What are the main steps in the process of buying and selling real estate?
The process of buying and selling real estate usually consists of several main stages. This applies to both the seller and the buyer.
- First of all, you need to study the real estate market. Namely, you need to familiarize yourself with the situation that is currently observed in the real estate market (quantity and quality of offers, prices and current trends).
- After familiarizing yourself with the situation in the real estate market, you need to assess your own capabilities and make a decision to buy or sell an apartment.
- At the third stage, more practical work begins – the search for a suitable option (search for an apartment to buy, or search for a buyer for sale).
- This is followed by making/receiving advance payment for the apartment (the selected option is fixed at the time of preparation of documents).
- Further, the preparation of the documents necessary for the execution of the transaction (including the draft agreement for the purchase and sale of an apartment) takes place, and their verification by the Buyer.
- At the sixth stage, the preparation of mutual settlements for the transaction is underway (the method, conditions and procedure for transferring money are discussed).
- The signing of the contract of purchase and sale of the apartment.
- Registration of the transfer of rights under the contract and new ownership of the apartment.
- Completion of mutual settlements (the Seller gets access to the Buyer’s money).
- The final stage is the handover of the keys and the signing of the Acceptance Certificate of the apartment.