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How to quickly sell a house

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How to buy property that has become the property of the bank

One of the most profitable types of investing in real estate is investing in mortgaged property. In this market you can find the most profitable deals. There is even a category of investors who specialize exclusively in property seized for debts.

Market condition

Before the global economic crisis, there was a boom in real estate demand in many foreign markets. Buyers often bought apartments and houses with a mortgage, not yet knowing that an economic recession would begin, and they could not pay. As a result, during and after the crisis, a huge amount of housing was seized for debts. There are especially many problem objects in Spain, Greece and the USA.

In Spain, owning a property bought on credit after the onset of the crisis became unprofitable: as a result of lowering market prices to 60%, the cost of collateral ceased to cover the amount of credit debt, and the so-called “negative equity” arose. As a result, a huge number of houses were confiscated for non-payment. Some banks were the owners of thousands of residential and commercial real estate, which then began to sell at bargain prices. Since 2007, in Spain, according to the Spanish Property Insight, banks seized over 250 thousand objects. In reality, these numbers may be higher. According to the National Institute of Statistics, in Spain from 2003 to 2013, 25% of objects purchased on credit were seized by banks. In the I quarter of 2014 the number of objects confiscated for debt in the country decreased by 4.2% year on year, but increased by 19.5% for the quarter. As of Q1, most of the objects were seized in Andalusia (4,373), Catalonia (3,993) and Valencia (2,726) - that is, in the most popular regions.

In Greece, since 2010, the government has frozen the procedure for the removal of housing for those whose debt does not exceed 200 thousand euros. This measure prevented the appearance of thousands of homeless people in the country. The economic situation in the country continues to be dysfunctional: as of April 2014, 27% of the population were unemployed. According to the Bank of Greece, as of Q1, 33.5% of loans are non-functioning, that is, interest is not paid on them.

According to information from CoreLogic, as of May 2014, about 660 thousand homes were seized by banks in the United States. The number of such objects is constantly decreasing: in May 2013 there were about 1 million of them. Now 1.7% of houses purchased with a mortgage have been seized in the country. The largest share of confiscated homes - in the states (5.8% of the number of objects bought on a mortgage), Florida (5.2%), (4.3%), Hawaii (3.1%) and Maine (2.8 %). In the 12 months to May 2014, almost half of all homes taken for debt fell in five states: Florida (122 thousand objects), Michigan (44 thousand), Texas (39 thousand), California (34 thousand) and Georgia (32 thousand).

Phases of the sale of mortgaged property

Best of all, the process of selling mortgaged property is regulated in the United States. This country has three phases: short sale, auction, and REO. In all three cases, you can buy real estate using a mortgage, but in the case of an auction, it is difficult to get a loan, because you need to complete a deal in a short time.

    "Short sale" (short sale) - sale without coverage for the period when the owner and creditor seek to sell the property as quickly as possible. In this case, the selling price of real estate is necessarily lower than the total loan commitments made. "Short sale" takes many months, and sometimes years, as it is associated with bureaucratic procedures. As you wait, interest rates may change, banks are not inclined to agree to sell at a price significantly different from the market price, and real estate prices are rising rapidly, therefore, when a negative response is received from the bank, the buyer will simply lose time. such delays "short sale" is not popular among investors.

Says Ilya Bitkov, a Coldwell Banker realtor: “In May 2014, we closed the“ short sale ”deal, where five potential buyers changed because two lenders could not make a decision for more than two years. There was a terrible stress: instead of getting a loan for a purchase, my client had to borrow an impressive amount from her family. Only 14 days were allotted to us to close the deal, while the standard term is 30 days. At the same time, we had to wait about 10 months, and the apartment was purchased only cheaper than similar options sold standardly. ”

If the “short sale” is not approved by the creditor or it is impossible to complete it for other reasons, then in most cases the next step will be the forced sale (foreclosure) and auction.

Foreclosure and auctioning. The starting price is usually the unpaid amount plus other additional costs. The object goes to the one who pays the most. Sometimes there is only one buyer at an auction, sometimes not a single one at all. For example, auctions (also known as sheriff sales) are held by sheriffs in the capital of each district, and the successful bidder must immediately pay 20% of the declared purchase value on the day of the auction and complete the transaction within 30 calendar days. “Buying foreclosure is not a simple matter, and Ilya Bitkov believes that most experienced players most often successfully play on this field.

If the auction has failed in several attempts, the lender most often decides to put the problem property on his balance sheet and forcibly evict the owner. In this case, the object becomes the property of the bank and turns into REO (Real Estate Owned). And in this case, real estate-related tax and utility debt is fully repaid by the bank.

REO (Real Estate Owned). If the property could not be sold at auction (there were no bids or bidders, or the price was too high), the bank withdraws the property and puts it up for sale using the local real estate agency through the MLS (multiple listing service) system.

