How long does it take to buy an apartment, how long does an apartment purchase and sale transaction last?

to ask a lawyer . It's free!

The question of how long it takes to buy an apartment is important. Knowing how long a particular process can last allows you to leave a margin of time for force majeure and plan multi-stage transactions.

Preparatory stage

Before you proceed directly to buying an apartment, you should take into account possible complications. They are mainly related to the problems of the seller, which quickly become problems of the buyer, interfering with the rapid conclusion of the transaction:

• The transaction involves children or incapacitated citizens. If such an apartment is being sold, then permission from the guardianship authorities is needed, since they need to be allocated the same share in the new housing. The permit is prepared in 2 to 4 weeks . In its absence, the deal will be delayed.
• The apartment was inherited from a recently deceased relative. 6 months must pass from the date of death of the testator so that there are no disputes over the property . But you need to take into account that within 10 years, relatives can file for restoration of the statute of limitations - this, naturally, will not only delay the purchase of an apartment, but may even derail it altogether.
• The seller does not have all the documents ready. For example, cadastral and technical passports take about a month to prepare.
• The seller did not legalize the redevelopment. If you try to buy a home with illegal redevelopment, Rosreestr will not allow the deal to pass. Legalization of redevelopment may take from 1 to 3 months.
• There is no written consent for the sale of other co-owners. If the housing is in common ownership without allocation of shares, the remaining owners of the premises must give written consent to the operation. The spouse must also give consent. even if she is not the owner (or the spouse, if he is not the owner of the premises).

It will also take some time to prepare a power of attorney if the buyer or seller cannot be present in person during the transaction.

Thus, in order for the purchase of an apartment to take less time, it is necessary to make sure that all formalities have been complied with on the part of the seller, the documents are ready, and the necessary permits have been obtained.

Preparation and signing of the contract

How long it will take to draw up a contract depends to a large extent on the way it is prepared. A professional lawyer can handle even a complex document in 1-2 business days.

If a simple purchase and sale of an apartment is intended (without a mortgage, encumbrances, powers of attorney, etc.), then you can independently download a sample of any agreement on the Internet and make the necessary changes.

If the agreement involves the registration of a pledge, then the participation of the pledgor will be required: he must evaluate the text of the agreement before giving consent. Therefore, the text of the contract will have to be agreed upon with a third party.

It is important to understand that a lot of time may pass from the time the contract is prepared until it is actually signed. But its text remains unchanged.

Cash purchase

The fastest way to complete a transaction is if the apartment is purchased in cash. In this case, the procedure will take literally 2-3 weeks :

• it will take a week to prepare the necessary documentation and draw up the contract;
• one day – to transfer documents and agreements to the MFC;
• another week or two to register the transfer of ownership.

If the parties have all the documents at their disposal and the purchase amount has been agreed upon, then all that remains is to sign the agreement and submit it to the MFC. Then the procedure will take literally a week. The period will also depend on the payment method. If you use a safe deposit box, the seller will receive the agreed amount only after registering ownership. That's at least one more day.

Registration of a mortgage

The term for selling an apartment with a mortgage will depend on the type of loan. Each bank has its own deadlines, depending on the program. The use of subsidies will increase the duration of the transaction, but will lead to a decrease in the cost of the loan.

Standard mortgage

Applying for a mortgage begins with submitting an application. The future buyer of an apartment must confirm that they have sufficient income and undergo preliminary scoring. The processing time for an application depends on the bank.

It usually takes from 3 to 7 days. Once approved, the borrower will have several days to find suitable housing. For example, when applying for a mortgage at Sberbank there will be 90 days left, and at VTB – 120 .

During this period, it will be necessary to collect the documents provided for by the mortgage program and submit them to the bank for consideration. At a minimum you will need:

List of documents for a mortgage in Sberbank

• title documents for the apartment;
• housing cost assessment;
• personal documents of sellers;
• extract from Rosreestr on ownership.

The first step is to order an assessment, as it usually takes 2-3 weeks to prepare. An extract from Rosreestr will only be valid for 7 days, so it should be prepared last.

The purchase period for a mortgage on the secondary market varies:

List of documents for a mortgage at VTB

• 3-4 weeks – preparation of necessary documents;
• 1 week – verification of documents by the bank and receipt of final approval;
• 1-2 days – drawing up a mortgage agreement, conducting bank settlements with the seller, signing and submitting documents to Rosreestr through the MFC;
• 5-7 days – registration of transfer of ownership.

As a result, the minimum period for obtaining a mortgage is 1 month, the maximum is 2 months.

Military mortgage

Military personnel who decide to purchase their own housing must first submit a report to the unit commander in order to be included in the program. As soon as the required amount has accumulated in your account, you can start purchasing.

