When buying suburban real estate, the client can meet with the seller directly or indirectly, through a realtor. Most often, difficulties arise precisely in the first case - due to the lack of sufficient experience of the parties to the transaction.
Attracting an agent is a smart decision. Although the realtor, of course, cannot protect against all errors and unforeseen situations. However, with your good knowledge, a thorough study of all the documentation, organized and joint work with a real estate agent, you will get every chance that the purchase and sale transaction will pass quickly and without problems.
ERROR No. 1. "MY AREA - MY ENEMY"
The oldest mistake that lies in the consciousness of each of us. Most people when choosing a development area prefer the one in which they currently live. On the one hand, this is understandable: everything is here, familiar. But when choosing a home, we recommend that you first of all look at the parameters of the house: the technology and materials of construction, the type of heating, the convenience of planning decisions, the improvement of common areas and the local area. It is possible that moving to a new and modern apartment in another area will bring more pleasure than buying ordinary meters in the old one.
ERROR No. 2. “INDIVIDUAL HEATING IS OUR EVERYTHING”
The fashion for the installation of individual heating boilers came to us from Western Europe, where most of the apartments are equipped with individual heating devices. However, it is necessary to take into account the fact that most Europeans live in houses with a small number of apartments, where such a scheme is really justified.
And apartment buildings in Finland, the climatic conditions of which are much closer to Russian ones, are in most cases connected to a central (!) Heating system or heated from autonomous gas boiler houses.
In Russian realities, heat supply of an apartment building from an autonomous gas boiler is the optimal solution: the cost of an apartment in such a house is lower than in a house with individual heating, lower maintenance costs, equipment does not take up space in the apartment, and the risks of an accident are minimized.
Important: no state-of-the-art heating system will save you money in a house with high heat loss. Read about it below.
ERROR No. 3. “BRICK HOUSE - BETTER THAN OTHER”
Another common misconception that emerged in Soviet times, today it has nothing to do with reality.
TRADITIONAL HOUSES FROM SILICATE BRICK 3-4 TIMES TIME LESS IN MODERN FRAME-MONOLITHIC AND IN HEAT SAVING, AND IN SOUND INSULATION.
The brick itself, due to its high density, gives off heat well, so a silicate brick wall requires an additional layer of insulation to meet modern requirements, but this scheme has significant drawbacks.
The best indicators of thermal protection to date are demonstrated by frame-monolithic houses with external walls from autoclaved gas-silicate blocks or ceramic hollow bricks with an additional layer of insulation (100-150mm). Heat losses in such houses are 5-6 times lower than in traditional brick of silicate brick and 1.5-2 times than in conventional panel houses.
Therefore, when choosing a new building, it will not be out of place to get from the builder full information about the design of the external and internal walls (materials and thickness of each layer).
ERROR No. 4. “MEANING PAYS TWICE”
The fourth error in the account, but not in significance. It attracts a low price, but, on the other hand, it has the flip side of the coin. If your arguments were outweighed by the thirst to take cheaply, you most likely made a mistake. The low price does not appear because the developer wants to build on the verge of profitability or decided to make a goodwill gesture. The developer in any case will receive its profit: either due to quality, or due to additional fees.
Booking fees, contract conclusion and higher payments in the management company owned by the developer are the most common ways to compensate for the low cost of selling an apartment.
ERROR No. 5. “VICTIM OF ADVERTISING”
What developers do not tell in their advertising, the main thing is to sell. However, most of the publicity stunts hide many pitfalls. The room as a gift is a pantry of 3 sq.m., and maybe even invented (for example, a kitchen, which by standards is not a room). A mortgage at 9% is the overpayment for 2 years, and even then with an initial payment of 50%.
Carefully read the footnotes under the asterisk and what is written in small print in the conditions of the action, in most cases you will be very surprised by the conditions.
Therefore, it is worth focusing on advertising only if everything said in the advertisement is confirmed by the construction, project declaration and is spelled out in your contract. Is it worth it to trust a developer who attracts attention with such "marketing" shares, you decide.
1. Seller fraud
It is not difficult to recognize fraudulent intentions by the seller of real estate. This is evidenced by the lack of necessary documents, the provision of copies instead of the originals (or the seller’s reluctance to show them), the reluctance to provide detailed information about the house, the absence of receipts and receipts for utilities, etc.
Such moments should at least alert you. Weigh carefully the pros and cons. If the seller is in doubt, it might be better not to take the risk and refuse to buy this house.
2. A muddy property story. Incorrect previous transactions
If we are talking about a deal in the secondary market, one way or another you cannot be 100% sure that you are dealing with the first owner of the house. It may well be that the owner is hiding something or misleading you about the history of the house being sold with the land.
