Remote purchase of an apartment: how does it happen and what is needed for it?

Buying an apartment in another city: how to choose the right option?

The resort capital's real estate market is saturated with offers for every taste and budget. First of all, we recommend deciding on the purpose of the purchase and starting the search, based on this very goal. For example, if you want to come to Sochi on vacation, then consider apartments located in a coastal cluster or in cozy resort areas. Are you considering the purchase as a promising investment? Pay attention to the residential complexes and apartments under construction that can be rented out at a very competitive price!

The beginning of the way

At the very beginning of the journey of buying real estate, you need to decide on the price that people are willing to pay to buy an apartment. In some cases, there is enough cash to make your dream come true. If this is so, then the situation is greatly simplified, since you can immediately proceed with the purchase. There are also situations when you have to sell your apartment. In this case, you need to wait for the deposit, and only then distribute the money to purchase a new home. An erroneous (and very common) decision is to look for an apartment before you sell yours. To sell real estate, you need a reasonable price and, if you will, luck. There are cases when an apartment remains without a buyer for a long time or they offer a much lower amount for it than planned.

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If there is not enough money, you need to think about where to get the missing amount. This could be loans or other borrowed funds. It is also necessary to understand that moving will require an additional amount (preliminary travel, staying at a hotel, transporting things and furniture, etc.). Having calculated all income and expenses, and decided on the amount that can be spent, you can immediately begin the search.

Assessing the location

One of the main difficulties in the question of how to buy an apartment in another region is often simple ignorance of the city. Sochi is the longest city in Russia with quite complex terrain. You can open a map and evaluate the location of the property, “walk” the streets through special services, or ask your agent to arrange a virtual tour for you via video link.

Be sure to consider the following parameters:

• proximity to important infrastructure facilities;
• ecological situation;
• transport accessibility;
• how long does it take to get to the sea?

If you are considering an apartment for moving with children, then evaluate how far away the school, kindergarten, clinic, and educational centers are. If the move is work-related, then using the navigator, you can see how long it will take you to get there.

New building or secondary housing

Depending on your desire, you can choose a new building or secondary housing. Both options have their pros and cons. An apartment on the secondary market is usually located in an area with well-developed infrastructure, landscaping, and is more lived-in and proven. Stability lies in reliable neighbors who live there for a long time, and the functioning of all communication systems, also tested over the years. The disadvantages are the high price or the need to invest in repairs.

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The new building is attractive because you can choose an apartment there according to your financial capabilities, with a free layout and zero energy (being the first owners will be a huge advantage, since the room will be free from the presence of extraneous energy). The disadvantages may be uninhabited territory, lack of necessary infrastructure and all sorts of “surprises” associated with the functioning of communications (this depends on the conscientiousness of the builders).

Assessment of the internal condition and surrounding area

Before purchasing, you must request from the seller or your personal manager as many informative photographs and videos as possible. Be sure to ask to display in graphic materials:

• condition of bathrooms and kitchen;
• state of communications;
• entrance, elevator;
• view from the windows;
• condition of furniture and household appliances;
• general view of the yard, playground;
• parking

It is best for the owner to provide you with photographs taken at different times of the year and day (if such a possibility exists). This is necessary so that you have the most realistic idea of ​​​​the apartment.

Pre-trip

Having chosen several suitable options, you need to go directly to the place of your future home. It is very good if there are relatives or friends in the city with whom you can stay. They can also help you find housing. But it is still not recommended to completely trust other people. To feel “your home,” you need to choose it yourself or just walk in and understand that this is exactly the apartment you dreamed of (or vice versa, when you don’t want to stay in it under any circumstances).

If you don’t have any friends in the city, you need to stay at a hotel for a few days and slowly look through all the proposed options. Usually two days are enough for these purposes.

Apartments in new buildings

Let's assume that you decide to purchase property in a new residential complex that has just been put into operation or is still under construction.

1. It is necessary to send the developer scanned pages of the buyer’s passport - the person to whom the apartment will be registered;
2. The developer fills out an agreement, which specifies the details of the parties and payment terms. The contract is then sent to the buyer for review;
3. If you are satisfied with everything and you agree with all the points, then you need to print out the agreement in three copies and sign it, pay the state fee;
4. It is necessary to make a notarized power of attorney for the lawyer of the developer company or for your authorized representative, who can be a realtor;
5. A package of collected documents, including 2 signed agreements, a receipt for payment of the fee and a power of attorney, is sent to a lawyer or authorized representative;
6. The developer, together with an authorized representative, submits documents to the MFC;
7. After the contract is registered, the developer sends it to you;
8. As soon as the transaction has been registered, you pay the amount specified in the contract.

Please note that if you are married, you will additionally need a notarized consent from the second spouse.

Contact your bank

The buyer and seller come to branches of the same bank in different cities on the appointed day. The buyer transfers money to a letter of credit account. Next, the agreement is signed electronically by both parties. The transaction is being registered in Rosreestr.

“As soon as a new entry appears in the Unified State Register of Real Estate, which states that you are the new owner of the property, the money goes to the seller. There is a “safe payments” service, when the buyer puts money into a special account, it is transferred automatically after registration with Rosreestr. That is, the seller will not receive the money before you become the full owner of the apartment. This way you are insured against fraud,” says Kirill Gnetov.