If you purchase an apartment with a military mortgage, the terms will be as follows:

• searching for a suitable option may take several months;
• collecting documents and transferring them to Rosvoenipoteka - approximately 1 week;
• consideration of the application - up to 10 days in the standard version and up to 30 if a violation is detected;
• submitting documents to the bank and receiving approval – up to 10 days;
• preparation and signing of a mortgage agreement, as well as selection of an insurance program - up to 3-5 days;
• concluding a transaction with the seller (company or individual) and submitting documents for state registration – 1 day;
• transaction registration – 5-7 days.

In general, the period for purchasing an apartment under a military mortgage takes 45 days - and only if most of the documents are ready.

Mortgage with capital

If you apply for a mortgage using maternal capital, the procedure will be slightly different, and the terms will be longer.

Before submitting documents to the bank, you must receive the certificate itself along with a statement of the account balance. To do this, you need to contact the local Pension Fund office with documents for the children, SNILS of the parent and an application. The period for consideration of the application and issuance of supporting documents is about 1 month.

Then you can start applying for a mortgage with maternity capital. First, you will need to submit documents along with your application indicating your right to receive a subsidy and the balance in your account. This is necessary for the bank to make sure that there is a sufficient amount at the borrower’s disposal.

Below is the procedure and deadlines for completing each stage:

• consideration of the application by the bank and formation of an individual offer - from 3 to 7 days;
• searching for suitable housing, collecting documents and submitting them to the bank - within the validity period of the mortgage offer (up to 90-120 days);
• obtaining a notarial obligation to allocate shares to children in the future, after repaying the mortgage - from 1 day;
• signing a purchase and sale agreement with the seller and a mortgage agreement with the bank - within 1 day;
• transfer of documentation for registration – 1 day;
• waiting for completion of registration of transfer of ownership rights – 5-7 days;
• submission to the Pension Fund of the Russian Federation of an application for the disposal of maternity capital - at any time after the conclusion of a mortgage lending agreement;
• waiting for the Pension Fund to review the application and transfer the money – 2 months.

As soon as the Pension Fund transfers the money to the bank, it will count it as a down payment or the next mortgage payment and recalculate the total loan amount in accordance with the transferred amount.

Thus, the period for concluding a housing purchase and sale transaction when using maternal capital does not differ from the standard one. But you will have to wait until the Pension Fund transfers the money to the bank.

Buying a home in a new building

The terms for purchasing an apartment in a new building are the longest. The fact is that most often the contract is concluded even before construction is completed, and the buyer has to wait until the developer builds the house to completion.

The length of the wait depends on many factors, and is not always related to the work of the developer. Sometimes the deadline for handing over a house may be delayed by the selection committee, which identifies violations in construction and infrastructure.

Once the house is put into operation, the timing becomes more predictable. Thus, within the agreed time, the developer is obliged to conclude a full-fledged agreement for the purchase and sale of an apartment with the buyer instead of a DDU. Usually this is 2-3 months.

The developer provides the buyer with an apartment in accordance with the conditions described in the technical documentation. The purchaser must check the housing's compliance with the stated requirements and accept the apartment by signing the transfer and acceptance certificate.

If the DDU was concluded with the participation of the bank (i.e. the new building was purchased with a mortgage), then the terms will be delayed. Instead of a standard purchase and sale agreement, a tripartite agreement with a mortgage is concluded. It specifies the conditions for transferring housing as collateral and subsequent removal of the encumbrance. Typically, it will take 1-2 weeks to complete all documentation with the bank.

Registration of ownership

Certificate of state registration of ownership of the apartment.

In order to initiate the procedure for registering property rights, the buyer must:

• sign a purchase and sale agreement with the seller;
• collect personal documents necessary to register the transfer of ownership;
• pay a state fee of 2,000 rubles (you must keep a document confirming the fact of payment).

Next, all documents are submitted for registration. There are several options here, differing mainly in timing. :

• through the MFC - the most common method, the waiting period is from 5 to 7 days, sometimes there is a delay of up to 10-14 days;
• through the Registration Chamber directly - useful when registration of specific agreements is necessary, the deadlines here are shorter, usually 3-5 days;
• through the State Services website - registration is carried out online, without visiting the MFC or Rosreestr, period - from 10 days.

Currently, a certificate of ownership is not issued; it is replaced by an extract from Rosreestr. It can be obtained in paper form when registering a purchase at the MFC or Rosreestr, as well as in electronic form.

Thus, the final date for purchasing an apartment will depend on many factors. A simple purchase and sale will take no more than a month. If it is necessary to obtain a mortgage, then you need to add about 3-4 more weeks spent on bank verification of documents and loan approval .

