How to sell an apartment yourself: step-by-step instructions

For those who want to sell an apartment without a realtor, we have collected all the tips on preparing an apartment for sale, a list of necessary documents, the nuances of completing the transaction and making payments in one place. Use our step-by-step instructions to help you sell your apartment on your own!

How to sell an apartment yourself: general rules

If you are planning to sell an apartment yourself, you must be prepared to spend time and money on it. With a realtor, the process will be faster, but for help in finding a buyer you will have to pay 10% of the transaction cost, depending on the region. It makes sense to contact real estate agencies if we are talking about selling a “complex” apartment - for example, located in another city, etc.

If you are selling a standard apartment and carefully follow the instructions, then there should not be any special problems.

Before selling you will need to do:

• Collection of missing documents;
• Conduct pre-sale preparation of the apartment;
• Place advertisements for the sale of an apartment on relevant web sites;
• Organize a viewing of the apartment for potential buyers;
• Check buyers' documents;
• Conclude preliminary and main agreements.

When selling an apartment on your own, you also need to take into account whether it was purchased with maternity capital or not, whether minors live in it, whether there is a mortgage encumbrance, etc.

How to choose the right apartment to buy: resale has many legal nuances

With all its advantages, buying a home on the secondary market is a pig in a poke. How to choose an apartment to buy with minimal risk? A universal rule is to collect all possible information. For any deviations from the standard situation, involve specialists or look for another option.

Here are typical examples of such deviations that require special attention:

• the apartment was received as a result of privatization - if one of the residents registered in it at that time refused to participate in privatization, then he retains the right to live for life without being the owner;
• an incapacitated person or a minor will participate in the transaction - if the purchase of an apartment is contested in court, the chances of losing your purchase are very high;
• the apartment is sold by an heir , especially one who recently received an inheritance - due to the risk of judicial cancellation of the transaction by other heirs;
• The last change of owner of the apartment was registered less than 3 years ago - this is the period that provides some insurance against fraudsters or the consequences of judicial termination of previous transactions.

Selling an apartment: where to start

Conventionally, the process of selling an apartment can be divided into two stages: preparatory and main.

What is needed to sell an apartment:

• Determining the value of your apartment;
• Decluttering, cleaning, emptying the apartment of things;
• Cosmetic repairs - if necessary;
• Collection of documents;
• Placing advertisements and sales on thematic resources;
• Showing the apartment to responding buyers.

The main stage of selling an apartment includes:

• Drawing up a preliminary agreement and receiving a deposit;
• Signing of the main agreement with subsequent registration;
• Transfer of apartment and keys;
• Receiving the remaining money;
• Payment of tax duty.

Step-by-step instructions for selling an apartment without a realtor

Determining the value of your apartment.

There are two ways to go here:

• Independently monitor prices for apartments in your area, comparing your apartment (footage, technical condition) with similar apartments. This way you can understand the average price on the market.
• Order an apartment appraisal report (price from 2-3 thousand rubles), which will contain information about the market value and liquidation value of the property you own.

Do not forget that the price at which you are going to put the apartment up for sale must correspond to the market value. An inflated price will force potential buyers to consider more profitable offers, and accordingly, you will not be able to sell the apartment quickly.

How to choose an apartment with a low price

Housing on the secondary market itself is 20-30% cheaper than in new buildings. However, on the secondary market the price range is quite significant. On the one hand, the cost of an apartment is influenced by objective factors - the area, wall material, footage, number of floors, condition of the house, and the like. On the other hand, subjective reasons can force the seller to reduce the price:

• moving,
• urgent need for money,
• the apartment is mortgaged and will soon be put up for auction,
• conflict situation.

In each of these cases, there is a risk of falling for scammers and, at a minimum, spending money on a trial. Or even lose both your apartment and your money.

