Apartments for the sale of an apartment in a new building: what to pay attention to

The legislation of the Russian Federation clearly describes the requirements for any contract of sale. They record the subject of the contract, its value, as well as the rights and obligations of the parties to the transaction. When buying an apartment, the features of the law that regulates such transactions should always be taken into account. This is due to the fact that the purchase of housing requires state registration of property. In this article, we will describe what should be indicated in the contract of sale of the apartment in a new building, and also consider possible pitfalls.

Content:

1. Requirements when buying and selling an apartment in a new building
2. Points to which you should pay attention to the purchase agreement
3. Documents necessary for buying an apartment in a new building
4. Sample contract for the sale of an apartment

Requirements when buying and selling an apartment in a new building

When buying an apartment in a new building, when the construction of the LCD has not yet been completed, the main risk lies with the buyer. It is important that the building is handed over “on paper”, i.e. Acceptance by the state commission was held.

The apartment must meet the following criteria:

1. Pass the procedure of acceptance and passage within the framework of the state commission.
2. Complete the requirements specified in the transfer act, as well as satisfy the expectations of the buyer.
3. Do not have certificates of double sale or transfer to third parties for sale.

Regarding the last point, it is worth considering the risks associated with the possible actions of intermediaries. They can acquire the right to resale on the basis of the assignment of the right to claim or investment agreement, which can lead to fraudulent schemes.

The most reliable option is the purchase of an apartment in a new building, the seller of which has the right to own it. It is important to pay attention to the type of contract by which housing was purchased: shared participation is considered less reliable.

It is also necessary that the apartment is measured. This act allows you to determine the final cost of housing, which makes the contract more justified. Apartments in houses that have not passed the state examination cannot be the subject of transactions of sale and are not real estate.

If the apartment has not passed a state examination, it is not legally possible to purchase it

Points to which you should pay attention to the purchase agreement

The contract of sale of the apartment has standard content and consists of several points:

1. Description of the object. The contract should contain a detailed description of the apartment, including its location in the house (apartment number, entrance, floor), total area, number of rooms, bathrooms, as well as other characteristics (for example, the presence of a balcony or loggia). This avoids misunderstanding and disputes about the characteristics of the apartment.
2. Price and conditions of payment. The contract should record the total cost of the apartment, as well as payment conditions. It determines the terms and procedure for payment, possible fines for delay in payment, as well as what expenses the buyer carries (for example, taxes, commissions).
3. The deadlines for the construction and delivery of the facility. The contract must prescribe the deadlines for the completion of construction and the delivery of the facility. This is only the date of completion of construction, but also the terms for the provision of keys and possible fines for violation of the deadlines on the part of the developer.
4. Guarantees and obligations of the developer. The contract must contain the obligations of the developer on the quality of construction, including guarantees for finishing work, engineering communications and other structural elements.
5. The rights and obligations of the buyer. The contract must also indicate the rights and obligations of the buyer. This item includes the procedure for acceptance of the apartment, obligations to pay for utilities, as well as other rights and obligations depending on the seller’s requirements.
6. Other conditions and provisions: other important conditions can be included in the contract, such as ownership of the apartment, the conditions for the transfer of property rights, possible restrictions on the use of the apartment (for example, for living or commercial activity).

When concluding an agreement, it is important to carefully familiarize yourself with all points

Documents necessary for buying an apartment in a new building

The following documents are required to buy an apartment in a new building:

• Passports of the parties, as well as a certificate of state registration of a legal entity (if a legal entity is involved).
• License to build apartment buildings, tolerances and construction permits, as well as a resolution of the municipality on the construction of the building (if necessary). These documents confirm the legality and permit for the construction of the facility.
• Documents for the right to use land for development.
• The contract of sale of the apartment in the new building. It is recommended to use a sample of the contract of sale corresponding to the current laws of legislation.
• The contract of participation in the share, if any, is concluded within the framework of the transaction.
• An additional deposit agreement, if provided for in the transaction.
• A transfer act that confirms the transfer of rights to the apartment.
• The act of state acceptance on the official form certifying the readiness and compliance of the apartment with the established requirements.
• The technical passport of the apartment containing information about its parameters and characteristics.
• Act on the transfer of funds confirming the fact of payment.
• Paid receipt for registration of property rights necessary for the registration of ownership of the apartment.

The purchase of the apartment has undoubted advantages. If you conclude an agreement with the developer, who is with a legal entity, you do not need to worry about his legal capacity or other aspects, such as the mental state or the correct distribution of the inheritance.

Sample contract for the sale of an apartment

The contract of sale should be the following points:

1. The subject of the contract (description of the apartment).
2. The source of payment for the purchased apartment.
3. The calculation procedure between the parties.
4. Rights and obligations of the parties.
5. The validity of the contract and other conditions.

It is important that the contract is drawn clearly and understandable for both parties to avoid misunderstandings and disputes in the future. Typical sample of the contract Available by link.