If you purchase housing with the help of a subsidy, you will need time to prepare certificates and transfer funds to the bank. The registration of the contract itself does not take much time - according to the regulations, up to 14 days are allotted for this, but in reality the registering authority completes it in 5-7 days .

DO YOU HAVE ANY QUESTIONS? ASK OUR LAWYERS:

How long does it take to obtain a mortgage?

Some save money for years, some borrow from relatives and then pay them off for the rest of their lives, and there are also those who take out a mortgage. Its advantage is that the borrower receives the property immediately as soon as the bank transfers money to him or the home seller.

How long does it take to obtain a mortgage, how long does the entire process of transferring housing into someone else’s ownership take?

To attract customers, some banks assure that anyone can get a mortgage from them in just 2 days. But in practice, it is unrealistic to obtain a mortgage in such a short period of time.

And all because the entire process of receiving money from the bank takes place in several stages:

1. Submission of an application and preparation of documents for consideration by the bank of the borrower's candidacy. Approval of the application.
2. Search for housing.
3. Coordination of the property with the seller and the bank.
4. Insurance and real estate valuation.
5. Registration of purchase and sale transactions and mortgage agreements.
6. Obtaining a certificate of ownership of real estate.

To understand how long the entire process of drawing up a mortgage agreement will take the borrower, you need to consider the stages of the transaction and their duration.

Time frame for the bank to consider an application from a potential borrower

Before finding out how long it takes the bank to consider a mortgage application, the borrower must first collect a minimum package of documents and submit an application.

If a person applies for a mortgage under the general program, then he must take a certificate from his place of work about his salary. It may take 2 days to request such certificates from a company, process them and sign them, so it is unrealistic to obtain a mortgage in 2 days.

But if a person takes out a mortgage loan under an individual program, for example, “By 2 documents,” then he only needs to bring a copy of his passport and another document that identifies the borrower (international passport, SNILS, driver’s license). In this case, the borrower can prepare documents and submit an application in 1 day.

After submitting documents for consideration, the lender (bank) must check the documents, accept them and take them back for consideration as a borrower.

A decision regarding a potential borrower’s application can take from 2 to 10 days. But this period may be extended if the bank requires additional documents from the borrower or needs to check some information about him.

Typically, banks themselves are interested in making a decision on an application as soon as possible, so they consider applications no more than 3 days.

To speed up the process of making a decision on an application, a potential borrower must understand what criteria influence the speed at which the bank makes a decision on a mortgage application:

• if a person is served by the bank where he plans to take out a mortgage, then the application can be considered on the day the application is submitted. In addition, when applying for a mortgage at the bank where the client is served, he does not need to take out a salary certificate;
• if a person has previously applied for a mortgage or loan with the selected bank, and he has a positive credit history, then the bank can speed up the process of considering the application;
• If the client chooses a mortgage program that is profitable for the bank, then he will quickly receive approval for his application. For example, if he indicates that the amount of the down payment will be 50%, then the bank will quickly make a decision, since it is obvious that the person is solvent if he can pay half the cost of housing at a time.

How long does it take to find housing?

Some borrowers mistakenly think that they need to look for housing before they submit an application to the bank. But financial organizations strongly do not recommend doing this, because, firstly, not every property may meet the bank’s requirements, and secondly, not every seller is ready to work with a buyer who wants to buy an apartment with a mortgage.

And thirdly, even if an apartment is found, there is no guarantee that the bank will approve the borrower. Therefore, you need to start looking for housing after the bank approves your application.

Usually it takes a person 1 month to find a suitable property. After the borrower's candidacy is approved, the bank gives him a period of 3 months to find housing.

At this stage, banks themselves usually offer the borrower specific types of real estate, since many cooperate with developers . If a borrower plans to buy housing on the secondary real estate market, then first he must find out from the bank what requirements a particular apartment must meet in order for the bank to issue a mortgage for its purchase.

If a person cannot find a suitable apartment to buy, and deadlines are running out, then it is better to use the services of a realtor . This specialist knows exactly which apartment will suit the borrower and satisfy the bank’s requirements.

Time to coordinate the property with the seller and the bank

When looking for real estate with a mortgage, it is very important to draw the attention of sellers to the fact that the apartment will be registered under a mortgage agreement.

If you hide this fact, a situation may arise when the seller at the last minute refuses to sell the apartment to the buyer because he does not want to contact the bank.

If the seller agrees to a transaction for the purchase and sale of an apartment with a mortgage, then he must prepare for the bank the necessary package of documents for the apartment (title papers). Since the documents must be in the hands of the seller, copies can be made and transferred to the bank in half a day.