“REO is the most simple and logical option for a foreign investor who does not want to face the difficulties associated with buying a short sale or foreclosure. The price is initially as close as possible to the real market value, however, you can bargain here more actively and at this expense achieve a slightly better result than when buying from a private person. In many cases, the bank can provide a potential buyer with an independent assessment of the object of sale and a preliminary prepared report on its technical says Ilya Bitkov.

According to the expert, the following scenario is most successful: buying a house requiring renovation at an auction, repairing or rebuilding, and subsequent resale. Often in the most ordinary-looking and broken versions there are good opportunities for such investments. In this case, you have to operate in cash, since obtaining a loan will add significant costs and require additional time.

In Spain, auctions are most often used to sell distressed real estate. However, not all objects are put up for auction, especially if there is no "negative capital". In Spain, the “dación en pago” procedure is widespread (provision of mutual satisfaction, transfer of property to a creditor in payment of a debt). During this procedure, the owner in the presence of a notary transfers ownership to the bank, thereby repaying the debt, and is no longer considered a debtor. This procedure is not applicable to objects with "negative capital". “This is an option that the property owner can discuss with the bank if he is unable to pay the mortgage and would like to pay off the debt by transferring the property back to the bank. If at the time of transferring the object back to the bank, the amount paid did not repay the bank's commission and mortgage payments, then the bank, even after accepting the property from the owner to repay the debt, will wait for the fulfillment of the obligations to pay these payments. Once the property goes to the bank, it will be put up for sale again - at auction or through a network of accredited ones, says Mary Dunn, managing director of MP Dunne Properties.

Spanish banks, which have on their balance sheet debt housing, usually enter into agreements with real estate agencies. As soon as the bank receives a request to purchase such an object, they transfer it to realtors, and they are engaged in full support of the transaction. The commission is paid to the real estate agency by the bank, and for the buyer, the assistance of a realtor is free.

According to Mary Dunn, in the case of an auction in Spain, the buyer should be prepared to pay the full amount without attracting a loan. When buying through an accredited agency, the client will be able to enter into negotiations with the bank about the final price and mortgage.

"Underwater rocks"

Buying property that has become the property of the bank requires a thoughtful approach. There are several points that buyers should pay close attention to.

  • Banks do not make big discounts on liquid real estate. Mortgaged properties are often sold at less than market value. Selling such real estate to banks is a non-core occupation, they also do not specialize in management and do not make repairs, and therefore they strive to get rid of real estate as soon as possible in order to get "real" money. In addition, theoretically, real estate can wait for a buyer for years, and all this time the bank will have to pay taxes, insurance and utilities. “However, banks do not give big discounts on high-quality facilities, since it is not profitable for them. Big discounts are directly proportional to the liquidity and demand for local facilities, says Georgy Kachmazov, head of Tranio.Ru.
  • There are hidden costs. “When buying property through a bank, clients run the risk of encountering some additional ones, says Georgy. For example, we know of cases where, when buying through a bank, customers were required to use the insurance of a particular company owned by the bank and the services of lawyers. These services are more expensive than usual, so the bank compensates for losses from “inexpensively” sold real estate. Also, the real cost of a mortgage can be hidden behind various service fees for servicing a client's account with a bank, which also needs to be opened. Therefore, if you calculate all the additional costs, it may turn out that banking real estate is not as profitable as it might seem at first glance. "

For example, in Spain, when filing a lawsuit against a debtor, an investor needs to pay a court fee, which depends on the size of the debt. Before the auction, it is necessary to assess the value of the object, which is also paid by the investor (depending on the object - from 300 to 500 euros). You also need to pay 0.5% of the debt value for registering the encumbrance in the real estate registry.

The investor should focus on moderate profits. The object must be chosen so that, taking into account the discount and the subsequent increase in debt, the investor will make a profit in case of purchase at the auction. Some agencies promise a profit of 50-100% of the invested capital, but in reality it will be much less. “It is possible to achieve significant profit only in very problematic regions, but in stable regions it is very difficult. perhaps, it’s just an advertising campaign by investment gurus promoting their services. In some cases, you can achieve profit says Ilya Bitkov.

“Profit depends on what kind of object it was, when it was purchased, at what price, how the market changed during the time from the moment of purchase to the time of sale, what improvements were made, as well as the availability of such objects on the market and many others says Mary Dunn.