When determining the cost of an apartment, we recommend taking into account the following parameters:

• An area whose size is directly proportional to the price: more square footage means higher cost;
• The number of rooms and their location relative to each other. Isolated rooms and separate bathrooms will have an advantageous effect on the price. But adjacent rooms and a combined bathroom will lower it. The same applies to storage rooms, laundry rooms - their presence or absence, as well as the condition of the balcony.
• Number of storeys (the first and last ones are in less demand);
• The presence or absence of repairs;
• Location and infrastructure of the area. In cities with a population of over a million, apartments near transport interchanges and the metro are more highly valued. For families with children and the elderly, the close location of hospitals, pharmacies, parks, schools, kindergartens and playgrounds will be important.
• General condition of the house. Thus, houses built half a century ago may have technical problems: leaking roofs, poor plumbing, etc. We would like to make special mention of houses that are classified as cultural heritage sites (cultural heritage sites). Selling them is much more difficult, despite the tempting idea of ​​living in a cultural monument. Taxes and repair requirements are much higher here, making them less attractive to buyers.
• Legal aspects: presence of encumbrances, unpaid utility debts, etc.

Pre-sale preparation of the apartment

Give your apartment a presentation! Carry out a general cleaning and get rid of unnecessary things that “eat up” square meters. This way you can show off the space and create a cozy atmosphere, which will make the apartment more attractive. If necessary, you can make cosmetic repairs, as well as bring windows, doors, electrical and plumbing into working condition. According to statistics, even if you spend 3% of the property value on renovations, you will sell the apartment for 7% more.

If there is no remedy at all, you can peel off the wallpaper and, at a minimum, wash the apartment of dust and dirt. Such an apartment can be put up for sale as prepared for renovation.

Also, the condition and appearance of the entrance, staircases, etc. may influence the purchase decision. Clean walls, free of graffiti, will at least make the entrance more attractive.

Collection of documents

Here is a list of necessary documents (and deadlines) that you will need when selling an apartment on your own. Please note that the list of documents when selling an apartment may have its own characteristics, for example, if you are selling an apartment purchased with maternity capital, with a mortgage, or if you have minor children.

How to choose an apartment to buy: what to focus on in the end

In addition to collecting legal and technical information about apartments, you also need to collect information about the plans and intentions of the seller. Such details can significantly influence the final decision on choosing a particular apartment on the secondary market.

1. if the owners plan to buy another at the same time as selling this apartment, the transaction may take a very long time or even fall through after some time;
2. if the owners have owned the apartment for less than 3 years, they may not agree to indicate the full cost in the contract because of the tax they will have to pay. In this case, you will not be able to obtain a mortgage for the purchase of this apartment.

What documents are needed to sell an apartment?

Basic list of documents for selling an apartment

• USRN Help
• Cadastral and technical passport
• Extract from the personal account
• Certificates about family composition
• Preliminary purchase and sale agreement
• Contract of sale
• Apartment acceptance certificate

Posting an ad

We advise you to adhere to the following rules for posting and preparing an advertisement:

Shoot the apartment in the morning or afternoon in natural light. When shooting, emphasize the footage and the main advantages of the apartment. If there is a storage room, remove it. If the bathroom has new tiles and the pipes have been changed, this also deserves attention! Show the view from the window, the availability of parking, and a well-groomed local area.

When composing an advertisement, indicate the main parameters of the apartment, note the infrastructure (gardens, schools, hospitals, etc.). Make the ad as informative as possible so that the buyer does not have any questions.

Place an ad on several sites for the sale of housing. These can be both websites and groups on social networks, where it is possible to post your ad for free (or for a small price) and sell it.

Showing the apartment to potential buyers

Be polite and friendly - a pleasant impression, including from the owner, is conducive to making a purchase. During the conversation, find out for what purpose the apartment is being purchased. For those planning to rent out, a concession in the form of household appliances or furniture that you are willing to keep will be relevant. For those who are buying for themselves or loved ones, tell them in detail about the advantages of your particular apartment compared to similar ones for sale in the same area.

Transfer of money when buying an apartment. How does money transfer happen when buying an apartment?

How to properly organize an apartment inspection

Since choosing a resale apartment is not an easy task, you should prepare for a personal visit to your future apartment:

• agree with the seller on the time and duration of acquaintance with the property - let them reserve enough time for you, at least 1-2 hours;
• by the time you arrive in the apartment there must be title and technical documents, and in the original - to check the layout and other issues;
• invite the owners to the meeting and look at their passports - do not hesitate to make sure who is standing in front of you when you meet in person.

