Bill on mediation in real estate transactions prepared

The Ministry of Trade and Services of Serbia has prepared the Bill on mediation in real estate transactions, which should provide legal security to all citizens who uses the services of mediators in real estate transactions.

The Bill on mediation in real estate transactions in Serbia is published on the website of the Ministry of Trade and Services (www.mtu.gov.rs)

The Bill envisages that that must be a contract in written form for each activity of mediation in real estate transactions, while the mediator has an obligation to provide a legal assistance - a lawyer for the needs of the ordering party - in negotiations and making of a contract on a real estate transaction.

The allowed amount of the mediator's fee per real estate is up to 6% of the achieved price, but that limit is not applied if the achieved price amounts to less than EUR 20,000 in RSD.

According to the Bill on mediation in real estate transactions, the fee for mediation in the lease of a real estate amounts to maximum 2 monthly rental fees.

As people at the Ministry of Trade and Services of Serbia point out, introduction of the registry of mediators and the address book of agents and their availability on the website of that ministry will ensure greater security of operations in this field.