  • At the auction, you often buy a "pig in a poke." As long as the property has not changed its owner, inspection or evaluation of the property from the inside by law is not possible. Most often, there are only photographs of the apartment or house and the ability to approach the object from the outside in order to assess its condition and environment. “An object leaving the auction may be partially or completely occupied by the owner or tenants, while the forced eviction will begin only after the transaction is completed and may take an indefinite time. Often, the buyer does not have direct access for internal acquaintance with the property being sold, there is no possibility to conduct a detailed search (Title Search) for possible problems and the presence of arrears on utility bills, tax payments, says Ilya Bitkov.
  • Distressed property is not always in good condition. You should not expect that the confiscated property will be in perfect condition. At a minimum, the premises will require general cleaning. If the previous owner did not have the funds for the current repair, be prepared to detect dampness, leaking pipes, damaged drains or a broken heating system. Apartments seized from private individuals, unlike primary real estate, often require repair, so the prices for secondary housing of this type are low: for example, in Spain there are objects with an area of ​​up to 80 m² at a price of less than 40 thousand euros.
  • Banks do not have after-sales service. If you will purchase housing directly from the bank, then you will also have to solve all subsequent problems yourself. Banks do not have after-sales departments that help to overcome initial difficulties and take upon themselves the preparation of all documents after the transaction (electricity supply contracts, telephone connection, agreement with the management company or HOA, etc.). It is better to contact the agency - the official representative of the bank. Currently, almost all banks cooperate with various real estate agencies.
  • To find a suitable house or apartment, try contacting a bank or browsing real estate sites. Some Internet resources are entirely devoted to the sale of confiscated property. You can also contact real estate agencies. Many of them are engaged in such sales, although they do not advertise this in order to avoid negative associations. Another option is to pay attention to real estate auctions, where such lots can also be.

    Overseas property Tranio.Ru has entered into direct agreements with many major European banks. The site has a selection of objects from banks, for example, on the page "Banking Real Estate in Spain" presents about 200 objects.

    Step 1. Assess the property

    To set the price of an object yourself, compare it with similar offers on the market. This can be done via the Internet. The cost of suburban real estate is determined by a number of factors:

    📝 location - the distance to the district center or the nearest city,

    📝 terrain features - proximity to recreation places, ponds, forest, ecological situation in the region,

    📝 characteristics of the building - year of construction, area, used building materials, quality of communications and interior decoration,

    📝 characteristics of the site - area, landscaping, the presence of outbuildings, a garage, an asphalt driveway, fruit trees.

    To establish the exact value of the house and land, you can order the services of a professional appraiser. As a result of his work, you will receive an official opinion on the assessment of real estate, indicating the estimated price based on the characteristics of the object and the market situation. The average price of a service is about 6,000 rubles.

    The main documents that are needed to sell a house:



    Documents for selling a houseNote
    Passport of the ownerA copy of 2-3 pages, registration, upon registration of the contract of sale to present the original
    Proof of ownershipPurchase agreement, testament
    Technical passport of the object, floor plan of a residential buildingIt is made out in BTI
    Cadastral passportIt is issued on the basis of an object’s data sheet and includes a site boundary plan
    Help from the Unified State RegisterIssued at registration chamber
    Extract from the house bookIt is drawn up at the migration center at the location of the object.
    Consent to the sale of all citizens registered in the houseWith an obligation to write out after transaction

    Additional documents:



    Consent of the spouse for the sale of the houseIf the house is jointly acquired property, the consent is notarized
    Authorization of guardianship authoritiesIf the owner is one of the owners a minor
    Certificate of absence of debts for utilitiesIssued in the communal organization in whose office the facility is located
    Certificate of tax on real estate (with a previous purchase or receipt of an inheritance)It is drawn up at the request of the buyer, for help, contact the IFTS of the Russian Federation

    💥 if you received the ownership right before the law on state registration was changed - before selling, register the land and the house on the basis of a deed, gift agreement or barter,

    💥 if the apartment building is not registered, get a registration certificate on the basis of a certificate of ownership of the land and an agreement on the right to use the territory under private housing construction.

    Шаг 3. Составьте и подпишите договор купли-продажи с покупателем

    Договор купли-продажи составляется в письменном виде. If the owner of the real estate is single, the transaction is notarized at will, if there are several owners, the notary publicly draws up a purchase-sale. If one of the owners of the house has not reached the age of majority or is legally incompetent, a transaction must be obtained by a notarized permission of the guardianship authorities.

    Data is entered into the document:

    📌 subject of the transaction - a complete list of all property for sale: land, residential and non-residential buildings, other property,

    📌 property identification data - address, area, purpose,

    📌 price - the total and each object separately,

    📌 additional information - the date of entry into ownership, the procedure for payment of the transaction and additional costs, guarantees.

    For the transfer of real estate, it is recommended to draw up a separate act of transfer and acceptance and attach it to the main contract.

    Cash settlement when purchasing real estate is used extremely rarely, usually the transfer of funds is made out by bank transfer, cell or letter of credit. This helps to eliminate errors in the calculation and reduces the number of robbery cases. Bank employees can verify the authenticity of banknotes. Upon the transfer of funds, the buyer has the right to receive a receipt from you. After payment, the parties to the transaction sign an agreement and an act of acceptance.

