Buying property on the green

Buying property on the green

Steps to be taken before a contract is signed

1. The first step is to consult the Property Register for the land on which it will be built. It is checked whether the person owns the land on which he will build the future property and if he is not - is he entitled to the construction. It is important to understand whether there are any encumbrances, such as a mortgage. The register is public, so it can: Направи make an oral reference to the entries in the account of the real estate; Получи to obtain an uncertified copy or extract from it; Получи obtain a certificate of entered or unregistered circumstance. These services must be subject to the appropriate fees. 2. If everything is right with the respective plot, the next step is to seek information in the Commercial Register of the person with whom the contract will be concluded. Oral or written reference may be made. The reference that can be made can be used to verify that the construction company exists, whether it has been declared bankrupt and whether it will have the financial means to fulfill its task of building a home at all. Method of contract conclusion As there is no building yet, there is therefore nothing to sell and transfer to the property. For this reason, usually the seller concludes a preliminary contract for the purchase and sale of real estate. It must be written in black and white. If this requirement is not met, the contract will be void. A final contract may be concluded to transfer the property after the building has been built. Because it is real estate, a notary will need to prepare a notary deed under this contract. The preliminary contract must stipulate: Description of boundaries, to determine the property ID, area and rooms. It would be best for me to have a more detailed description if there is any problem. The due price shall be determined at the latest at the time of completion of the rough construction. You can pay the full amount when renting the house, pay a down payment or make separate installments at different stages of construction. It is not a problem if there are minor differences in the area, changes in the plan, as the property will not be built yet. It is enough to know without any doubt which property is negotiated with the seller. In addition to those things that are mandatory, everyone is free to negotiate with the seller and other clauses, and they can ensure that the home is received if something goes wrong. Ownership of the apartment When the building is completed in rough construction, a final contract can be concluded and ownership of the apartment can be transferred. Since it is real estate, the property can only be transferred by a notary deed to a notary in whose area the property is located. The other thing I have to do is pay the final price. After the preliminary contract has been concluded, it is assumed that part of the price of the property has been paid, therefore only the remainder of the agreed amount is paid upon conclusion of the final contract. It is recommended that the property be provided with Act 16 or another permit to use the property. Otherwise, built for nothing will do the job for you. The final step is the notary to give the notary deed for entry in the Property Register. This way you will be able to protect your property rights against third parties claiming to own this home. Right of defense Provided that the seller refuses to conclude a final contract, anyone can claim their rights in court through a lawsuit. Of course, you must be honest and have fulfilled all obligations under the contract. Once the court has upheld the claim, the final contract is considered concluded when the decision enters into force (ie all possible time limits for appeal against the decision have elapsed). The deadline for payment of the full price agreed for the property from the entry into force of the decision is 14 days. Accounts payable to the seller must be deducted at the expense of the seller. The cost of the transfer of the property must be paid to the State. Failure to do so, at the request of the seller, the court invalidates the decision.