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Registration of buying an apartment in the secondary market

20.12.2021

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Registration of buying an apartment in the secondary market
Buying an apartment on the secondary market carries many risks. Very often, transactions for the sale of secondary housing are invalidated and the buyer has to defend his right in court. Therefore, the registration of the purchase of an apartment in the secondary market must be approached with careful preparation. Verification of the seller's documents is the most important and responsible stage in any real estate transaction. If you have no experience in buying an apartment in the secondary market, it is better to contact a professional lawyer. Read more:: Power of attorney for the sale of the apartment. The specialist will carefully check all the documents of the seller, and also determine if there are any risks, find out what debts there are on this property, whether the property was legally acquired, etc. If for some reason you cannot or do not want to seek the help of a lawyer, make sure that the necessary documents are submitted by the seller in full. The list of documents for registration of the purchase of an apartment in the secondary market:
  • certificate of title;
  • originals of passports and identification codes of all co-owners of the apartment;
  • notarized consent from the co-owners for the sale;
  • technical passport for the apartment;
  • expert appraisal of real estate;
  • Help Form-2;
  • certificate of absence of debt.
A careful analysis of the documents, identity and authority of the apartment seller will help you avoid risks related to property rights and use rights, as well as financial damage. Read more:: Taxes when buying an apartment.

Risks when buying an apartment on the secondary market

The number of risks at buying an apartment in the secondary market is much higher than in the primary. We will not list everything in the article, but we will name only the main ones associated with the most popular fraudulent schemes:
  1. Buying real estate with a false power of attorney.
  2. Acquisition of real estate with registered tenants.
  3. Illegal privatization - everyone who is registered in the apartment must participate in the procedure for registering the purchase of an apartment on the secondary market. Be wary if the seller assures that a wife registered in the apartment, for example, has been living abroad for a long time and there is no way to contact her, but gives a XNUMX% guarantee that she has no claims to real estate. It may happen that that same wife suddenly appears and declares her rights to the apartment. Then the transaction will be considered invalid.
  4. Inconsistent sale - for the transaction to be considered valid, absolutely all apartment owners must say a resounding "yes" and confirm their consent in writing.
You can avoid risks when buying secondary real estate and not become a victim of scammers only if you take the issue of security of buying an apartment on the secondary market under total personal control. But if you do not have the relevant knowledge, experience and iron nerves, entrust this matter to professionals. Lawyers will check the apartment on the secondary market, collect a dossier on its tenants, find information about the former owners, and request all the necessary documents. Subscribe to our updates real estate blog and get the latest publications from the real estate agency THE Capital.

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