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Shared construction under the auspices of the law

Opportunity to participate in shared constructionattracts many people, because in this case they can buy an apartment at an affordable price and even in installments. The cost of such apartments after the houses are put into operation, increases by 40-50%. Therefore, shared construction, with current housing prices, is often the only chance to buy an apartment and improve living conditions. But until 2005, co-investors or co-investors, individuals and legal entities that invested their money to building companies for the construction of residential apartment buildings, had no guarantees and, in fact, depended on the arbitrariness of these developers. Legal documents, on the basis of which cooperation between developers and investors was carried out, were, basically, investment or joint activity agreements. As a rule, they did not develop mechanisms for such interaction, which would provide sufficient guarantees to investors and insure them against possible risks. As a consequence of this, there were numerous cases when the interest holders could not wait for the promised and paid apartments, remaining, literally, with nothing. Having collected funds, investors either disappeared, or declared themselves bankrupt, and to collect something from them became impossible. At the end of 2004, on December 30, the Federal Law came into force, designed to protect the rights of subjects of shared construction. It is called "On Participation in Shared Construction of Apartment Buildings and Other Real Estate Objects and on Amending Certain Legislative Acts of the Russian Federation." This document establishes a new type of legal relationship between the developer company and equity holders, which are regulated by a separate agreement on participation in shared construction. The agreement on participation in shared construction differs substantially from any other contract - it starts with the fact that it is subject to state registration. This means that your future apartment, the address and number of which must necessarily be specified in the contract, will be entered in the state register of real estate objects, and its owner will be listed on the basis of this agreement. Such foresight will not allow the unscrupulous developer to sell the same apartment to several construction participants. In addition, in this agreement, as the obligations of the developer, the price and exact time is indicated, to which he will have to return the apartment building and give you the keys to your apartment. In the duties of the participant of the share builder, who acts as the customer, is the payment of the price specified in the contract and acceptance of the leased property.

When concluding the contract, make sure that the object, price and deadline of the house are indicated in it, in the absence of one of these parameters, the contract can be recognized as invalid.

Existing risks of shared construction

But, like any investment activity,share construction leaves the likelihood of risk even today. Unfair construction companies find a way to get around the law. In particular, they propose to conclude investors not contracts on participation in shared construction, but, for example, preliminary sales contracts or payment schemes for promissory notes that do not guarantee interest holders of that high degree of protection. In the first case, you do not acquire the right of ownership and, having concluded a preliminary contract, you will have to pay with the developer after the house is put into operation. You risk that as a result, the apartment will be offered to you at a market price. In the second case, after paying the cost of the apartment, you get a bill simply confirming that you gave money to the developer company on a loan, and it does not have any legal obligations to you, except for cash.

The developer company before signing the contract andafter it is obliged to provide you with a full package of documents for the object: a certificate of ownership of land, project documentation, quarterly reports, etc.

Guarantees of shared construction

When concluding an agreement on participation in the equityYour rights are guaranteed by the state. Moreover, if you are an individual and are going to buy an apartment that will be used by you for personal needs, another Federal normative act - the Consumer Rights Protection Act - comes into effect. Therefore, the new apartment should have a warranty period of at least 5 years, and in the event that construction deficiencies have been found that have reduced the quality of the facility, you have the right to demand from the developer: - to remove them within a reasonable time; - reduce the price specified in the contract; - to reimburse your costs for the elimination of these shortcomings.

Tip 2: How to solve the housing problem

I want to own my own housing,human. To be the master in your house or apartment, not to depend on the whims and opinions of other tenants, from the will of the lessor an understandable and understandable desire. And for someone housing question more global, and its solution will be even a removable onehousing. Very often such a problem arises before people who just moved to another city, or before young families who want to live separately from their parents. So how can you solve the housing problem question?

Instructions

1

Shared construction between the developer andthe participant of the shared construction is a contract under which a person invests money in a project, and a construction company must build housing in certain lines. The plus of this method is that the apartment can be purchased at a fairly low price and there are no overpayments for the loan, since in this case the payment is often made in installments. The disadvantage is that it will be possible to settle into such an apartment only after finishing all the work and putting the house in. In addition, there is always a risk that the construction will not be completed. Under the law "On participation in the joint construction of apartment buildings and other real estate and on the introduction of amendments to certain legislative acts of the Russian Federation," the construction company must provide participants with a guarantee of completion. But often developers are looking for workarounds for these laws, in which case to reduce their responsibility. For example, instead of an agreement on participation in shared construction, civil-law acts are concluded that do not already have the same legal force as the first, respectively, and the security of participants in shared construction in this case is lower. Therefore, if you decide to participate in such a project, then you need to carefully choose the developer. Preference should be given to companies with a good reputation, and who have a positive experience in this matter. And before signing a contract, it is better to consult a lawyer in order to protect yourself as much as possible.

2

Mortgages If you do not want to wait until the endconstruction, and want to enter your apartment today, it is worth taking part in a mortgage. Today, all banks have different mortgage programs. Some of them need an initial payment, while others can do without it. When applying for a mortgage loan, many factors are taken into account: your family income, your age, education, length of service, availability of real estate that could act as collateral, and how much you claim. If your family's income is small, then in some banks, your parents' earnings are taken into account. Before you take out a loan, decide what you want to buy. Under the mortgage you can buy an apartment, a country house, and you can take the money and yourself to build what you want. Housing can be purchased both in the primary and non-secondary real estate market. Depending on your goals, you should choose a mortgage program. Also note that there are various federal and regional programs that allow some groups of the population (for example, young families) to take out a loan on preferential terms.

3

RentIf you are afraid to participate in a shareconstruction or a mortgage, or simply you do not have the means for a down payment, but you still want to live in a separate apartment, then you can rent it. Even in the smallest town there are enough announcements about the delivery of apartments and rooms for rent. If you chose this option for housing questiona, then the main selection criteria for you should bebecome your financial position and protection from unscrupulous landlords. To avoid unpleasant situations, it is better to rent a house through a real estate agency, where an agreement is concluded between you and the apartment owner. Or, if you yourself have found a home, it is still worth the time and make some kind of agreement and notarize it so that it has legal force.