Real estate transaction – stages of a long way
Each stage of the transaction of sale or exchange of residential real estate has its own characteristics. Realtors help sellers and buyers not only find each other, but also overcome the whole difficult path – from viewing the property to the moment the property is transferred to new owners.
Do you think simple transactions and “convenient” clients are common? Ask your agent about this. Surely he will confirm: both buyers with all the necessary amount at the ready, and sellers of apartments in which no one lives and is not registered, are rare. Most clients are participants in the exchange, people with ordinary life circumstances that inevitably affect the course of the transaction.
Therefore, when planning each stage of interaction, it is necessary to tune in to cooperation and reasonable compromises in advance. With a different approach, few would solve their housing problems. After all, the chains built by realtors sometimes include up to ten or more links. It is thanks to the skill and perseverance of real estate market professionals that the “direct” money of the head buyer at the beginning of the chain and direct sale at the end of it allow you to change your place of residence for several more families – from the middle. But this complex design will be sustainable only if all its participants deliberately assume certain obligations and strictly adhere to them in accordance with the terms of the contract.
You can’t do without a professional
For both the seller and the buyer, each stage of the relationship in a real estate purchase and sale transaction has its own nuances. Overcoming difficulties helps the professional participation of a realtor.
When preparing for notaries, it is most reasonable for sellers to draw up a power of attorney in advance on a strictly defined list of powers – only to prepare the necessary documents – and entrust this laborious process to their agents. After all, these are repeated visits to the passport service, PIB (Design and Inventory Bureau), and the Rosregistratsiya Office (the former SRB).
By virtue of circumstances, other organizations — guardianship and trusteeship bodies, tax authorities, etc. are not left without attention. It happens that citizens are categorically not inclined to let go of the reins of government and they want to do everything on their own. However, the agent is still obligated to control every step of the client in the transaction – he is personally responsible for the success of the process of collecting and preparing documents. So is it worth the client everywhere to go with an escort, wasting precious time?
When all the necessary documents for notarization have been collected, the moment of laying the money comes, that is, the buyer makes the full amount necessary to pay for the property. We have already told in detail about the forms of calculations and will return to this important issue. The most popular is still renting a safe deposit box at the bank. Participants in the transaction with the help of a professional draw up a detailed agreement on the procedure for making settlements at different stages of the transaction.
Bookmarking money in a bank safe occurs on the eve of the notary or directly in front of him. Amounts are distributed in accordance with the planned payments, sealed and placed in a safe (s) in the presence of all participants in the calculations. Who gets the keys to the cell for storage? Usually the most reverent of clients is to reassure him by the very fact of owning the treasured object. Since – in accordance with the procedure for bank safekeeping – it does not matter how many keys are issued and who holds them. The main principle of visiting a bank vault is the simultaneous appearance with passports of all persons specified in a bank agreement (usually from three to seven people). And if at least one is missing, the rest will not fall into the repository. Having visited the bank and having lightened pockets, the whole company goes to the notary …
Good old notary
Why go to a notary public? Legally savvy citizens know that the law provides for the possibility of registering purchase and sale transactions with an agreement in simple written form. Yes, it is theoretically possible to draw up such an agreement and submit it directly to the State Registration Office. Here are just the likelihood that you will not take into account any nuances and receive a refusal to register or do not recognize the reason for the subsequent termination of the transaction, will be an order of magnitude higher.
Accepting the contract from the parties, the inspector should not (unlike the notary public) delve into the nuances of the situation, determine the legal capacity of the parties, and explain to them the legal consequences of their actions. And if several objects appear in the chain? Therefore, most citizens prefer to act for sure, and in the practice of agencies, a notary is always present in the transaction scheme. Moreover, he is responsible for his mistakes with a license, and his professional liability is insured – if he suddenly makes an unintentional mistake that damages the client, the losses will be compensated.