The bank employee must check the received documents for the apartment . If the apartment is “clean”, that is, it has one owner, and no minors or incapacitated persons are registered in the apartment, then the bank approves the property within 1 day.

If the apartment was purchased during marriage, and the seller did not provide the spouse’s consent to sell the apartment, or children are registered in it and consent from the guardianship authorities is needed, then the process of approving the property will drag on until all the documents are provided.

Terms of insurance and real estate valuation

If the borrower has successfully completed the previous stages of applying for a mortgage, then the turn comes to the next stage - obtaining insurance and appraising the property.

Apartment appraisal is a mandatory stage at which an independent appraiser determines whether the selected apartment is really worth the money that the seller asked for it.

The appraisal of the apartment is ordered by the borrower himself . He must select an appraiser, call him and discuss the timing of the appraisal order, and submit an application for concluding an appraisal agreement.

After collecting information, the specialist draws up an assessment report. It takes 1-2 days to complete it.

In parallel with completing the appraisal of the apartment, the borrower must enter into an insurance agreement, because insurance of the collateral or mortgaged property is a mandatory condition of any bank.

When choosing an insurance company, it is very important that it is accredited by the bank where the borrower takes out a mortgage . Therefore, you should not neglect the services of a bank that offers the client a list of insurance companies with which he can sign an agreement. It often takes the borrower no more than 2 days to draw up an insurance contract.

Concluding a purchase and sale transaction and a mortgage agreement

If the borrower has already reached an agreement with the real estate seller, ordered a home appraisal, and taken out insurance, then it’s time to go with the seller to the bank and sign 2 agreements on the spot - purchase and sale and mortgage lending. At this stage, the borrower will have to spend 1 day .

Registration of property rights

After the mortgage agreement is signed and the money is transferred to the seller of the property, the new owner must register ownership of the purchased home. To do this, he needs to submit documents to Rosreestr.

The procedure for registering property rights takes 10 days. You can submit documents to the MFC, but then the process of reviewing documents and issuing a certificate will be delayed, since the MFC acts as an intermediary between Rosreestr and the client, so in any case the documents end up in Rosreestr.

So how long does it take to buy an apartment with a mortgage, if you take the minimum terms?

If we take into account that the entire transaction procedure for the purchase and sale and registration of a mortgage apartment will go perfectly smoothly, then the calculation of the minimum period for registration of such an apartment will be as follows:

• Submission of an application and its approval by the bank – 1 day;
• search for housing and its approval by the bank – 2 weeks;
• insurance and real estate valuation – 2 days;
• registration of a purchase and sale transaction and a mortgage agreement – ​​1 day;
• registration of ownership of a new home – 3 days.

In total, it turns out that under favorable conditions, it takes at least 3 weeks to register a real estate mortgage.

How long can it take to obtain a mortgage?

The process of applying for a home mortgage can take several months . This may be due to several factors:

1. The potential borrower provided the bank with an incomplete set of documents or submitted documents whose validity has already expired.
2. The person does not inspire confidence in the bank, so the financial institution requires additional facts to certify that the person is reliable.
3. The borrower cannot find an apartment that is suitable for both him and the bank.
4. The borrower has been looking for a long time for an insurance company for whose services he would not overpay.

Clearly answer the question: “How long does it take to get a mortgage?” impossible. Some people can complete a deal in 3 weeks, while others will have to process it for several months.

But if the borrower has a positive credit history, he will not raise doubts in the bank, finds a good seller and a “clean” apartment, correctly submits all the necessary documents, then he will be able to get a mortgage in 3 weeks.

It is not possible to complete a transaction to purchase a mortgaged apartment in a shorter period.

How long does it take to buy and sell an apartment?

Aaron Amat/Fotolia

Sergey Ilyasaev, General Director of Rezidential Group, answers:

If a client purchases an apartment from a developer, he can enter into an equity participation agreement (DPA) on the same day that he chose future housing. You can also book an apartment for a period from three days to one month.

After signing the DDU, actual registration with Rosreestr must take place within five working days. In addition, the developer can collect the share participation agreements of other clients for about two more weeks and then simultaneously submit them for registration.

After the contract is registered, you need to pay the full cost of the apartment or part of it within five working days by transferring funds through the bank. If housing is purchased with a mortgage, then before concluding the DDU, you should draw up a mortgage agreement, which is not subject to registration, but is included in the general package of documents. Its conclusion usually takes about a week.

In addition, to purchase an apartment, you need documents confirming your spouse’s consent to a real estate transaction or a certificate stating that you are not married, as well as a notarized power of attorney. It will take one or two days to process them.

It will take about two weeks to obtain approval from the bank (if the apartment is purchased with a mortgage), notarized documents, as well as the conclusion of a loan agreement and DDU. Then you can leave for one or two weeks and return to receive the DDU from Rosreestr.

