Agreement when buying an apartment from the developer.

Posted: September 10th, 2013 | Author: | Money

Buying real estate in the primary market requires the signature of a much larger number of contracts than usual. This is because, in addition to the same documents for the purchase of housing, we need to legally regulate other issues involving the purchase of an apartment just as the developer, which has already been dealt with long ago.

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Thomas Hawk / photo on flickr

Thomas Hawk / photo on flickr

The first thing you should do is to sign a reservation contract. As the name implies, it concerns the stage when the investment is at a very early stage, as our decision-making process. It allows you to freeze a fixed price per square meter, elected local and related issues. Please note that the reservation contract is not governed by any law. It is created by developers for their own needs, and it is one from which slowly goes away. Therefore, if necessary signing the contract, make sure that it is well constructed, because of the lack of legal regulations The second type of contract, which will meet at the developer agreement. It also does not adjust specific provisions, but it is understood that the provisions of the Act apply to the ownership of the premises.

Developer Agreement applies in particular to the fact that the developer agrees to construct the building, separating separate premises and transfer of ownership to the buyer. It is often confused with the preliminary agreement. The development agreement should contain primarily investment deadlines, receiving housing, conclude all necessary agreements and similar issues. The last step is the signing of the relevant agreement for the purchase of real estate.  That distinguishes our premises as a separate property, and in fact is the most important of all. After signing will have on the verge of moving into a new apartment.

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