A share in the construction of housing
A share in the construction of housing in Russiais associated with considerable risks for customers. Often you can hear and read about defrauded real estate investors, long-term construction, construction freezing, gross violations of the deadline for delivery. In order not to fall for the bait of scammers, unscrupulous developers, not to buy houses in houses that are unlikely to be abandoned on time, I suggest that you familiarize yourself with the material below.
In order to protect the rights of equity holders, the law on participation in construction was adopted (Federal Law No. 214), there are three ways to purchase housing in an apartment building:
- Signing an agreement of equity participation (DDU).
- Joining the Housing and Construction or Housing Cooperative Cooperative (HCC and ZhNK).
- Acquisition of housing certificates.
A legal basis is also a conclusion withthe developer of the investment agreement, but it is very risky for the interest-holders. The fact is that the investment contract can be concluded at any stage of construction, even at the stage of the project and excavation without having the necessary documentation. In addition, in this case, sell the unfinished apartment (to assign the right to it) will not work - the law forbids it.
The most reliable way to purchase housing forThe primary market is the conclusion of an agreement on equity participation in construction. If the developer offers other options, it means that he has some difficulties and problems.
Why should you choose participation in construction according to the DDU scheme?
Taking a share in the construction and signing the contract, please note that it must contain:
- area, floor, number of rooms, the material from which the house is built, and other housing parameters from the project documentation;
- term of delivery of the house;
- the price of the purchased apartment;
- terms of guarantee (not less than five years for the whole house and at least three years for engineering communications).
If in the contract there is at least one item out of the four above, then the contract is not considered concluded.
If the developer violated the deadline for the surrender of the house, he must pay a penalty in the amount of 1/300 of the Central Bank's rate. If the buyer is an individual, the penalty is paid in twofold.
The buyer may refuse to meet the conditionsDDU, if the developer did not put the house into operation two months after the indicated period, and also if the quality of housing does not substantially meet the requirements and standards of construction.
An important indicator that the share in construction under the 214th law is the most reliable, - banks issue mortgages for housing in these facilities.
Of course, only the fact that the developerworks under the law No. 214, does not guarantee that you will not be deceived. Before taking a share in the construction of a certain house, it is worthwhile to carefully check the developer, you should find out whether he built many houses and put them into operation, whether he violated the terms. It is very useful to search the Internet for legal claims against the developer (for example, on the website of the Arbitration Court).