And payment or the first installment on a mortgage loan can be made by interbank transfer from your city. So the “net” time of presence will be about 16 days.

How is money transferred when buying an apartment?

How to check an apartment for cleanliness of documents before purchasing?

Leading legal consultant of the company “My Family Lawyer” Daria Kashleva answers:

Conducting a real estate purchase and sale transaction usually does not take much time if you prepare for it in advance. Then, upon arriving at the place of the transaction, you will spend from 30 minutes to an hour.

Preliminary preparation for a purchase and sale transaction includes the following actions:

1. Checking the legal purity of the transaction. This means that you must first request from the other party all documents related to the object (grounds for acquiring the object, a certificate of ownership of the object or an extract from the Unified State Register, TBTI documents, an extract from the house register, etc.). This can be done remotely by requesting scans or photos of such documents. During the transaction itself, you will only need to check the presence of the originals and their compliance with the previously sent files.
2. Preparation of the real estate purchase and sale agreement itself, that is, drawing up the text and necessary appendices to such an agreement, agreeing on essential terms with the other party. Also, take care in advance about who prints out the agreement and its annexes (pay attention to the fact that one copy of the documents must remain with each party and one copy must be transferred to the registration authority).
3. Choosing the place and time of the transaction. If you are limited in time, then you can sign all the documents and meet with the other party immediately at the Rosreestr branch or at the MFC to submit all documents for state registration. If you have a transaction with shares in a real estate property that requires mandatory notarization, make an appointment with a pre-selected notary, sending him the documents you have prepared for approval. Then take everything to the registration authority or MFC, which are located nearby. After state registration, you can receive documents within several months during the office hours of the relevant organization (MFC or Rosreestr).

How to find time to buy an apartment and complete the deal?

When is it better and more profitable to buy an apartment?

Partner of the East-West PR agency Alexander Tkachenko answers:

The purchase and sale of an apartment or private house takes from one week to two to three months. It all depends on what documents are available, what encumbrances are placed on this very property.

Also a separate issue is the registration of citizens in this house. It often happens that unknown people are registered in the house, whom the grandmother of the previous owner registered out of deep gratitude.

Then the collection of information begins. You need to see a certificate stating that no one lives in the house, and a certificate confirming the absence of debts. If the seller has a spouse, then his (her) consent to the sale is also necessary. The issue of registration certificates and illegal construction is also very relevant.

Before my eyes, they demolished the veranda because they could not sell the house. There may be issues with remodeling the apartment. In general, the entire list of documents indicating payments is issued by the notary’s assistant or the notary himself.

And the skill in collecting documents depends on the individual or on the desire of the bureaucrats to do their job.

In any case, there is no universal answer to your question. It all depends on the state of the documents and debts. If the seller is in complete order with his documents, has all the necessary certificates, a fresh registration certificate, and has no debts, then the procedure itself takes one business day. Moreover, out of eight working hours, the procedure itself takes about an hour.

Yulia Simanovskaya, Director of the Department of Legal Support of Transactions at TEKTA GROUP, answers:

The procedure for buying and selling an apartment consists of several stages (search for an object, preparation, signing an agreement, payments, registration of the transfer of ownership from the seller to the buyer and others), each of which requires a certain amount of time. The duration of each given cycle depends on each specific situation.

So, just searching for an apartment can take quite a long time. Preparation of the necessary documents (consent of the guardianship authorities, production of cadastral and technical passports, notarial consent of the spouse and/or powers of attorney) takes from seven to 14 days, and registration of documents in Rosreestr can take from five to 12 working days.

If the seller or buyer cannot personally attend the signing and submission of documents to the Registration Chamber, you can issue a notarized power of attorney to a person who is trusted by the seller or you. By the way, all of the above stages of buying a home can be entrusted to a trusted person and not come at all. But all powers must be specified in detail in the power of attorney.

The minimum period in which you can view the selected apartment (with documents prepared in advance), sign the contract and make a deposit, and then submit the documents for registration is one day.

You can also ask the seller to send the necessary documents electronically by mail in order to review them first. And theoretically, in just five days it is possible to receive ready-made documents from the Registration Chamber.

But it is better, of course, to focus on longer periods.

• Text prepared by Maria Gureeva
• Do not miss:
• All materials in the “Good Question” section
• Is there an installment plan between individuals?
• Everything you need to do before buying an apartment under DDU
• 5 types of fraud when selling secondary apartments

The articles do not constitute legal advice. Any recommendations are the private opinion of the authors and invited experts.

[email protected]: How long does it take to complete a transaction for the purchase and sale of an apartment?