Arrive ahead of the appointed time and inspect the surrounding area, the house itself and the entrance. Pay attention to the condition of windows and doors in other apartments - this may give some idea of ​​​​the social level of your neighbors.

During the inspection, act methodically, using a pre-prepared list of questions. Do not allow yourself to be distracted by small talk from the essence of what is happening; you can even directly ask for silence. This will allow you to notice all the flaws in the room and get the answers you need.

You may be able to justify the proposal to reduce the price of the apartment due to identified shortcomings or circumstances. Among them may be, for example, the following:

• the entrance door to the apartment is located next to the elevator;
• corner apartment;
• electrical wiring needs to be replaced.

Main stages of selling an apartment

As we said above, the main stage of buying an apartment includes:

• Signing a preliminary agreement or deposit agreement;
• Signing the main purchase and sale agreement;
• Its registration;
• Receipt of the remaining amount.

Preliminary purchase and sale agreement/deposit agreement

If you are selling an apartment yourself, you will need to conclude either a preliminary agreement or a purchase and sale agreement. Both are designed to record the buyer’s intentions – to buy, and the seller’s – to sell. During these agreements, the buyer pays a portion of the cost of the apartment, and the seller removes all advertisements for sale from web sites and stops showing the apartment to other potential buyers. Contracts are needed to give time to both the seller and the buyer to collect the missing documents, with a short validity period (therefore they are collected immediately before the transaction itself).

Is it worth hiring a realtor?

Arguments for"

• You don't have to look for housing on your own. A realtor will select the appropriate option according to your requirements and save time. The main thing is to formulate your preferences very precisely.
• You do not need to delve into the legal intricacies of buying an apartment yourself. A realtor should deal with all issues related to the purchase process and inspection of the apartment.
• A realtor will evaluate the apartment with a professional eye and tell you about its advantages and disadvantages. Based on this, he will be able to reasonably bargain with the seller to reduce the price.

Arguments against"

• An agreement with a realtor does not guarantee 100% purity of the purchase and sale transaction. You will have to check all the details yourself.
• You are losing money. Depending on the complexity of the transaction, the realtor’s commission ranges from 1 to 6% of the amount. That is, when buying an apartment for 6,500,000 rubles, you will pay the intermediary from 65,000 to 390,000 rubles. Agree, they would be useful to you yourself.
• A realtor can only offer you those options where he is offered a commission from the seller. These are so-called “affiliate deals”, when the developer or seller pays the buyer’s realtor from 0.5% to 4% for the referred buyer.

note

It is your right to decide which option to choose. You can choose and buy an apartment yourself, saving money. The main thing is to be careful. After reading our instructions, buying an apartment without a realtor will not seem so difficult.

What is the difference between a preliminary purchase and sale agreement and a deposit agreement?

The preliminary agreement includes the following points (they will also be duplicated in the main agreement):

• The cost of the apartment and its main characteristics (footage, address, number of floors, etc.);
• Payment procedure (one time, in parts, etc.);
• Who pays and for what during the purchase and sale of an apartment (payment for notary services, renting a safe deposit box, etc.), as well as the responsibility of each party in case of refusal of obligations;
• Deadlines - when the seller vacates the apartment and removes it from the register, as well as the terms within which the transaction will be finally completed, the money will be transferred, and the seller will hand over the keys to the apartment.

Payments for an apartment

• When paying in cash. One of the most reliable ways to transfer money is a safe deposit box. It is rented by the buyer for the period within which registration actions must be completed (approximately 10-14 days). The money is placed in a safe deposit box in the presence of bank employees, the package containing the payment is sealed and sealed. After registering the transaction in Rosreestr, both parties receive a registration agreement and an extract from the Unified State Register of Real Estate confirming the transaction. Based on these documents and the apartment acceptance certificate, the seller will receive the money deposited in the locker.
• For non-cash payments, a letter of credit and a payment order are used. If a buyer purchases your apartment with a mortgage, then non-cash payments are also used here. The bank transfers money to the seller’s personal account after registering the transfer of ownership (agreement).

Methods of transferring money

Real estate experts identify four main methods of transferring money that operate in the market.

Buying an apartment for cash

Buying an apartment for cash

The seller and buyer meet, sign documents and transfer money. It is best to do this in a bank, in a meeting room.

