How to buy an apartment in a new building?
Buying a property is a troublesome matter, which must be treated with all possible attention and responsibility, in order not to be at a loss, or even be left without a home. Each type of property has its own characteristics, which the buyer needs to take into account. We will talk about how to buy an apartment in a new building, having avoided the risks associated with this business.
The process of buying an apartment in a new building
Regardless of whether you want to buy a one-room apartment in a new building or a multi-room apartment, the purchase process should be treated with the same care. In addition to the choice of objects of purchase, you will also have to choose a developer and a real estate company. Each of these steps is important because the real estate market is large and there is always the risk of running into fraudsters.
The choice of the developer
The choice of the developer is especially important if you intend to buy an apartment in a new building under construction. To check the integrity of your chosen company, you must:
- Check its reputation (the period of the company, the number of objects successfully implemented by it).
- Be sure to go to one of these objects.
- Check information about the developer on the Internet (company website, reviews, "black" list of companies).
- Check the availability of permits for construction (land lease agreement, project declaration, construction permit, investment contract).
It can be beneficial to buy an apartment in a new building directly from the developer, since large companies sometimes offer apartments at lower prices (especially in places of massive construction).
Choosing a real estate company
Cooperation with real estate companies (or real estate agencies) allows the buyer to save significant time. It is imperative to check the reputation of the real estate company, because you will have to pay its commission. Contacting a real estate agency has a number of its undeniable advantages:
- Reputable companies, as a rule, themselves check the reliability of the developer, because they value their reputation.
- In large companies, there are lawyers who work exclusively in the primary market.
- Agencies have extensive information databases that will speed up the search for the object you need, whether you want to buy a studio apartment in a new building or a two-level apartment, no need to search for it yourself.
The choice of apartments in the new building
When choosing an object for purchase, apart from having the necessary documents from the seller, you should pay attention to the following factors:
- building type
- housing class
- stages and rates of construction
- location and surroundings of the object
- the presence of a legal scheme for the implementation of the object
Those who wish to buy an apartment in Moscow, in a new building, it will be useful to know that now the proposals for housing classes in the capital are distributed as follows: 57% - business-class housing, economy class takes 30%, and the elite segment is 13%. The price for new buildings depends on all of the above factors, and moreover on the geography of the proposed purchase: since housing in large cities is traditionally in demand, in cities such as Moscow or St. Petersburg to buy an apartment in a new building for the same price as in provincial cities will not work.
Contract for the purchase of an apartment in a new building
After selecting the object and digging the seller, you will have to enter into a contract for the purchase. Make a purchase of an apartment in a new building can be different:
- as participation in shared construction
- as a share
- as joining a partnership or cooperative
- as an investment deposit
- as assignment of rights of claim
Do not rush to conclude contracts for pre-payment (when 100% prepayment is taken from the buyer) and using bills of exchange (when the buyer is offered to buy a bill at a price equal to the cost of an apartment) - this scheme does not guarantee the buyer to purchase the selected property.
Registration of the apartment in the property
The ownership of the apartment purchased in the new building needs to be registered at the Office of the Federal Registration Service. You will need:
- application for state registration
- contract and all annexes to it
- act of payment
- the act of acceptance of the apartment
- BTI documents (explication and floor plan)
- copy of the protocol on the distribution of apartments between investors
- copy of the permission to enter the house
- passport (plus a copy)
- receipt of payment of state duty
Now you know how to buy an apartment in a new building. Be very careful when making any transactions related to the purchase of real estate, and if you have any doubts about the legality of the transaction - consult a lawyer.
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