It all depends on the state of the documents and how the Federal Registration Service works in your region.

Option No. 1 (idealistic) if ALL your documents are in order (there is a proof of ownership document, a title document, a registration certificate no older than 5 years, no one is registered in the apartment and there are no minors among the owners), if you know what documents need to be submitted to the registry office and have collected they are all, if in your region you can submit documents to the registry office immediately (with us you first receive a coupon, and hand it over in a week, if there are no bribes), then the procedure will take 21 days.
(this is exactly the period allotted for completing the state registration of the transfer of rights to real estate) Option No. 2 (pessimistic) is partially set out by “Zoe”, but we can also add that the BTI can issue a technical passport for a month, and the guardianship authorities can issue their permission for at least six months.
Plus, in the registry office itself, the following scenario may well take place: you arrive at 5 am, take a turn, go up to get a ticket, a specialist looks at your documents and says “there is no such and such, the contract lacks such and such information, etc.” "You correct all this, the procedure is repeated, you receive a coupon, a week later you use this coupon to go directly to the registrar and he finds some flaws in your documents and you begin to repeat the whole procedure from the very beginning. This may drag on for another two weeks to a month. Typically, the timing lies somewhere between these boundaries. Significantly speeds up the process: if you are not confident in your knowledge and capabilities to independently conclude a deal and/or you need to urgently conclude it “at any cost”, contact a law firm; ALL delays in the Registration Chamber are resolved through bribes, but if you don’t have a “way out” to the right people, then you won’t even be able to give a bribe; again, you’ll have to resort to the help of intermediaries.

I just recently sold my apartment. But there were a lot of problems and a small cart. Firstly, it took 3 months to get a cadastral number for a land plot. Secondly, BTI worked on the apartment passport for about 2 weeks. The stupid New Year and Christmas holidays ate up another 2 weeks.

The apartment was privatized for me and my daughter (under 14 years old). The permission from the board of trustees still took 1 month. Moreover, the child, at the time of permission, must be provided with ownership of living space of at least sq. m. meters. And this is at least a month to obtain a certificate of ownership.

So count how quickly everything is done here in Russia (without the help of a special agency).

According to Federal Law-122, thirty days. But also take into account the period until you put the documents in order and take the extracts...

in Moscow a month in other cities (not Moscow Region) from 3 days

If you are planning to move to Krasnodar, immediately contact the Resettlement Service of the Krasnodar Territory, the service helps resolve the following issues:
HOW TO SAFELY PURCHASE HOUSING IN ACCORDANCE WITH LEGISLATION?
HOW TO AVOID THE RISKS ASSOCIATED WITH MOVING TO ANOTHER REGION?
WHERE TO GET RELIABLE AND OBJECTIVE INFORMATION ABOUT PRICES FOR REAL ESTATE, CONSTRUCTION AND REPAIR?
WHO WILL HELP YOU ORIGINATE IN A NEW PLACE AND TALK WITHOUT BJUDGES ABOUT CITY INFRASTRUCTURE, JOBS, TRANSPORT ACCESSIBILITY, ADVANTAGES AND DISADVANTAGES OF CITY AREAS?
WHAT DEVELOPER IS RELIABLE?
SRKK helps to solve these and many other questions free of charge, without real estate agents. This is your first resort. Details can be found by calling: +7 928 210 37 31 or (861) 290 37 31

It takes three months to collect all the documents. And registration is one day

Now you will know how long it takes to buy an apartment with a mortgage and when the keys are handed over

Since 1998, the Russian Federation has had a law “On Mortgage (Pledge of Real Estate)”, which allows citizens to obtain real estate on credit - instantly solve their housing problems by paying the cost of the housing received over several years. For financial organizations, a mortgage is considered a risky undertaking - the borrower is given a large amount, and the payment terms are significant.

Banks are doing everything they can to play it safe. How long does it take to purchase and sell a home under a mortgage loan and when are the keys handed over to the borrower? Answers below

To solve your problem RIGHT NOW get a free LEGAL consultation: +7 (499) 504-88-91 Moscow

How long does the procedure take and what stages does it consist of?

The process of obtaining a mortgage includes several stages , they follow each other and are mandatory. Many borrowers believe that once the loan application is approved, the deal is in the bag and they can celebrate receiving a mortgage.

However, an equally important moment lies ahead - the approval of real estate for which the financial institution will issue money. And also conducting an assessment, concluding an insurance contract. A Russian who decides to take out a mortgage will be able to breathe out only after registering with Rosreestr.

Preparation of documents for a loan

Each bank has different requirements for borrowers:

1. some offer loans only upon presentation of income certificate;
2. for others, credit history is critical;
3. still others implement higher or lower interest rates for borrowers with different income levels and levels of reliability.

