2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
In Russia, real estate transactions are quite common. People donate, share, inherit and sell apartments, houses, dachas and land. All this is a great way to get a large amount of money, and a great investment that will not "burn out" when the economy falls. When can I sell an apartment after buying it? How to do it in this or that case? What challenges do today's sellers and buyers face? And do I have to pay taxes after the transaction? The answers to all this will surely help each person. It is possible that it is better for a citizen to postpone the transaction.
Right to sell
First of all, let's find out if the owners can sell their real estate. Maybe this is not the best idea?
According to the law, a person has the right to do whatever he wants with his property - to give, alienate, allocate shares, destroy, transfer by inheritance, exchange, and so on. If the act does not cause damage to other people and other people's property, it can be carried out legallymeaningful transactions.
If the apartment has several owners, you will either have to first offer other owners to buy out their share, or agree on a joint deal. But when should it be done? And how to do it?
Methods of sale
How long can you sell an apartment after buying? Unfortunately, no lawyer is able to give an unambiguous answer to such a question. The thing is that the legislation of the Russian Federation does not establish any special deadlines for the sale of property. However, under certain circumstances, the transaction will be difficult.
You can sell real estate:
- through re altors and real estate agencies;
- on our own.
In the first case, everything will be done for the seller - and they will make an ad, and place it, and find customers. In addition, conducting the sale through an agency is a legally sound approach. Only for the services of intermediaries a commission is charged. It does not always please the direct participants in the operation.
Self-sale of property takes a lot of time and effort. But the person will not have to pay a commission once again. At the same time, everyone decides for himself how to sell the property.
Legislation on the moment of conclusion of the transaction
When can I sell an apartment after buying it? As we have already said, the legislation of the Russian Federation does not indicate any exact timeframes on this issue.
What does this mean? The law allows immediately after the transfer of ownership of the objectperform legal transactions with it. But it's better not to rush into it. And there are reasons for that.
Term for making changes to the USRN
Is it possible to immediately sell an apartment after purchase? Yes, including mortgages. Just better, as already mentioned, do not rush. At least for starters, the landlord is recommended to make changes to the USRN. Otherwise, he will not be issued an extract from the real estate register. This is an extremely important paper that is sure to appear in the deal.
Data in USRN are corrected within 5-10 days. After this period, the owner can come to Rosreestr and pick up an extract of the established form. It will replace the cadastral passport, certificate of property rights, and registration certificate.
Early sale - old property
Can I sell an apartment immediately after purchase? In general, the legislation of the Russian Federation does not have any restrictions on this issue. The main thing is to take into account the nuances of the transaction and properly prepare for it.
Selling an apartment a year after the purchase is quite realistic. Even a day after the conclusion of the transaction, the owner has the right to dispose of his property. Only, as already mentioned, this is not always a profitable act.
The thing is that after the alienation of property, a person will have to pay income tax. It is 13% of the amount specified in the sales contract.
When can I sell an apartment after buying it? At least immediately, but for property purchased before 2016, if the operation is carried out early, there will beact taxation. It applies to the object for 3 years.
Quick deal - new rules
But in 2016 the situation has changed somewhat. Is it possible to sell a new apartment after purchase? Yes, the main thing is to take into account all the features of the relevant legally significant operation.
If the property is purchased after 2016, then the taxation will be valid for a longer period. Namely, 5 years. Therefore, it is recommended not to rush to sell the property.
When there are no taxes
When can I sell an apartment after buying it? By law - immediately after the transfer of rights to the property to a new owner. In practice, citizens often wait for a certain moment. Namely, exemption of the transaction from taxation.
From the above it follows that you will not have to pay tax after the sale of property if:
- property acquired before 2016 and more than 36 months have passed since then;
- property was bought after 2016, and more than 5 years have passed since the transfer of rights to the object.
There are no more legal ways to exempt a transaction from taxation. All this is extremely important. Especially for real estate transactions.
If there is a mortgage
Is it possible to sell an apartment after buying it in a mortgage? From all of the above, yes. But a mortgage is a special burden. And transactions with such property are not in great demand.
Firstly, in order to sell mortgage property, you will have to obtainpermission from the bank where the loan for housing was taken. Financial companies in the Russian Federation do not often allow the resale of property with an encumbrance.
Secondly, finding buyers even through a real estate agency will be extremely problematic. Encumbranced property is not in demand in the property market.
Third, after the transaction, the seller will still have to pay tax. This means that the deal is not always profitable.
From the above it follows that it is better to close the mortgage first or wait a few years, and then put the property up for sale. As soon as the encumbrance in the form of a home loan is removed, the likelihood of a successful and quick transaction will increase.
Instruction: sell the property yourself
When can I sell an apartment after buying it? Preferably 5 years after the transfer of rights to the object or after the closing of the mortgage. These tricks will save you from unnecessary problems.
How to buy and sell? Let's start by looking at the process through a real estate agency. Assume that the property has only one owner.
In this case, the seller will:
- Collect a certain package of documents. We'll talk about him later.
- Contact a real estate agency and pay for the services of an intermediary, explaining your desires.
- Contact buyers found by the agency.
- Show the apartment. This is usually done by the re altor.
- To discuss the details of the deal. For example, hold an auction.
- Come tothe agreed time to the real estate agency with pre-prepared documents and sign the "purchase" agreement.
- Get the money in hand and give the buyer a certificate of acceptance and transfer, as well as a receipt for the delivery of funds.
- Give the keys to the new homeowner.
That's it. After the done actions the apartment will be sold. Now it remains to file a tax return with the Federal Tax Service and, if necessary, pay tax.
Important: property tax will have to be paid for another year after the conclusion of the sale and purchase agreement.
Instruction: selling on your own
How soon can I sell an apartment after buying without taxes? If the property was purchased before 2016 - after 3 years, otherwise - after 5 years after the transfer of rights to a particular object.
And how to sell the property yourself? To do this, a person needs:
- Prepare an apartment and documents for the transaction.
- Take a photo of the property and make an announcement.
- Place ads for the sale of property on all kinds of boards and newspapers.
- Contact potential clients and arrange a demo of the apartment.
- During a meeting with buyers, answer all questions about the property, as well as conduct auctions if possible.
- If the buyer is satisfied with the housing, agree on the date of the transaction.
- At the agreed time, come to the notary with pre-prepared certificates and sign the contract of sale.
- Issue receipt of funds from seller.
- Give the keys to the apartment and the act of acceptance and transfer of the object.
- Collect your copy of the "buy and sell" agreement.
Sounds not as scary as it sounds. The main thing is to properly prepare for the operation. It will not be possible to cope with this task without certain documents.
Deal references
Is it possible to immediately sell an apartment after purchase? From all the above it follows that yes. But it is better to wait for the tax exemption.
To sell a home, you will have to prepare:
- sales agreement;
- USRN statement;
- title documents for the object;
- passports of the parties;
- spouse permission to deal (from buyer and seller);
- marriage certificate;
- marital agreement (if any);
- Consent of co-owners to the operation or refusal to buy out.
That should be enough. If the owner of the object or its share is a child, you must additionally prepare:
- consent of parents and guardianship for the operation;
- birth/adoption certificate;
- child's passport (if available).
In practice, housing owned by a child is not in demand. Selling it is extremely problematic.
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