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The purchase of housing on the secondary real estate market: what you need to know

Покупка жилья на вторичном рынке недвижимости: что нужно знатьIf, after the transfer of the Deposit the buyer refuses to buy real estate, the amount not returned to him.

If you finally decided on the purchase of apartments on secondary real estate market, weighed all the advantages and disadvantages of such a decision, is to learn in detail how the calculations for the purchase of housing on the secondary.

Returns whether the advance?

Before you carry out the operation of buying and selling real estate, the parties agree about a certain advance or a Deposit and set a period within which the transaction should take place.

Experts say that to pass the advance or the Deposit is only on the basis of the preliminary contract, which will be clearly stated agreement of the parties on the duration, value, liabilities of the sellers and the like.

Basically, if after the transfer of the Deposit the buyer refuses to buy real estate, the amount not returned to him.

If to conclude the basic contract the seller refuses, then he is obliged to refund the Deposit in double.

Cash or non-cash?

By agreement of the parties, the calculation can occur both in cash and cashless form.

Wire transfer funds are transferred to the seller, which must be specified in the contract.

It is important to know that today banks in Ukraine have to check the source of the funds to all customers who want to conduct transactions for the sum over 150 thousand hryvnia. Therefore, the buyer should be prepared to provide the financial institution with such information. In practice, payments for the purchase of real estate on the resale to occur more often in cash.

Despite a legislative ban of calculations between physical persons in cash for the sum more than 150 thousand hryvnia per day for individuals do not established the liability for such violation. The parties shall bear responsibility for such an operation – the notary is not obliged to check whether they paid off.

The contract is usually stated that the calculation took place on the day of conclusion of the contract.

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