On average, it takes one week to prepare documents. The package of documents required at the first stage consists of mandatory papers, certificates provided upon availability and those that are submitted at will.

Required documents:

• Completed loan application form.
• Russian citizen passport.
• A certified copy of the work record.
• Certificate of income (2-NDFL, tax return, extract from salary account).
• Certificate of state pension insurance.

Additionally provided:

1. Marriage certificate;
2. military ID;
3. marriage contract;
4. driver's license;
5. children's birth certificate - if available.

Important! The third group of documents includes certificates that the bank may request for additional verification of solvency, for example, certificates of real estate ownership, bank account statements.

Consideration of the application

It can last from two working days to a week. First, the bank considers the borrower’s candidacy to see if it meets the requirements. During a meeting with a potential borrower, the bank agent takes copies of his documents and provides a questionnaire to fill out. The loan application is approved and sent for consideration.

If there are no questions about the borrower’s candidacy, the bank agrees with him on the selected property. Sometimes the procedure takes up to two weeks.

Conducting an independent real estate assessment

The date of the assessment depends on the borrower ; if he has already negotiated with the homeowner, the appraiser can arrive within three days after the loan application is approved. A financial organization needs an appraisal to know how much the property being purchased actually costs - it will become collateral.

The borrower is required to be present at the appointed time to allow the appraiser into the apartment or to negotiate this with the owner. Large companies prepare an assessment report within three days to a week. You can order an accelerated option (from one to two business days), but it will cost the borrower much more.

Review of submitted papers

The main package of documents can be collected in one day if there is a preliminary agreement with the seller. The longest wait may be for a certificate from the guardianship and trusteeship authorities. The maximum period reaches 30 days, but parents rarely wait that long. The verdict can be given in 5-10 days.

If the applicant agrees with the proposed amount, the bank will require documents for the selected property to verify the legal purity of the apartment. The fact is that the financial institution risks no less than the borrower; if it turns out that the property has a legal owner, it may lose both the loan funds and the collateral itself.

The obligatory papers for the lender are the following:

• Legal documents.
• Technical documentation.
• Photocopies of all real estate passports.
• Extract from the house register.

Often additional documents are added to these documents. If the seller is married, the notarized consent of his spouse will be required. All capable adults registered in the apartment must provide statements of knowledge that their apartment will be sold.

Minor apartment owners can participate in the transaction only after receiving consent from the guardianship and trusteeship authorities. The procedure itself is by no means formal - if the government, represented by an authority, finds out that as a result of the sale of the apartment, the child’s living conditions will worsen, then no one will give permission.

Borrower's life and health insurance

Insurance is mandatory, even if it is indicated in the loan agreement as a recommended option - in fact, without it, the borrower will not be able to obtain a loan or apply for it at a previously agreed interest rate. The price of the policy varies depending on the loan amount, the age of the recipient of the money and the region of his residence, but, as a rule, does not exceed 50 thousand rubles.

Reference! Sometimes representatives of the insurance company are located in the bank’s office; it takes no more than 1 hour to fill out and sign the document, and the policy begins to take effect immediately.

Registration of the transaction in Rosreestr

First, the borrower and the real estate seller collect documentation for Rosreestr :

• passports;
• contract of sale;
• applications for permission to sell from a spouse or guardianship authorities.

The application is reviewed within seven working days by Rosreestr itself, or within nine working days if documents were submitted through the MFC.

Time frame for purchasing housing for military personnel

A military mortgage is also issued in several stages:

1. First, those wishing to participate in the program submit and sign a corresponding report from the unit commander.
2. The document is registered at the Military Mortgage Center, after which the potential borrower receives a certificate of right to purchase housing under a military mortgage; the entire process takes no more than 30 days.
3. The validity of this certificate is limited to 6 months, during which time the Russian must find an apartment and choose a credit institution. The period for consideration of the application does not exceed 5 working days.
4. After approval, a loan agreement is concluded, as well as an agreement between Rosvoenipoteka and the military personnel.
5. Before registering ownership, the parties sign a purchase and sale agreement for the property and fill out a mortgage; now you can submit documents to Rosreestr and, after a week of waiting, receive the keys.

When are the keys handed over?

The keys must be transferred at the time of signing the transfer deed ; this norm is enshrined in Article 556 of the Civil Code of the Russian Federation. Here the buyer and seller have two options for what to do, however, they are not very different from each other. We'll tell you about each one.

