What you need to know when buying an apartment: legal advice

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

The purchase of any property should be a competent and thorough procedure, which involves checking the legal purity of the transaction and the correct choice of the property itself. Objects on the market are presented in different types, so you can choose an apartment in a new building or a resale. Before drawing up a contract, it is important to understand what you need to know when buying an apartment in order to choose a truly optimal type of property that is ideally suited to the requirements of the buyer.

What to watch out for?

You should understand what you need to know before buying an apartment in order to prevent possible negative consequences of this process. It is thanks to a competent approach to this issue that it is possible to guarantee the absence of numerous problems.

What you need to know when buying an apartment? To do this, it is important to consider some important points:

• the legal purity of the transaction must be checked, therefore, all the documents available to the seller are carefully studied, and it is desirable to do this with the help of a lawyer, as well asit is advisable to check numerous certificates and certificates directly with the Rosreestr and other government agencies;
• the information from the documentation is checked against the actual state of the object, so if there are discrepancies in the layout with the data contained in the technical plan, then we can talk about illegal planning or fake documents, so it is advisable to refuse such a purchase;
• the entire acquisition procedure must be legally competent, therefore, numerous stages of the purchase must be completed, and it is also desirable to invite lawyers;
• the buyer himself is obliged to make sure that the selected object really meets his requirements and desires.

If you understand what is important to know when buying an apartment, you can guarantee that the optimal property for life will indeed be chosen.

What's alarming?

There are certain points that should alert every buyer, regardless of whether the selected object is in the primary or secondary market.

If the buyer has doubts about various factors, then you need to make sure that the conclusion of such a transaction is legal and expedient.

Presence of power of attorney

If the property is sold not by the owner, but by a trustee with a power of attorney, then we can say that such a transaction may be illegal.

It is important to make sure that the power of attorney is not forged or revoked, and nothas expired. You also need to check if such a document was already made by a deceased person.

It is not uncommon to encounter the fact that fraudsters form fake documents, on the basis of which they represent the interests of elderly or incapacitated citizens. Such a transaction is easily invalidated, so the buyer loses money and real estate.

Privatized apartment

If the apartment was recently owned by the seller as a result of privatization, it is important to make sure that all documents have been drawn up correctly. Also, if there are several tenants, then they all had to agree to this process.

Buying a resale apartment, what you need to know? First you need to make sure that no unauthorized persons are registered in the property who may claim this object in the future.

It is especially necessary to check the absence of registered minors in the facility, since it will be difficult to write them out even through the court.

Dubious history of the apartment

What do you need to know when buying an apartment to guarantee the literacy and formality of the transaction? It is necessary to check the history of the existing object in advance.

If there is evidence that an alienation procedure was previously carried out, which can be considered doubtful, and the owners were different firms or government agencies, then it is better to refuse such a purchase.

Transfer overinheritance

If you are planning to buy an apartment, what should a resale buyer know in order to prevent possible negative consequences? To do this, it is studied how the seller obtained ownership of this object.

Often apartments are inherited. If the heir is trying to urgently get rid of the property, then there is a possibility:

• illegal housing;
• the object is claimed by other citizens who have all the rights to alienate it;
• various illegal methods were used in which the seller appropriated the object.

In the presence of the above factors, there is a possibility of losing the purchased apartment in the future.

Presence of an encumbrance

If you plan to buy a mortgage apartment, what do you need to know in order not to lose such a property in the future? The object may be pledged to a bank, bailiffs or other organizations. First, you need to check this information. Next, you need to make sure that the process of selling real estate is carried out with the full consent of the mortgagee.

If a lawsuit is being held against the owner of the apartment, then such an acquisition must be abandoned.

The nuances of buying in a new building

If you need to buy an apartment in a new building, what do you need to know to ensure a competent and official purchase? Initially, for this, some significant points for each buyer are analyzed:

• location, infrastructure available and convenience of location in relation to the place of work orother objects;
• cost of 1 sq. m., and it should be lower than the cost of real estate in the secondary market;
• the presence or absence of a legal history, and the best is to purchase an object directly from the developer, which practically reduces the possibility of fraud and the fact that third parties can claim the apartment;
• the possibility of obtaining installments or mortgages if the buyer does not have the necessary funds for such an acquisition.

Buying an apartment in a new building, what you need to know? To complete the current transaction, the following parameters are evaluated:

• initially, all the data provided by the contracting company that is directly involved in the construction of this facility are carefully studied, and this includes various licenses and financial documents;
• information about the developer is being checked, so it is important to get data on how long the organization has been operating on the market, what objects have been built, how many open lawsuits there are with buyers, and also reviews of people who have already bought apartments from this company are studied;
• you should personally visit the construction site to check at what stage of construction the house is at, and you can also communicate with the direct builders, which often allows you to find out significant nuances about the structure;
• if a DDU is drawn up, it is important to make sure that there are all the necessary items in the developer's duties and responsibilities, and if they are missing, thenit is advisable to revise the document or even contact Rospotrebnadzor.