If you are going to a notary office, in advance you will receive from the agent a written list of the documents you provide. Otherwise, you risk a number of extra runs on this already troublesome day. You would know how often clients, under the influence of stress, forget to take even passports with them! And what can we say about the testimonies (about birth and death, about marriage and divorce) and all sorts of references! In addition to the standard package of documents, a specific transaction may require additional securities, which are completely optional from the point of view of common sense. But the notary public and registration authorities have their own vision, dictated by law. So it’s better to stock up with a written instruction from the agent so that you don’t get nervous or put off the deal in vain.
About the benefits of patience
The contract is subject to state registration. To avoid confusion and delay, give your agent a happy opportunity to do this for you by proxy. Only after registration, ownership is considered transferred to the buyer, and the seller receives the first payment – usually 50% of the amount due. Now, unfortunately, this process does not take three working days, as in 2004, but two weeks (and this is the good will of the local registration authorities, which halved on their own initiative the legal deadline). And here it is important for the parties to be patient – no payments are unacceptable before registration, since only at the time of its completion the transaction is considered completed. And if a motivated refusal to register is received?
Unfortunately, sometimes negative information (about seizure of an apartment, about a ban on registration on the basis of a court decision, etc.) can come to the registering bodies after an extract from the Unified State Register of Real Estate Rights has been issued that there are no arrests and encumbrances on the property.
The second part of the funds due is paid after registration (registration) of all sellers and family members living with them on the sold housing, at their new place of residence. Re-registration (formerly “re-registration”) is an official confirmation of the waiver of the right to reside in a sold apartment. There are a number of nuances. Often, passport services offer to register immediately at a new address (in this case, a citizen will be automatically deregistered at the old place of residence). But the notice of registration will quietly sail through the waves of police mail for several weeks. All this time, the seller and his family members will be considered not to have left the living space, innocently bringing its buyers to a nervous breakdown. Do not worry. If people have provided passports with the appropriate stamps and form 9 (certificate of registered persons) in which they are indicated, from a new place of residence – this is just a reason for complete reassurance.
Passed – accepted – signed
The release and transfer of the object to the new owner under the act is the final chord of the entire transaction, followed by the payment of the remainder of the amount – usually 10%.
Popular wisdom has long equated two relocations to one fire. Moving is an excellent occasion for the “Italian New Year” – getting rid of things that have served their age. But parting with acquired good things can be so difficult! Especially economic citizens sometimes “undress” their apartment, removing mixers and switches, screwing up door handles. And they are unpleasantly surprised if the new owner refuses to sign the act of acceptance until the housing is brought into a condition suitable for operation.
Therefore, we remind you: the apartment is transferred with those elements of sanitary, electrical and gas equipment with which it was demonstrated to a potential acquirer. And any replacements are agreed with the buyer in advance, in writing. If you can’t imagine your life without your beloved imported slab or marble sink built into the curbstone, please note: when exporting (with a written consent in the preliminary agreement of the buyer) the above household items, you must install a replacement in satisfactory cosmetic and technical condition. This applies to both the kitchen and the sun block. Those zealous citizens who take with them everything that can be unscrewed without the risk of destroying the house will rightly be offered to restore the seized money or to compensate for a fair amount of the last payment due to them.
When transferring real estate, the parties get acquainted with receipts for utility bills, telephone, electricity. At the time of acceptance, it is advisable to check in the service 09 the absence of arrears on long-distance telephone calls – in order to avoid misunderstandings, which could result in the loss of tens of thousands of rubles. And hedge against a receipt with an obligation to compensate in the event of “surfacing” of bills for using the phone in the last hours before transferring the apartment. If the act on the absence of claims by the buyer is signed without observing the above conditions and the money paid, it will not be easy to achieve justice.
If the buyer does not move to new housing immediately, it is advisable to immediately change the castle. Indeed, it happened that citizens “apartments” who once left the keys to “undress” the apartments — water the flowers, and in a hurry of departure they forgot about it.
Warmly saying goodbye to each other, do not forget to exchange coordinates: suddenly mail or important information arrives by phone. And it is better to go to the TCP in order to renew the contracts in a coordinated manner, so that no one accidentally remains “without a number”. And happy to you the development of a new home!