interested in purchasing real estate in Poland, but are unable to come to Poland to do so, you will also need to prepare the appropriate POA. It’s best to ask the notary, who will be handling the transaction, to prepare a draft POA. This will ensure that the document is correctly prepared.
The next step is to translate the Polish POA into the official language of the country where you will sign the document. The document must be signed in two languages. Then, it will be necessary to sign the document in the presence of a notary in your country. This ensures that no one will question the credibility of your signature. Next, the signed document must be affixed with an apostille and sent in its original form to the person who has been granted the POA. Finally, the apostille clause must be translated into Polish by a sworn translator.
The entire procedure can take from a few days to several weeks. It all depends on the availability of notaries in the country where you will sign the document and the time required to issue the apostille. The delivery time of the shipment (the original document must be sent to Poland) can also affect the process. One of our investors from New York needed 8 days to grant Wellcome Home POA (including necessary translations, obtaining the apostille, and delivering the documents).
Remember that your representative will need to personally represent you at the notary during the transaction. These rules may vary slightly depending on the country, so it is good to work with someone experienced.
Revoking the Power of Attorney
The legal relationship between the principal and the agent is based on mutual trust. You can revoke the granted POA at any time and also change its scope. Although granting POA for a transaction requires a notary’s involvement, in Poland, the POA can be revoked in any form, including verbally. Revoking the POA does not require any justification and can be done for any reason.
However, the declaration of revoking the POA should be made in a form that allows the agent to become acquainted with its content. Actions taken on behalf of the principal after the revocation of the POA, depending on the circumstances, may be effective or not. The principal, on whose behalf actions were taken without a valid POA, may have a claim for damages.
In Summary
You don’t need to come to Poland to purchase real estate. You can do it completely remotely. Appointing an agent for real estate purchases in Poland requires a special form of a notarial deed. In the POA, you can precisely define the purchase (or sale) conditions of the real estate. A notary in Poland is a trusted profession. The remote purchase (or sale) of real estate in Poland is therefore very safe.