First, check whom the land belongs, of course, if it what is at stake is a new apartment from a contractor, check whether the contractor’s rights in the land. However, you must check whether the land has been mortgaged to banks or other creditors. In the case of buying a new apartment from a contractor, the apartment and the building must be planned in accordance with the specifications (in case of purchase “on paper”), and its surroundings according to local zoning plans. Regarding second hand apartments, one must note changes in the construction and possibly even check the building permit with the local governmental authority. The agreements tax provisions must be clear and accurate regarding who pays what, whether money is to be held in trust and more. However, the key delivery date is the most important date for the purchaser of the apartment and therefore it is necessary to ensure that the contractor/seller will be able to meet their obligations. With new apartments, it is necessary to check on the registration of the apartment in the Real Property Registry – parceling.
What is important to include in an agreement for the purchase of an apartment? Posted on November 3, 2014