By many parameters, secondary housing can be a more reliable investment, but modern new buildings have more advantages and are only gaining momentum in demand:
- Developers use innovative construction technologies.
- Increasingly, customers are offered non-standard, convenient layouts.
- There is an opportunity to save money and buy real estate at the excavation stage.
Having made a choice in favor of a new building, you will certainly be interested in how the buying an apartment from a developer: paperwork, verification of the construction company, reception of premises, registration of rights and other nuances - we will talk about them in this article.
How to start the process of buying an apartment in a new building
- Materials used in construction.
- Available areas and layouts.
- Home readiness for use after construction or at the time of purchase.
By the way, if you are thinking about buying real estate, we recommend that you contact our professional luxury real estate agency THE Capital.
Buying an apartment in a new building depending on the budget
How you buy an apartment in a new building largely depends on the condition in which you plan to buy real estate. It is financially more profitable to purchase an object at the excavation stage, but this carries certain risks. For example, construction may turn into long-term construction due to the ruin of a construction company. Sometimes it is more correct to purchase an apartment during the construction process, but shortly before commissioning. At this stage, you can also save money, since in fact the construction is still ongoing.
Read more:: How to rent out non-residential premises?
When preparing for the purchase of an apartment in a new building, also keep in mind that some developers offer more loyal conditions when choosing objects on the lower floors or with a standard layout. Sometimes developers offer discounts on the entire property price or announce seasonal price cuts and promotions - this is also a way of significantly adjusting the budget downward.
Buying an apartment from a developer: choosing and checking a company
The process of buying an apartment from a developer will be simple and straightforward if this company works transparently and acts in the interests of investors. This means that the choice of the builder must be careful and thorough. Therefore, if you have a question about what to check when buying an apartment in a new building, first of all, it is recommended to pay attention to the following:
- How many years the developer has been working in the construction market.
- Are there any permits for the implementation of core activities and the right to a specific site where construction is underway?
- What is the developer's reputation among clients and how impressive is his financial portfolio.
Our experts, knowing the rules for buying an apartment in a new building, advise taking into account four factors when choosing a developer:
- What is the organizational and legal form of the company.
- Does the company have any debts?
- Are there in fact documents for activities and construction - they should be generally available in offices and on the official website.
- Who finances the construction company - personal funds, investors or banks.
If there is no experience, it is better when realtors and lawyers who constantly work with the primary residential real estate market and know all the pitfalls of such a choice are checking and helping to prepare documents for the purchase of an apartment in a new building.
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The main stages of buying an apartment from a developer
Most investors think that if the purchase of an apartment from the developer has already begun, the documents have been collected and payment has been made, then they are already full-fledged owners of new housing. In fact, it takes a long way to get the title to real estate. To begin with, it should be noted that real estate registration is possible only if the developer:
- Has in his hands certified documents on the distribution of residential and non-residential real estate in the new residential complex.
- Prepared and certified a technical passport issued by the BTI.
- Received confirmation from SASI (State Architectural and Construction Inspection).
- Has a building permit, and later receives the right to put buildings into operation.
- Undertakes to assign or has already assigned a postal address to the house.
Buying an apartment in a new building: step by step
The stages of buying an apartment in a new building are divided into two points:
- Preparation of documents.
- Registration of documents.
- Communication with representatives of the developer... Study of the plan and selection of the optimal apartment for the required characteristics: layout, floor, exact location.
- Preparation of a preliminary contract... The rules for buying in a house under construction or a finished new building necessarily imply the preparation of an agreement and giving time to a potential buyer to study it.
- Making amendments to the contractif available.
- Signing of the contract... Carried out simultaneously by two parties with a detailed description of the data. The buyer indicates his passport data, identification number, contacts. From the side of the builder, the following is prescribed: the full name of the organization, the organizational and legal form, data on registration in state institutions. The buyer signs and decrypts, the developer - the real signature (not facsimile!) Of the manager and the seal.
- Money transfer... If an apartment is purchased through a bank in a new building, the paperwork is supplemented by the point of contacting the bank or by submitting documents for a loan. Only after a positive decision to satisfy all the requirements by the buyer, the bank transfers the funds to the developer.
- Signing of the acceptance certificate of the object.
- Registration of the right to residential real estate.
If an apartment in a new building is bought through an intermediary, that is, our real estate company, then an additional agreement is signed, which outlines all the duties and procedures for the work of realtors and lawyers.
What documents should be when buying an apartment in a new building
Currently the documentation list includes the following:
- Acceptance certificate. Issued by the developer upon request at the stage of complete readiness of the house. The future owner must first inspect the housing, and only then sign the act. If an unfinished apartment is purchased from a developer, the document is replaced with a temporary explication of housing, that is, with a detailed architectural explanation of the project being built.
- Cadastral passport. The passport is obtained at the stage of registration of real estate in the register in the cadastral register.
- Registration of ownership - issued by the registration service of Ukraine, the document confirms the right to the acquired property.
- To conclude an agreement, you need to prepare a passport and photocopies of all owners of the acquired property.
- The contract with the developer is issued by him, signed by both parties in duplicate. If housing is purchased during the construction phase, an investment agreement is issued.
The documents for buying an apartment in a new building may also include a loan agreement and a mortgage, if the object is purchased through a bank loan. All the listed securities are issued by a credit institution.
The procedure for paperwork when buying an apartment in a new building: registration of property
- The buyer signs the application.
- The institution considers it within 30 days.
- Based on the results of consideration, if the procedure for buying an apartment in a new building is not violated, the applicant is considered the owner, about which he receives a corresponding document.
Now you are a full-fledged owner of the property, you need to register in the apartment and register relatives. Was the post interesting and helpful? Subscribe to our updates real estate blog and get the latest publications from the real estate agency THE Capital.