Important! It is worth transferring cash after the transfer of ownership. That is, after you officially become the owner and receive an extract from the Unified State Register of Real Estate in your hands.

Be sure to make a receipt, it will confirm that you have given the money and do not owe anything else to the seller. In the document, write down the amount, details of all parties, describe the property and its exact address.

According to realtors, transferring money in cash was popular in the 90s, but is now used less and less in transactions. Because sellers and buyers do not find this method convenient. Walking around with a large amount of money is dangerous; you need to count it correctly and not make a mistake.

Cashless payment when purchasing an apartment

Cashless payment when purchasing an apartment

When the buyer transfers money to the seller's account. Here it is important to specify the purpose of the payment: indicate that the funds were transferred under the purchase and sale agreement, as well as the address of the property that is involved in the transaction. Afterwards, you can at any time request a statement confirming that you actually transferred money. Unlike cash transfer and receipt, this method provides more guarantees that no one will deceive anyone.

Money can be transferred by agreement of the parties. But for you, the buyer, the later the better. That is, after the transfer of ownership. But often, if the seller urgently needs money, he may ask to send it in advance, since transfers can take up to five business days. After this, immediately ask for a bank statement, it will become your guarantee.

Money may be stuck for an even longer period if the seller’s details are incorrectly specified. Or, for example, a bank can block an account if a person has made some kind of suspicious transaction.

Safe deposit box when buying an apartment

Buying an apartment using a safe deposit box

The parties take the same cash and deposit it in a safe deposit box at the bank.

The seller and buyer must agree on the shore that they will use this method. Next, the parties enter into a locker rental agreement with the bank. There they state the amount of payment for the service; it starts from about 300 rubles, depending on the financial institution. It indicates who will have the keys, who will pay and what document is needed to open the safe.

Next, the parties must sign a purchase and sale agreement. Then the money is counted, packed in vacuum bags and placed in a cell.

Once the transfer of rights has taken place, the seller can open the safe and take the money. He must come with his key and a registered purchase agreement.

Important! The bank is responsible only for the safety of the cell. What you put there is of no concern to the creditor. Moreover, employees of a financial institution will not recalculate the amount; this is a headache for the buyer and seller.

Letter of credit when purchasing an apartment

Buying an apartment using a letter of credit

This method is increasingly gaining popularity. Its essence is almost the same as with a safe deposit box. Only you don't have to invest cash. The funds go to a special impersonal account that does not belong to either the seller or the buyer. The parties also enter into an agreement with the bank and specify all the nuances in it. The cost of the service will cost a maximum of two thousand rubles. Some financial institutions provide this service free of charge, but they stipulate in the contract a certain period for storing money.

If the dates are not specified, then the money will remain in a special account until the buyer becomes the owner of the apartment. As soon as the transfer of rights takes place, the funds will go to the seller automatically. Or he will be notified about the end of registration and he will personally need to come to the bank and show documents.

Unlike a safe deposit box, with a letter of credit the financial institution is fully responsible for how and what amount the buyer transfers to the seller.

Which method to choose is up to you. Compare all the pros and cons and think about what is more convenient for you. Discuss this point in advance with the seller so that there is no misunderstanding. And, most importantly, don’t make mistakes.

Transferring an apartment and receiving money

After registering the transaction, the buyer receives a registered agreement and an extract from the Unified State Register of Real Estate, indicating that an entry has been made in the register. The seller is given only his copy of the contract. The next stage is the transfer of the apartment and the execution of the transfer and acceptance certificate. It is drawn up in two copies, and if the buyer attracts borrowed funds - in 3 (+1 for the bank). Based on the registered agreement and the transfer and acceptance certificate, the bank gives the seller access to the money. This concludes the transaction for the independent sale of the apartment! Congratulations!

Text: Daria Morozova

Summary

The answer to the question of how to choose the right apartment to buy depends on whether you are ready to entrust this to specialists or prefer to do it yourself. In the first case, the task essentially comes down to choosing a qualified realtor and lawyer. But when independently organizing the purchase of an apartment on the secondary market, you will need to go through a number of stages:

• search for apartment options,
• verification of documents,
• inspection of housing, identification of hidden defects,
• discussion of the deal,
• preparation and execution of documents.