The agreement to purchase housing on the secondary market.

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

Most often we buy an apartment from someone who used it before. When buying on the secondary market we are in fact dealing with two contracts. The first is the preliminary agreement, which obliges us to buy the apartment, and the landlord to sell at a certain price.

fusion-of-horizons / photo on flickr

fusion-of-horizons / photo on flickr

They can be signed when you finance the purchase with a loan and do not yet have the money to buy. The procedure itself takes a while to settle the loan, and the outcome is uncertain, hence the need for signing such an agreement. The second agreement is the right of transferring ownership of the apartment, which, as the name suggests, the right to property is transferred to the buyer and generalizing allows us to enter and reside in the new home, which we become owners.

Proper sales and purchase agreement always takes the form of a notarial deed, which will draw a little taste, so try to be aware of the additional costs that will have to pay at this stage. The preliminary agreement is not required. If we buy and pay right away, for obvious reasons it is not necessary to determine the amount of advance payment or deposit, or a kind of “up” apartment. In such cases, you can immediately switch the transaction and sign the contract of sale.


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