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The main risks when buying a secondary property

Almost every person eventually faces the need to buy their own home, but there is no need to rush into this matter. Purchasing an apartment involves some risks that should be taken into account when making a deal. A large proportion of transactions for the acquisition of real estate falls on secondary housing. "Resale" attracts potential buyers due to the low price of objects, ready-made infrastructure and the ability to move in almost immediately.

But even here you need to be careful not to fall into the hands of scammers.

Let’s consider possible examples of fraud related to the acquisition of square meters of secondary housing.

Fake Documents

Scammers often take advantage of the gullibility of single people addicted to alcohol or drugs by fraudulently obtaining their property. Documents are quickly reissued to a front person, sometimes not one, but the former owners are left on the street or discharged into some wilderness. The price of such housing is usually underestimated.

The new owners are faced with the fact that the documents turn out to be fake, and the old owners will seek the restoration of ownership through the courts.

You need to be careful https://hata.ug/43-chalets-for-sale about selling housing by proxy. The document may turn out to be fake, with the expiration of its validity. The sale and purchase agreement enters into force only after its registration with Rosreestr. If the seller cancels the power of attorney before this stage, such a transaction becomes invalid.

One of the fraudulent sale schemes is the sale by proxy when the real owner is long dead.

The presence of unaccounted for heirs

Before you buy an apartment, you need to carefully check how the old owners got the housing. Perhaps it was inherited. It is necessary to find out if there are other relatives applying for housing for sale.

Violation of the inheritance rights of unrecorded relatives will result in the cancellation of the transaction.

Problems with privatization

Most of the secondary market apartments are privatized. All members of the family registered in it participated in the privatization of real estate. The contract may be declared illegal if one of the family members did not participate in the privatization (was in prison, was declared missing).

Unexpectedly appeared relative will claim his rights to housing, and you will lose your money.

No consent to sell

All the owners of the apartment, recorded in the documents, must agree to the execution of the contract of sale. The approval of the guardianship or guardianship authorities is mandatory if the owner is a minor. In the event of a divorce, consent to the sale must be obtained from both spouses if the property was purchased during marriage.

A purchase can be considered illegal if it suddenly turns out that one of the owners is against the sale and claims ownership.

Debtors

There are cases when, after acquiring a secondary property, it turns out that the previous owner owes a large amount for the overhaul of the house. Such debt will pass to https://hata.ug/43-chalets-for-sale the new owners. When making a deal, you need to find out this moment.

By the way, existing debts for a communal apartment are not transferred to new owners.

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