Features of buying an apartment in a new building
The sale of apartments in new buildings is carried out by legal entities. Settlements with them should be made only in non-cash form in any of several ways:
According to Art. 861 Civil Code of the Russian Federation
- Transfer from the buyer's account to the seller's account.
- Bank letter of credit.
- Secure transfer service.
- With the participation of the bank in the mortgage.
- Safety deposit box (rare).
Important! Typically, money is transferred to developers' current accounts after transactions are registered. But you need to read the terms of the contract. If an agreement on shared participation in construction is drawn up, the seller has the right to receive payment only after registering the DDU with Rosreestr.
This is directly stated in paragraph 1 of Art. 15.5 Federal Law No. 214-FZ “Features of opening, maintaining and closing an escrow account...”
Advantages of using it in a transaction
According to statistics, a safe deposit box is used in the real estate market more often than a letter of credit or transfer of money from account to account.
- The transfer of money is carried out in a safe place - a guarded bank.
- The banking institution takes on the functions of an intermediary: the seller’s documents are checked and unauthorized persons are not allowed to access the money.
- A seller admitted to the cell can immediately transfer cash to his account or deposit, so as not to move around the city with a large amount of money.
Advantages of the cell:
- 24-hour security of the storage facility;
- a simple way to identify the parties to a lease agreement;
- affordable rent;
- terms of the contract that are clear to everyone (unlike a letter of credit or escrow account);
- no deposit for the key (not in all banks);
- 100% confidentiality.
You may find it useful: Escrow account – what is it: in simple words about purchasing according to the new rules
If the deal falls through, the buyer takes the money himself within a week and without additional payment for the specified period. This is an additional guarantee for the buyer. In the case of ordinary payments, including when transferring money from account to account, if the transaction fails, misunderstandings may arise regarding the return of funds.
An important plus: the secrecy of settlements protected by the bank. The cell rental agreement itself does not indicate the amount that will be stored and then transferred to the seller.
For those who are in no hurry to declare their purchases or are afraid of the attention of law enforcement agencies, a safe deposit box is a real godsend.
Features of purchasing real estate on the secondary market
If an apartment is purchased on the secondary market, individuals usually participate in the transaction. Less often, the seller is a legal entity:
for example, a real estate agency that bought real estate under a fixed-term program from another person and then decided to sell it at a premium.
If the seller is an individual, any payment methods can be used: both cash and non-cash. If the apartment is purchased from an agency, only non-cash payment options are suitable.
Advance agreement for purchasing an apartment
What is the difference between an advance and a deposit when buying an apartment?
How does settlement work through a safe deposit box in an alternative real estate transaction?
If the transaction did not take place because one of the contracts was not recognized as valid, then the buyer will be able to withdraw his money. The seller and buyer do not have simultaneous access to the cell. Read more about the conditions for access to a locker when selling an apartment
Most often, three parties take part in the transaction. This is the simplest scheme. If there are two apartments in the chain, the probability of successfully concluding an agreement is high. If there are more actors in the chain, then the situation becomes more complicated, and if there are more than five apartments, then the deal becomes practically impossible.
Payment methods and procedure for transferring money to the seller
As mentioned earlier, the parties independently determine the methods and procedure for transferring money. This must be reflected in the contract.
But there are certain risks:
- For the buyer, if the seller receives money before registering the transfer of ownership. If Rosreestr refuses registration, and the seller has already spent the funds by that time, it will be problematic to get them back. If the situation cannot be resolved peacefully, you will have to go to court.
- For the seller, if the buyer transfers money after registration with Rosreestr. There is a possibility that he will never see the amount for the apartment, and the deal will have to be challenged in court due to the buyer’s failure to fulfill obligations under the contract.
Legal advice: the best option is to make an advance payment through safe deposit boxes. An advance is usually transferred to the seller in the amount of 10-20% of the transaction amount. The rest is transferred after registration upon presentation of documents confirming the transfer of ownership to the buyer.
Bank safe deposit box
First, the buyer needs to rent a safe deposit box, then put money there in the presence of the seller. A bank employee will check the authenticity of the banknotes. Two cells can also be rented: one contains an advance payment, the second contains the balance received after registration.
When opening a cell, an agreement is drawn up indicating the amount and conditions for receiving money, as well as full name. and the seller’s passport details.
Letter of Credit
A letter of credit can be irrevocable or open. In the first case, it means obtaining the permission of the real estate seller; this option is used most often. An open letter of credit does not require approval from the seller.
With a letter of credit, the bank acts as an intermediary. The buyer signs an agreement with him to open an account, then transfers there an amount equal to the cost of the property being purchased. After registering the transaction, the seller contacts the bank to withdraw money, presenting an extract from the Unified State Register of Real Estate on the transfer of ownership.
From hand to hand
This is the simplest calculation option:
- Transfer of advance payment before registration of the transaction, the balance - after.
- Transfer at the time of submission of documents for registration. There are risks for the buyer, they are described above.
- Transfer of the entire amount after registration of ownership to the buyer. There are risks for the seller.
Note! It is recommended to hand over cash in a quiet and well-lit room. The seller will need time to count the bills. It is advisable to film the process, and after recalculation, take a receipt from him confirming receipt of the amount.
Secure transfer service
The secure payment service works simply:
- The buyer transfers the money to a special account opened at the bank.
- The bank requests information from Rosreestr about registering the transaction.
- If registration is confirmed, the money is transferred to the seller's account.
Many banks have such services. For example, in Sberbank, VTB, Raiffeisenbank.
Bank transfer
This method is similar to transferring money in cash, the only difference being that the buyer independently transfers funds from his account to the seller’s account.
