How To Draw Up A Contract Of Purchase And Sale Of An Apartment

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How To Draw Up A Contract Of Purchase And Sale Of An Apartment
How To Draw Up A Contract Of Purchase And Sale Of An Apartment

Video: How To Draw Up A Contract Of Purchase And Sale Of An Apartment

Video: How to Draft a Contract in 3 Easy Steps 2022, December
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Selling an apartment, you need to be very serious about the execution of the contract. Incorrect or illiterate drawing up of it can turn into problems in the future for both the seller and the new owner.

Buying an apartment correctly
Buying an apartment correctly

In what form is the sales contract drawn up?

According to the legislation of the Russian Federation, the sale and purchase agreement is concluded both in simple written form and is certified by a notary. If the parties nevertheless decide to contact a notary, it should be remembered that he already has ready-made contract forms. However, this does not mean at all that the parties should not insist on the presence of separate, favorable conditions for themselves in the agreement.

The main conditions of the contract for the purchase and sale of an apartment

In the preamble to the treaty, i.e. in its title part, the place and date of his imprisonment, as well as full information about the parties, are indicated. If the spouses are the owners of the apartment, then they both act as sellers.

The next block of the treaty is devoted to its subject. It should provide a complete description of the apartment with an indication of its exact address, total and living space, as well as technical condition. Here are also the details of the documents (contract, certificate of the right to inheritance, etc.), confirming the ownership of the apartment to the seller. The approximate wording of the conditions regarding the subject of the apartment sale and purchase agreement may sound like this:

“The Seller sells and the Buyer buys an apartment located on the ____ floor of a building at _________________,. The total area of ​​the apartment is _____ sq.m., living area is ______ sq.m. At the time of sale, the apartment is in good condition. "The seller's ownership of the apartment is confirmed by the following documents ____________".

Further, it is necessary to include a clause in the contract stating that at the time of its conclusion, the apartment was not sold (donated) to anyone, not mortgaged or arrested, and there are no rights and claims to it from third parties.

The next prerequisite for the contract is the price of the apartment and the method of payment for it. The cost of the apartment should be expressed in lump sum. The payment for the sold apartment can be paid at the time of the conclusion of the contract. However, in order to avoid possible risks for the buyer, it is recommended to stipulate in the contract the condition that the cost of the apartment will be paid after the state registration of ownership of it. The condition for the price of an apartment can be written as follows:

“The cost of the apartment is __________. It is paid to the seller after the buyer's state registration of ownership of the apartment in his own name."

Also, the sale and purchase agreement must list the persons who retain the right to use the apartment after its sale (Article 558 of the Civil Code of the Russian Federation).

In addition, the contract must stipulate provisions regarding the moment of transfer of ownership of the apartment. According to the legislation of the Russian Federation, the moment when the ownership of an apartment arises is tied to its state registration, carried out by the bodies of the Federal Registration Service.

It will also be useful to have a clause stating that at the time of signing the contract, the parties are endowed with full legal capacity and legal capacity, clearly understand the terms of the contract and are familiar with the legal norms in terms of the transaction.

The seller must transfer the apartment on the basis of an acceptance certificate or other similar document (Article 556 of the Civil Code of the Russian Federation), which is also indicated in the contract. Well, like any contract, it must be signed by all parties.

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