How To Complete A Purchase Transaction

Table of contents:

How To Complete A Purchase Transaction
How To Complete A Purchase Transaction

Video: How To Complete A Purchase Transaction

Video: How To Complete A Purchase Transaction
Video: ITEX Training Video How to do a Purchase Transaction 2024, December
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When making a purchase and sale transaction, it is necessary to take into account many points. An incorrectly completed transaction is recognized as legally invalid and the purchased property can be lost. When buying, check all the documents, both the seller himself and the documents for the property for sale. The purchase and sale agreement itself must be drawn up in a notary office and must be drawn up by a practicing notary.

How to complete a purchase transaction
How to complete a purchase transaction

Necessary

  • - passports of all participants in the transaction
  • - title documents for the purchase
  • -contract of sale
  • -notarial permission of all owners for sale
  • -cadastral passport if you buy a house with land
  • -recepts of payment of the state duty for registration

Instructions

Step 1

When registering a transaction, you must have documents, the list of which does not allow you to avoid risks and the safety of the purchase. Therefore, ask the seller to prepare additional documents certifying the purity and safety of the purchased purchase. This is a huge list of documents that are not involved when registering a transaction and when drawing up a purchase and sale agreement, but they guarantee the purity and safety of the transaction. The seller must provide you with:

Certificate of absence of arrest, restrictions and prohibitions on the property being sold.

Extract from the Unified State Register.

Certificate of payment of all property fees.

Certificate of absence of all debts.

Certificate of who owns the property.

A certificate stating that all registered residents have been discharged.

Refusal of co-owners and co-owners from the right of pre-emption.

Information about any encumbrances or restrictions on the use of this property.

A certificate confirming that there are no boundary disputes for the property.

Step 2

After checking all the personal documents of the real estate seller, all documents on the real estate can go to a notary to conclude a purchase and sale agreement. When it is concluded, certain rules are also followed. An incorrectly drawn up and concluded contract is invalid.

Step 3

The following information must be specified in the contract:

Date and place of his detention.

All information about the participants in the transaction. Full and accurate details of the participants.

All information about the subject for which the contract was concluded is indicated.

The date of the contract is written. The period of validity of this agreement is indicated.

The amount and procedure for settlements for the purchase.

Responsibility of the parties.

Step 4

A professional notary knows how to perfectly draw up sales and purchase agreements, but nevertheless, the specified data must be carefully read and checked for accuracy. It is better to indicate the price for a purchase real, and not understated and not based on an inventory estimate of this purchase.

Step 5

After the conclusion of the sale and purchase agreement, your rights to purchase must be registered with the state registration center. Only then will you become a full owner.

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