The mechanism is simple:
- The parties enter into an agreement. An advance payment is available upon request.
- The transaction is registered.
- After registration, the balance of the amount goes to the seller by bank transfer.
Lack of receipt is a headache for the buyer
Let me explain right away, the problem is that if the buyer does not and will not have a receipt from the seller, which we talked about above, then legally the buyer as if did not pay for the purchased apartment and legally he still owes money to the seller despite the fact that that in fact the money is in the hands of the seller. And in life it turns out that everything is honest and fair, however, legally - or more precisely on paper - everything is the other way around. That is, the apartment purchased by the buyer has not been paid for...
This means that the buyer risks, having fallen into the clutches of an unscrupulous but competent seller, receiving a claim from him for the recovery of money or for terminating the contract..., that is, losing both money and the apartment...
If the apartment is mortgaged
The purchased apartment may be pledged to the bank under a mortgage or a loan secured by real estate.
There is nothing wrong with this, but the buyer will have to make an advance payment equal to the amount of the outstanding debt to remove the encumbrances. The encumbrance is lifted within three working days. There are two options here:
- Pay the cost in full and submit documents for registration. The seller must pay off the mortgage immediately; until then, registration activities will be suspended.
- Make an advance payment, wait for the encumbrances to be removed, then contact Rosreestr or the MFC to register the transfer of ownership and pay the remaining cost of the apartment.
Important! You need to carefully check the seller's credit documents and make sure that the advance is actually being made to close the debt to the bank. The buyer has the right to request a certificate of the balance of debt.
How to correctly register access to cells in an alternative transaction
It is worth noting that the Alternative has no real access to the Buyer’s funds, and the Seller will receive access only if the condition of state registration of two transfers of ownership in both transactions is met.
In practice, usually all cells are rented for a month. , recipients of money have access to the cells if specified conditions are met, and in the remaining last week, access is given to those who deposited money there (in case registration did not occur and the transaction did not take place).
How does the purchase and sale of real estate occur? Step-by-step instruction
The greatest risk for the buyer is cash payment, because...
When applying for a mortgage, the bank independently checks the apartment for legal purity. What the whole procedure looks like:
- The seller collects documents for the property being sold and presents them to the buyer.
- The parties agree on the transaction and payment details.
- Before signing the contract, the seller orders an extract from the house register and a certificate of absence of debts for housing and communal services from the MFC. The extract is needed to confirm the absence of registered persons in the living space.
- The agreement must be signed in at least three copies; the registrar will need one.
- Documents are submitted to Rosreestr; the presence of both parties to the transaction is required.
- After 10-12 days, the buyer receives an extract from the Unified State Register of Real Estate, where he is indicated as the new owner.
If the seller needs a statement to receive money, it is given to him and then presented to the bank. When paying in cash, it is important to get a receipt from it.
Contents and sample receipt for receipt of money for an apartment
A receipt is issued to confirm receipt of money by the seller.
Sample receipt
It contains the following information:
- FULL NAME. seller, passport series and number, registration address;
- address of the apartment being sold;
- sum;
- wording about payment in full;
- date of compilation and signature.
Documentation
To conduct and register a transaction you will need:
- Contract of sale.
- Extract from the Unified State Register for the seller.
- Passports of the parties.
- Explication (optional).
- Certificate of absence of debts for housing and communal services.
- Loan agreement, if the property is pledged (only needed by the buyer, the registrar does not require it).
- Receipt for payment of state duty.
State duty
For re-registration of ownership of an apartment, a fee of 2,000 rubles is paid.
What it is?
A safe deposit box is a safe deposit box in a bank's secure vault. This is a closed metal box (cell), one key of which is given to the client, and the other remains with the bank employee. To rent a safe deposit box, you must enter into an agreement with the bank and pay the rent.
For apartment purchase and sale transactions, the safe is rented at least one day before signing the deed of sale. The buyer (he is the tenant of the cell) hides the required amount in the safe, receives the key and, after signing the contract, gives it to the seller. However, in order for the bank to allow the former owner to access the locker, it will be necessary to present a number of documents confirming not only the fact of signing the purchase and sale agreement, but also its registration in Rosreestr.
All these conditions are negotiated at the stage of signing the lease agreement for the safe deposit box. In Sberbank of the Russian Federation, as well as many other banks, this agreement is signed by three parties:
- bank;
- buyer;
- seller.
The cell is located in a special room without windows, with video surveillance and special metal walls. To store cash, it is enough to rent a medium-sized cell with a height of 20 cm.
Lawyer's answers to frequently asked questions
What is the difference between a deposit and an advance?
The advance payment is made as confirmation of the intention to buy an apartment. If the buyer refuses the transaction, he can return it. The deposit is not returned to the buyer, but if the seller refuses the contract, it is returned to the buyer in double amount.
How to pay the seller if the apartment is purchased with a mortgage?
The payment method depends on the specific bank. Sometimes the advance payment is made by the buyer himself, and the rest is transferred to the seller by the bank. A letter of credit, safe deposit box or secure payment service may be used.
Is it possible to pay for an apartment in foreign currency?
Yes, but the contract indicates the cost in rubles at the exchange rate at the time of signing.
Who controls the calculations if a realtor is involved in the transaction?
A realtor can represent the interests of the seller or buyer. His responsibilities depend on the terms of the contract with him, but usually realtors accompany transactions from viewing the apartment to registering ownership.
Can Rosreestr refuse registration if the advance payment has already been transferred to the seller?
Yes. The presence of encumbrances may serve as a basis for refusal of registration. Also, problems often arise when selling real estate to minors or incapacitated people, especially if permission from the guardianship authority has not been obtained. The advance payment must be returned to the buyer.
