The savings when buying an apartment on credit is directly proportional to the risk, which you yourself will decide to go, drawing up a deal. The less risk, the less savings will be.
There are two stages of reducing the total amount that will have to be given for the apartment:
At the preparatory stage – to find a bank that offers the lowest interest on a loan, to draw up a deal from a notary public, taking less for its services than competitors, find an appraiser and insurer with low prices. The easiest way is to just get a discount from the seller.
At the stage of paperwork-when signing a contract of sale of real estate by a notary, conclusion of an agreement on the issuance of an advance payment in cash, payment of taxes at the conclusion of a transaction. The above methods provide saving up to 1.7% of the cost of the apartment!
It is about the additional savings that you can manage yourself, and will be a speech here. Consider some subtleties when buying an apartment on credit.
Registration of a contract of sale of real estate
In the notary office, where you will contact, the assistant notary will offer his services for an additional fee in assisting the preparation of the contract. If you want to save, turn on all your mental abilities, find a typical contract on the Internet, and independently make your edits here, given the wishes of the seller. Then provide the notary’s office with your version of the contract, and it is better to send it by e -mail, since the notary assistant may have to correct the hat and ending of the contract in accordance with the legislation. If the office does not appreciate your initiative for any reason-feel free to contact its competitors. Often documents prepared independently are not inferior to papers executed by specialists. So, the first savings already exist.
Conclusion of an advance payment agreement in cash
The conclusion of such an agreement you will oblige you exclusively. If you lay out the situation on your fingers, it turns out: you and the seller conclude an agreement, transmit an advance, and a week later the seller says that you have found another buyer, and the deposit does not return to you. You go to court, and you are even lucky, and after six months with the help of a bailiff you return your money. But the nerves are shattered, the time is lost, the cost of the apartment has increased significantly. Whether you want to start all over again? To securely, contact a solid realtor office with a request to conclude an agreement with the seller on the sale of an apartment only through it. Of course, you will have to pay a real estate company for the services provided. But it is better to pay money and, as they say, “sleep calmly”.
If you want to do without intermediaries, then you can assess real estate to bring the seller to the bank, which will confirm your intentions with a warranty letter in a short time. Further, communicating with the seller, so that he could not admit about another buyer, having fed, you will arrange everything in one week. But, if the seller, all the same will run away, you will lose the money that you paid for the assessment of the apartment. Therefore, the best way to convince the seller to pay for the assessment of the apartment. Your risk at the same time boils down to zero, but you will have to apply all your eloquence and provide “iron” arguments.
Payment of taxes, when concluding a transaction
There is, of course, a method for extremes, in which the cost of the sale of the apartment in the amount of the cadastral, and not the market price, is indicated in the contract of sale. Theoretically, this is possible, since the bank works only with the act of real estate assessment. If the cadastral value of the apartment is approximately 15 % of the market value, then the purchase at this price will be savings when paying a state fee of 1.7 % of the cost of real estate. That is, the state pays 15% of 2% of the market value of the apartment.
In practice, this scheme works if the collateral is not the purchased apartment, and all the calculations are kept in cash.
Since this is clearly not our option, you will have to develop your own version of the transaction, with all the ensuing consequences. As a hint, one of the areas may be a “client participation”, which sometimes stipulates banks by advertising the acquisition of real estate on credit. This “participation” is not always mandatory.
Subtleties of design
Follow simple rules when drawing up various agreements and agreements:
Avoid long and difficult to perceive sentences. If something is not clear to you, do not hesitate to ask, clarify, if something does not suit you in the text-ask to replace, fix or remove.
Check the inscribed names, addresses, numbers, series. Check the specified Sumy.
Consider the work schedule of state institutions and firms. Compare the terms inscribed in the contract or agreement, so that everything will be in time.
If you do not depend on you the possibility of a point, complement this item with your conditions.
Make all documents and fill out in the state language.