The procedure takes from several hours to two to three days.

Remote purchase with a mortgage

In order to buy an apartment remotely using mortgage funds, you need to take into account a number of nuances. Banks are not always willing to provide loans for the purchase of real estate in another city.

To take out a mortgage in another region, you will need the following:

• determining the loan amount and down payment;
• submitting an application to the bank;
• obtaining approval;
• providing the bank with a package of documents for the apartment;
• choose a transaction scheme.

Don’t forget about issuing a notarized power of attorney to the person who will deal with this issue – your relative, close friend or realtor.

You can buy an apartment with a mortgage while being in another city, but you must take into account the fact that the bank may be somewhat delaying in checking the legal purity of the property.

Contact a notary

Each of the parties to the transaction chooses a convenient notary office in their city. Notaries check the documents , the draft agreement is entered into the Unified Notary Information System.

The document is also signed electronically by the applicant and the notary and sent to Rosreestr. You can receive completed documents from the registration department in your city the very next day.

Paperwork

Particular attention must be paid to the preparation of documents. In this case, the easiest way would be to contact a real estate company. The realtor will check all the necessary documentation and help with registration. The firm usually has lawyers, some have their own notaries. But even in this case, one must not lose vigilance and completely trust the representatives. It is recommended to read reviews on the Internet about the work of employees and check the legality of the company.

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If you want to buy an apartment on your own, you must first go to a lawyer or the MFC. There they will check the legality of the seller’s documents, give all the necessary advice, and draw up a deposit (if necessary).

Procedure

It is important before you begin to make sure that the selected bank has offices both where you submit documents and where you purchase housing (if required). In this case, it is easier for the lender to check the object and the client’s solvency at all stages of the contract.

The general procedure will be as follows:

• Completing an online loan application or submitting an application in person at the bank.
• Selection and approval of the financing object. As a rule, three months are allotted for this.
• Submission of documents for real estate.
• Signing a loan and insurance agreement.

Obtaining a bank decision

Of course, you need to start with the selection of real estate, since mortgage programs and their conditions can vary significantly depending on the type of property. For example, the down payment and interest rate for purchasing an apartment are lower than for a mortgage on a private house.

A list of documents collected in accordance with the requirements of the credit institution is submitted to the bank office. This package will definitely contain:

• application form;
• papers confirming solvency;
• copies of identification documents of the potential client.

Employment documents are also required, and this fact plays an important role. The longer the borrower works in the last place, the more reliable the organization, the easier it is to get a positive decision from the bank. Therefore, it is better to provide all possible papers that will be required to consider the application.

As a rule, the above documents are sufficient to make a decision on the issuance of funds, determine the maximum limit and interest rate. However, the bank also requests:

• identification documents of the seller;
• other necessary documents (in addition, to ensure reliability, you will need
• provision of certificates, letters, etc.).

It is better to find out at what stage of consideration of the application they should be submitted from a specialist in the mortgage department of a particular bank.

Conducting a transaction

If a potential buyer inspected the property being purchased, that is, traveled to the region where it is located, then it is necessary to obtain the relevant documents from the seller (plans, certificates, certificates, etc.). The client provides these papers to the bank simultaneously with a package of documents to determine solvency and reliability or after the decision to issue. They will also be required when taking out insurance, since insurance companies also have requirements for mortgaged real estate.

Important! After receiving approval, you need to come to the seller’s region yourself or ensure his personal visit or the arrival of his authorized representative to sign the contract in your city. This stage will be affected by the bank’s conditions regarding the registration procedure.

Please check with the bank representative in advance about the format in which documents will be signed and submitted for registration. For example, in 2021, Sberbank, on the territory of its mortgage divisions, provides the opportunity to electronically register a transaction. This speeds up the process. Other major players in the mortgage market are following the same path: VTB, Gazprombank, Russian Capital Bank, etc.

After signing documents, transferring funds and insuring the object (in cases where it is mandatory according to the terms of the lending program of a particular bank), the transaction can be considered completed.

How does the mortgage process work?

First of all, the client needs to decide on a bank and apply for a mortgage loan. The application can be submitted either by visiting a bank office in person or online. To do this, the client will need a passport, documents confirming income and employment. If the application is submitted through the website, then after receiving preliminary approval, the specified documents must be submitted to the lending division of the bank.

The further procedure for the borrower is as follows:

1. Selection of real estate and its evaluation. This procedure takes from 60 to 90 days after approval of the initial application. Typically, the creditor bank provides a list and coordinates of the appraisal companies with which it works. The services of the appraiser are paid separately by the client.
2. Transfer of property as collateral to the bank and registration of an insurance policy. Please note that the collateral, that is, an apartment or house, must be insured. Other types of insurance (personal, title) are voluntary and are issued at the request of the client. Consent to life and health insurance allows you to reduce your mortgage rate by 0.5-1.5 percentage points.
3. Signing loan documentation, completing a purchase and sale transaction and transferring money to the home owner.
4. State registration of property rights.

Since the acquired property is pledged, an encumbrance is placed on it. Once the mortgage is paid in full, the encumbrance is removed and the client becomes the full owner of his own home.