That is why you should check the history of all property owners who owned when and when and how property rights were transferred. The house could be sold to the current owner under a contract of sale, could be inherited, by will, as a result of an exchange agreement, gift, etc. All these documents should be carefully checked.
As a result of the audit, buyers often encounter cases where the rights to the property being sold were framed in violation. In such a situation, there is a risk of colliding with previous owners who may claim this property.
It’s not worth joking with the history of transactions. Indeed, according to Russian laws, the ownership of real estate has a long limitation period (that is, it can be revised if it is proved that someone’s rights were infringed several years ago). Even if the last owner did not reveal any violations, then the previous owners could well have them.
In order to avoid potential conflicts with the old owners and co-owners, you should study in detail the history of the house of interest to the plot. In particular:
- If there are other owners of the house - it is necessary to obtain their consent to the sale of the object (must be executed in writing),
- Obtain a spouse’s consent to sell the property (and notarize),
- Check if there were any violations during the privatization,
- To understand whether the seller is competent (does he give a report to his actions, whether there is a certificate from the dispensary, the presence of mental disorders, the absence of coercion on this part by third parties),
- Examine the authenticity of documents (only originals and, in no case, copies).
3. The discrepancy between the real price and the value specified in the contract
In real estate transactions, quite often the purchase and sale agreements do not indicate the full value of the house, but only part of it. First of all, sellers are interested in this, since such a scheme allows you to pay less taxes. If the buyer does not agree, some of them are even ready to make additional concessions and discounts.
The temptation to get an extra discount on your purchase is great. However, you should understand all the risks of such a decision. Keep in mind that the contract of sale is the main document proving not only WHAT you are buying, but also FOR HOW MUCH you are buying. If something happens (for example, the seller turns out to be a scammer or the property turns out to be of inadequate quality), you will not be able to return in court more than what is indicated in the contract.
Therefore, it is recommended that you discuss these points with the seller in advance, and compare all agreements regarding the cost and payment procedure with what is written in the contract.
4. Purchase of a house under construction through a contract of sale
The market for new buildings is generally expanse for scammers. For many years, the state has been struggling with fraudulent schemes, unscrupulous developers, trying to minimize cases of unfinished construction.
If the developer offers you to make a house purchase at the stage of excavation or the construction stage without a DDU agreement drawn up in accordance with FZ-214 and subject to mandatory state. registration - you put yourself at great risk. The fact is that a regular sales contract does not protect you from scammers in any way if they want to resell your property to someone else.
We are talking about the so-called double sale (although the house can be sold to both 3rd and 4th buyers and as many times as necessary until the whole truth comes up). This is because it is impossible to calculate the amount of real estate sold under preliminary contracts.
And the worst part is that these construction projects are carried out by construction companies that do not have the right to make transactions for the sale of this property.
Greetings from the author and founder of the site
I am glad to welcome you to my copyrighted site, "Real Estate Transactions in Russia."
My name is Slobodchikova Olga Dmitrievna. Since 2006, I have been involved in the maintenance of complex and very complex real estate transactions and am glad to share my experience and knowledge with you.
I oversaw over 1000 transactions, in 250 of which, I went all the way with the client until the registration of the property right “hand in hand”.
None of my transactions have been challenged.
In only one transaction did my client lose the deposit, only because he himself postponed the purchase for a longer period due to family circumstances. But of course I was warned about the irrevocability of the deposit, until the signing of the agreement and the transfer of money.
This site contains 335 of my articles, of which you will find answers to key questions about real estate transactions and registration of property rights in accordance with the latest changes in laws and procedures.
All my design recommendations are verified by the experience of successful transactions and are aimed at preventing errors and financial losses. Follow the "step by step".
The materials on the site comply with the requirements of Federal Law-218 “On State Registration of Real Estate” as amended on 05/01/2019.
The site has been operating since 2015.
He has already been visited by more 3 300 000 people, each of whom received the latest information on the correct execution of a real estate transaction, and almost half of the visitors returned to the site several times. This is a very high appreciation of my work.
Thank.
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The materials of these projects have been repeatedly tested on experience and can serve you as a reliable source of relevant information, as well as practical tools for self-documenting the transaction.
Be sure to go to the main page of the site - there are important articles with the latest changes.
I wish everyone a successful deal. Get proven knowledge and do not doubt your strength.
Regards, Author.
07/22/2019 year
Email: [email protected]
6. Collusion of owners
Buying a home with several owners has higher risks.
Quite often, contradictions arise between the owners, and one of them decides to sell their part of the property. Naturally, the rest of the owners are trying in every way to prevent the deal.
After that, this owner, from hopelessness, resorts to illegal actions: draws up a fake gift agreement. In this case, other owners can sue for evidence of a fake gift agreement and can easily win a lawsuit. And the buyer has problems associated with the return of the money spent.