Having figured out what you need to know when buying an apartment in the primary market, each person can protect himself from poor-quality acquisition, which is accompanied by the complexity of registration of ownership.

Features of buying a home with a mortgage

Often, people simply do not have the necessary funds to buy real estate. In this case, it is advisable to apply to the bank for a mortgage loan. If you plan to buy an apartment on a mortgage, what do you need to know in order to foresee all the possible risks and disadvantages of such an acquisition? For this, some points are taken into account:

• certainly the apartment is issued as a pledge to the bank, so it will not be possible to sell housing or change the owner in another way before the end of the loan term without the permission and participation of the bank;
• will have to insure the apartment every year;
• before applying for a loan, you will need to conduct a property assessment;
• it is forbidden to carry out redevelopment or other significant processes with the object.

To buy an apartment on a mortgage, it is important to choose the right lender, as well as buy an insurance policy from an accredited company.

Pros of buying a mortgage

If you plan to buy an apartment, what does the buyer need to know when using borrowed funds? The benefits of this acquisition include:

• the bank itself checks before signing the contractthe seller, for which his credit history, financial condition, reliability of work, open claims and other features are evaluated, so if the bank refuses to lend, you can be sure that there are a huge number of minuses in the work of the developer;
• all documents are checked by the bank's legal department, so if a mortgage is granted, the buyer can be sure that all the seller's documents are legal, with the necessary information and reliable;
• bank funds are transferred directly to the developer, which prevents the possibility that third parties may claim these funds;
• Bank employees with the necessary powers additionally assess the condition of the apartment and determine all the factors that affect its value, which eliminates the possibility of fraud or overpricing.

Thus, due to the participation of the bank, it is possible to guarantee the legality of the transaction.

The nuances of buying a resale

What you need to know when buying an apartment located on the secondary market? Such a transaction is considered the most specific and complex. This is due to numerous risks, which consist in the fact that third parties can claim real estate.

The most significant nuances of such a purchase are:

• legal risks, as there are multidimensional legal relations, and it is also required to check the purity of the transaction and the compliance of all the seller's documents with numerous legal requirements;
• technical risks. They are due to the fact that the apartment itself may have various hidden problems, represented by improper operation of utilities, non-compliance of the facility with sanitary requirements, or other difficulties that are already determined during the operation of the property.

To reduce risks, it is advisable to use the help of a re altor or a lawyer. Also, all papers of the seller must be notarized. Copies must be made of papers, and it is also important to insist on the formation of an act of transfer of the object.

The specifics of buying with a re altor

Many people seek the help of a specialist in the process of finding the best property. Therefore, citizens decide that the purchase of an apartment will be carried out through a re altor. What do you need to know for this?

You need to choose only trusted companies that provide quality services. The re altor himself must constantly accompany the transaction. In addition, the firm must check the legitimacy of the transaction.

Studying the quality of real estate

To buy a really high-quality and comfortable apartment, you need to pay attention to some points, which include:

• checking the status of utilities;
• you need to make sure that the current owners did not carry out illegal redevelopment, so the data from the technical plan is checked against the actual state of the property;
• the condition of the repair, the quality of the existing windows and doors, and other important elements are assessed.

If the apartment is fully suitable forthe requirements of the buyer, then you can start a legal check.

How to check an apartment?

Before purchasing any chosen option, it is necessary to obtain an extract from the USRN for it, which contains the following information:

• presence or absence of an encumbrance;
• number of former owners;
• the number of registered people, and if there are minors among them, then it is advisable to refuse such an acquisition;
• indicates how the seller received this item.

You can even get this document yourself using the website of the Federal Tax Service.

How to check the seller?

The seller is checked in different ways:

• in the Federal Tax Service you need to make sure that the citizen's passport is genuine;
• it is advisable to request a certificate that confirms the seller's legal capacity and the absence of mental disorders;
• if there is a power of attorney, then it is checked for legality.

Checking the owner of an object is not difficult with the help of various government organizations.

Thus, if every person knows what information should be obtained when purchasing an apartment, then you can count on buying really high-quality and optimal real estate. It will not only meet the requirements of a citizen, but the transaction will also be legally clean. The real estate appraisal process depends on whether the apartment is located onprimary or secondary market. It also takes into account whether a mortgage is issued for such an acquisition, and whether the services of a re altor are used. At the same time, it is important to evaluate the quality of the object and the purity of the transaction in different ways.