1. The law allows it to include a clause in the purchase and sale agreement indicating that this document is also a deed of transfer. In this case, the former owner of the apartment will give you the keys immediately after receiving the money from the bank. And the seller will be able to receive the money when the buyer becomes the full owner of the apartment from Rosreestr.
2. Sign a separate deed of transfer. To avoid delays, it is advisable to start preparing it a few days before the expected receipt of the certificate from Rosreestr. Otherwise, the procedure is identical to point No. 1. The signing of the transfer deed takes place at the bank, where the buyer comes with a certificate issued by Rosreestr, the seller receives the money and issues the keys.

Attention! Any personal agreements, if they involve the transfer of keys in advance, must be agreed upon with the bank, since it is a full party to the transaction.

As you can see, buying an apartment with a mortgage consists of several stages. First of all, the financial institution must approve the applicant himself; here the main attention is paid to the solvency and reliability of the potential borrower.

The property is then inspected to ensure there is no third party ownership. After concluding a loan agreement, the bank does not transfer the money to the seller - but puts it in a safe deposit box (or uses another convenient method).

The closing of the transaction occurs only after registration of the new property right in Rosreestr. On average, 1-2 months pass from the moment of submitting the loan agreement to receiving the keys.

If you find an error, please select a piece of text and press Ctrl+Enter.

To solve your problem RIGHT NOW get a free LEGAL consultation: +7 (499) 504-88-91 Moscow

How long does it take to register an apartment purchase and sale agreement: terms and procedure for registration

Any real estate transaction is a complex, multifaceted process that requires time, money and a considerable amount of nerves. What do you need to know when selling an apartment, what expenses will the seller bear, is it necessary and how long does it take to register an apartment purchase and sale agreement?

One of the main points in concluding such a relationship is registering ownership rights for the new owner. Before this you need:

• stipulate between the parties all the nuances of the upcoming transaction;
• draw up a contractual agreement;
• sign the prepared agreement;
• transfer and accept the agreed amount.

Procedure for registering an apartment purchase and sale agreement

To begin with, one of the parties to the transaction must personally appear at the local Rosreestr office at the place of registration and write an application for registration of the executed agreement. To speed up the application process, you can make an appointment online in advance.

The second option for submitting an application is to send by mail all the necessary documents.

The latest innovation of Rosreestr is a courier visiting your home. This service will primarily help persons with disabilities who do not wish to use the services of trusted persons.

The best option is to use the services of a notary. Before certifying a transaction, the notary checks the presence of:

• tax burdens,
• arrests,
• mortgages on the alienated apartment.

In a separate clause of such an agreement, after verification by a notary, it is indicated that this apartment is not under collateral, is not an object of alienation, is not under arrest, etc. This will help the buyer defend his rights if, after the transaction is concluded, new owners of this apartment suddenly appear, about whom the buyer did not know.

The entire procedure of purchasing or selling real estate is complex and risky. After all, very often the joyful excitement of a new purchased item dulls people’s sense of caution and intuition. And in this case, losing them is especially dangerous.

How long does it take to register an apartment purchase and sale agreement?

Maximum - ten days, provided that the entire package of documents is prepared correctly.

Rosreestr requires the following documents:

• statement with signatures of the parties to the transaction;
• a receipt confirming payment of the state duty;
• contractual purchase and sale agreement signed by its parties (in 3 copies);
• a document confirming the ownership of the seller’s real estate;
• technical certificate;
• documentary evidence of the absence of debt on utility bills;
• an extract from the house register, which lists the residents registered in it;
• copies of passports of the entities mentioned in the agreement;
• if among the owners there are minors or incapacitated persons, additional permission from the guardianship and trusteeship authorities will be required.

If we are talking about purchasing a new building, the following documents are submitted:

Spouse's consent to purchase and sale of housing

If both spouses are the rightful owners of the apartment, this must be stated in the purchase and sale agreement. But more often a situation arises when property rights belong to one person. In such a case, lawyers should take into account the circumstances under which such property was acquired:

• before marriage;
• under a gift agreement;
• in order of inheritance.

If the transaction was carried out without the knowledge of the second spouse, then he can at any time have it declared invalid.

Is it possible to speed up the process?

The legislation provides for a number of cases when it is possible to reduce the time frame for registering rights to real estate to five days. Among these points:

• registration of inherited property;
• registration of residential real estate from the developer;
• transfer of ownership to the mortgagee;
• registration of ownership after payment of the mortgage.

That is, the term of the apartment purchase and sale agreement, or rather the time for its registration in Rosreestr, can be significantly reduced. The given list of categories can be adjusted by Rosreestr authorities by region.

If you need to re-receive a certificate of registration of property rights, it is enough to write an application to the Rosreestr authority, having paid the amount of state duty pre-determined by law.

If for some reason the seller refuses to participate in the registration process, you can go to court. In this case, registration of ownership will take place by court decision.