HOW IS THE PURCHASE OF HOUSING ON THE SECONDARY MARKET? ORDER AND STAGES

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HOW IS THE PURCHASE OF HOUSING ON THE SECONDARY MARKET? ORDER AND STAGES

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HOW IS THE PURCHASE OF HOUSING ON THE SECONDARY MARKET? ORDER AND STAGES - etapi kupivli kvartiri 300x300 1 So, you have found the same dream apartment, in a quality house, with a convenient location for you, with stunning views from the window and a picturesque park nearby. Weighed all the pros and cons and decided to buy. Where to start? What is a home purchase agreement? Consider buying real estate on the secondary market.

 Recommendation number one – get a reliable lawyer. He will help to check the apartment and organize the transaction as comfortably as possible for you. After all, buying real estate has many features and nuances that are difficult for a legally inexperienced person to understand.

Conditionally, the purchase agreement on the secondary market can be divided into stages:

 1. Getting to know the seller

 First of all, you need to check whether the person with whom you are negotiating is the real owner of the apartment. Invite him the title documents for the apartment, his passport, carefully compare all the data. You should be wary of too old age, signs of mental disorder, suspicion and the like. If the owner of the apartment sells the apartment by power of attorney, there are immediate questions about the cleanliness and reliability of the transaction. In this case, buying an apartment without a lawyer, without prior verification of documents and history of the apartment and all the pitfalls – is a real sentence. The saying “Greedy pays twice” is more relevant here than ever. Do not save, involve an experienced lawyer in the examination, and preferably several. The realtor in this case will not replace it.

 2. Inspection of real estate

 Ask the owner for the originals of the title documents, such as a contract of sale, a contract of gift or exchange, a court decision, a certificate of inheritance, etc. Check whether the ownership of the apartment is registered in the State Register of Real Property Rights. You can do this yourself with a digital signature. From this register and the register of the State Register of Mortgages, you can also check the existence of prohibitions on the alienation of real estate. Also at this stage, the presence of litigation regarding the apartment, the history of the apartment, its previous owners, the number and methods of its alienation, based on which the analysis of the risks of buying such housing. The presence of registered persons, debts for utilities, etc. are also checked. It is impossible to be negligent at this stage and hope for luck in any case, otherwise you run the risk of losing your home and money.

 3. Negotiations with the seller on the terms and amount of prepayment, the organization of the signing of a preliminary agreement (deposit)

 I advise you to sign a preliminary contract with a lawyer from a notary. You must first check and analyze the template of the contract offered to you by the other party or notary. There can be many inconspicuous nuances in this agreement, which may turn in your favor in the future. Carefully check the form and legal nature of such an agreement, its terms, terms and amount of the deposit, the order of storage of money, the consequences of failure to enter into a purchase agreement, penalties, force majeure. Additionally, select the seller’s own receipt of the transfer of funds. Be careful, because often deception of buyers by fraudsters occurs at this stage.

 4. Preparation of documents

 If you enlist the help of a lawyer, it will be easier for you, because he will do all the troublesome work for you. Documents to be collected by the buyer are usually a passport or birth certificate, identification number, marriage certificate or divorce certificate, notarized consent of the other spouse to purchase, if he is not present at the signing of the agreement, opening a bank account if necessary . As for the seller, you need to collect title documents for the apartment; extract from the register of property rights, passport or birth certificate; marriage certificate or certificate / court decision on divorce, notarized consent of the other spouse for sale, if he will not be present at the signing of the agreement, technical passport; if the owners are minor children – permission of the guardianship authorities, a document on the composition of the family, assessment of the property, in case of sale of part of the property – the refusal of the owners of joint partial ownership of the preemptive right to purchase shares, certificate of absence of debt. This is a standard list, depending on the situation, additional documents may be available.

 5. Execution of the contract of sale

 The notary usually provides a standard contract, but we recommend that you invite him to the notary in advance, carefully check and, if necessary, make additions. Or provide your contract, which was prepared for you by your lawyer. The contract of sale is a separate topic, because it has a lot of nuances that you need to know when signing the agreement. Adherence to the correct form and terms of the contract will protect you from unnecessary risks and litigation.

 6. Concluding an agreement

 This is the final stage of concluding a real estate purchase and sale agreement, which is accompanied by mutual settlements between the parties. The transaction takes place in the presence of a notary, who prepares the stipulated contract and provides it to the parties for review. Be careful, check the correctness of personal data, the cost of the contract, the order of calculation, information about the apartment, the date of conclusion, the absence of new conditions that were not discussed by the parties. After verification and approval, the calculation is made, taxes, fees, notarial services are paid, and after that – the contract is signed and certified by a notary. And it all ends with the entry in the State Register of Real Property Rights of the new owner of the property.

 Knowing the stages and algorithm of the transaction, with the help of an experienced lawyer, you can avoid mistakes and save valuable time, nerves and money. And the deal itself will really turn from a tense, nervous event into a real holiday.

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