You should also find out how many people are registered in the house. Even before the conclusion of the contract, the owner with whom you are entering into a transaction must definitely write out. After you make sure that it is deregistered, you can safely proceed to the next stages of the transaction.
You should be especially careful if children are registered in the house, and in order to buy this object you need to get the permission of the guardianship and trusteeship authorities. Otherwise, your transaction will be declared invalid by the court. Moreover, the recognition of the fact that you did not know about this will not be accepted by the court.
This is all about seller fraud. But sometimes, the owners themselves find themselves in a difficult situation. We give one simple example.
Need to sell your property as soon as possible
Most sellers themselves have no time to deal with this issue themselves and they turn for help to the first agency they come across, who will offer the lowest prices for their services.
This is a fatal mistake, because sellers forget to check neither the documents nor the reputation of the selected agency. As a result, selling a house can, at best, be delayed, and at worst, unlucky owners, realtors can also deceive, while taking a tidy sum.
How can you protect yourself from these risky situations?
- It is necessary to thoroughly study the seller’s title papers, to check: does this object correspond to the submitted documents, is the seller himself competent, etc.,
- You should ask as many questions as possible and try to take into account all the interests of both parties in the contract, and not violate them,
- You should discuss the form of payment with the seller in advance. In this case, it will be the real estate agent who knows all the details of settlements for real estate transactions that will help you,
- And last but not least, the registration of the transaction. In this, too, you can rely on a realtor, whose duties include the correct execution of the transaction.
Thus, when buying a home, many questions and even risky situations arise that are sometimes difficult and even impossible to solve on your own.
Real estate agents can help you with most of the problems. Consultation with a professional realtor will save you from risky situations. Buying a property is a serious task, and the price of an error is high. That is why it is better to approach her with all responsibility and caution.
ERROR No. 6. “WAITING FOR THE END OF CONSTRUCTION”
Not quite a mistake, because in the current situation with developers, buying an apartment in a rented house greatly reduces the risks associated with this purchase. However, excessive fears and prolonged purchase periods can lead to the fact that the apartment you like in a new building will cost 20% more, or even be sold at all. Therefore, we recommend making a purchase at the middle stage of construction (home readiness 30-70%).
ERROR No. 7. “DO IT ALL”
It is difficult to get rid of the herd feeling, especially when it comes to buying an apartment in a new building: if you buy, then everything is fine here. This is often used by unscrupulous developers, overstating the number of apartments sold in the house and creating the appearance of rush demand. You can check the real situation with sales by contacting an uninterested party, for example, a realtor.
It is also not uncommon for developers to massively begin to develop an area that has become popular with buyers. As a result, this leads to overpopulation of the district and problems with transport connections, parking and the comfort of residents in general.
ERROR No. 8. “FOGGEN PROSPECTS”
Today, quite often there are cases when a family buys an apartment in an attractive residential complex, but without their own infrastructure, believing the promises of the developer that everything will appear in the near future.
As a result, it turned out that it was not so easy to get places in the kindergarten, and the kindergarten and school promised by the developer either did not appear or were paid. Then this translates into a whole problem for the family - where to put the child, in which garden to arrange.
Often this ends up having to be transported to a neighboring area, which, of course, creates inconvenience. Therefore, it is necessary to immediately examine the issue of the availability of social infrastructure in the area - kindergartens, schools and other things, which will be important for your further residence.
ERROR No. 9. “GIVE ME TABLETS FROM GREED, YES MORE”
Очень распространенная ошибка, когда покупатель отдаёт предпочтение квартире большей площади, не вникая в удобство планировочных решений. Действительно, 70% покупателей хотят побольше метров, и только 30% знают, что не все метры одинаково полезны.
Помимо жилой площади, необходимо обращать внимание на то, как организовано зонирование пространства квартиры, важную роль играет расположение комнат в квартире и их пропорции. In a quality project, unlike standard ones, the functional purpose of each meter is always carefully thought out, and the area of the rooms is rationally distributed between the rooms, in accordance with their purpose.
ERROR No. 10. “I TRUST BUT I WILL NOT CHECK”
Today, among developers it is widespread practice to register a separate "LLC" for each house, and sometimes even for each turn or section of construction. At the same time, the residential complex itself is advertised under one well-known "brand", but different companies appear in the project declarations. This is done to avoid liability and warranty. Such LLCs, as a rule, do not have any assets, except for the authorized capital in the amount of 10'000 rubles, and, if necessary, undergo bankruptcy proceedings. Accordingly, it will be impossible to receive compensation from such an LLC for failure to meet the construction deadlines or shortcomings in the apartment.
Be careful when choosing an apartment: carefully study the developer, the project, the pace of construction to avoid mistakes. Have a nice shopping!
- Buyer Academy
