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Egypt property The property market in Egypt is primarily focused around the Red sea and Mediterranean coastline. Property investors are also buying in and around the main urban hubs of Cairo, Alexandria and Luxor, The Egyptian governments pro-active policies for attracting overseas investment has created an economic climate geared for growth in the Egyptian property market. Do you agree? Please state your views and opinions here on our new Egyptian property forum.

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Do i definately need a uk lawyer when buying in Egypt - Page 4

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  #31  
Old 25-12-2007, 02:43 PM
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I think you are right there Peter maybe this is the way forward.
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  #32  
Old 25-12-2007, 07:22 PM
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Default How does it work using a UK lawyer

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Originally Posted by ********* View Post
I think really everybody should have a lawyer even if it's to check the translation in the contract however i'm against giving power of attorney don't go down that road,it is surely a long one.
How does it work using a UK lawyer - and what does it cost.

..
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  #33  
Old 25-12-2007, 08:16 PM
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Hi dave99,
I don't know how much a uk lawyer would cost but I bet they won't be cheap that's for sure.
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  #34  
Old 25-12-2007, 08:22 PM
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Default Hearsay costs only

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Hi dave99,
I don't know how much a uk lawyer would cost but I bet they won't be cheap that's for sure.
Hearsay costs only below:

I've heard of a quote for £1000 for a UK lawyer who would contact an Egyptian firm to do basic stuff for initial checks / POA and final registration work, and general advice (not any dispute activity)

Egyptian only Lawyer quoted £500.

All this seems VERY expensive for Egypt and the UK quote is just unreal for what is involved.

Any other quotes would be great for comparison.

.
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  #35  
Old 04-01-2008, 12:26 PM
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Default Cost of Egyptian Lawyer

Hi all

My friend is having a villa built in Spain and he has been asked for 9000 euros for lawyers fees.

This to be seemed really high compared to what I am being charged in Sharm which is £500 for a bedroom apartment.

What are others views and how does this compare?
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  #36  
Old 04-01-2008, 12:32 PM
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Typically lawyers fees in Spain are 1% of the purchase price so if he is paying 900,000€ that would be right. Some Madrid lawyers may charge up to 1.5% but this is rare. Other costs are 7% VAT on new property (or 7% property transfer tax on resales) plus about 1.5% for Notary fees and land registry.
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  #37  
Old 04-01-2008, 12:35 PM
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Hi Peter - I think he said the total to build including land and kitchen, bathroom tiles etc is £180,000. 3/4 bedrooms from memory.
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  #38  
Old 04-01-2008, 12:46 PM
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Then it sounds as if he is providing far more than just conveyancing. Does this include architects fees? Some lawyers may introduce an architect as the buyer may not know one. Normal conveyancing is on a fixed scale between 1 - 1.5% only.
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  #39  
Old 04-01-2008, 01:01 PM
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Hi Peter - I dont know. I gave him this website address yesterday as I said it seemed far too much and will try and get some more info next time I see him. It certainly is much more expensive than say Egypt.
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  #40  
Old 04-01-2008, 07:06 PM
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Default Silly money by Hurghada standards

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Originally Posted by queenie40something View Post
Hi all

My friend is having a villa built in Spain and he has been asked for 9000 euros for lawyers fees.

This to be seemed really high compared to what I am being charged in Sharm which is £500 for a bedroom apartment.

What are others views and how does this compare?
Silly money by Hurghada standards.

Even if paying for an English lawyer with links in Egypt it should only be about £1000, and that's about double what it is if you go direct to a local lawyer in Hurghada, and even that is much more than you really NEED to pay if everything is straight forward.

.
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