    Important! To fix the intention and timing of the sale, you can draw up a preliminary contract. It is not necessary to register such a document. If the transaction did not take place within the agreed period, the preliminary contract shall be invalidated.

    Step 4. Register ownership transfer

    In order to properly sell a house with a land plot in the village, it is necessary to officially register the fact of transfer of ownership of the object in Rosreestr. For this purpose, transfer one copy of the contract and copies of title documents to the registration authorities. The procedure will take 10 business days.

    Step 5. Pay taxes

    After the sale of a private house, you must file a tax return in the form of 3-personal income tax. Important information regarding the tax system:

    ❗❕❗ If the seller has owned the property for less than 3 years (when making a gift, inheritance or privatization), or less than 5 years (when selling), they must file a tax return. If the seller has owned the property for more than 5 years, the sale is not taxable.

    ❗❕❗ If the house has been owned by the seller for less than 5 years, the amount of tax directly depends on the sale price, cadastral value of the property, the seller’s purchase and repair costs, which he can officially confirm.

    ❗❕❗ Every citizen of the Russian Federation can receive compensation when paying taxes on the sale of real estate - receive a tax deduction. This is a one-time compensation in the amount of 1 million rubles, which is provided upon request. To receive a tax deduction, you must write a statement.

    Additional payments when selling a house

    💰 Receiving an extract from the Unified State Register - 200 rubles,

    💰 legal verification of documents - about 2,000 rubles,

    💰 full legal support for the transaction - an average of 35,000 rubles,

    💰 object insurance - about 0.3%.

    The indicated prices may differ from the real prices depending on the region, features of the transaction, conditions of intermediaries and organizations.

    Feature of selling private homes

    According to the law of the Russian Federation, you can buy a private house only with the site on which it is located. When buying a part of the house, you are supposed to have the appropriate size of the part of the plot: half, ⅓, ¼ and so on. The purchase of housing and land can be made out in one contract indicating the price of each property, or draw up two documents.

    Exceptions! You can sell a house without land if:

    📋 the site has been withdrawn from circulation - included in the composition of nature protection territories, assigned to the military departments,

    📋 the building cannot be transferred into ownership together with the land for the reasons specified in Article 35 of the Land Code.

    How to quickly sell a house in the village: features and tips

    Emphasize the merits of the object. In addition to describing the size of the living space and land, year of construction and other technical data, provide information about the surrounding area, the region’s ecology, and the territory’s landscaping. In the ad, tell us about communications or the possibility of connecting them. When talking with a potential buyer, try to take into account his preferences: if you buy a house for your grandmother, tell me where the nearest clinic and pharmacy are located, if the family with children is a school, a kindergarten, a picnic place.

    Choose a good time to sell. The greatest activity on the suburban real estate market is observed in the warm season: from late spring to early fall. During this period, it is more convenient for buyers to inspect suburban homes, and owners can present the property in a favorable light: clean the area, ventilate the premises, arrange a place to relax.

    Prepare a package of documents. It is possible to quickly and profitably sell a house in the village if you have all the necessary certificates and statements for real estate: documents of title, extracts from the house book, technical and cadastral passports. By doing this, you guarantee that the transaction will pass quickly, legally, and increase the number of responses among buyers.

    Step 1. Choose a sale method

    Before you start searching for buyers and collect the necessary documents, you need to decide for yourself who will be involved in the resale of your property.

    There are 2 options:

    1. Hire a realtor
    2. Do the selling yourself.

    It is beneficial for a realtor to entrust the sale of land with a house if you need to sell the property urgently, or you are afraid to become a victim of scams. In this case, you will have to pay a rather large amount to the agency, but for this they will do all the work for you (find a buyer, help prepare the necessary package of documents, make an accurate assessment of the property, etc.).

    If you want to start selling yourself, then it’s quite possible to find a potential buyer without any help. And how exactly we will tell now.

    Step 2. We begin to collect documents

    Even before the start of the search for potential buyers, we advise you to start collecting documents for your property, as this process can stretch for many months.

    So, you have to collect documents separately for buildings (for example, a house) and separately for a land plot.

    For sale home need to order in the BTI of those. passport and floor plan of the building. You come to this organization, write an application according to the model that will be provided to you, after which engineers visit you, inspect residential real estate, draw up a floor plan, on the basis of which you will be issued a technical passport.

    In order to sell the land, you need to contact the Rosreestr and also inform about your intentions to sell the land. After you write the application, cadastral engineers will come to you, measure your site and draw up a boundary plan. Within 30 days, the employees of the Registration Chamber will check all the documents you bring and issue a cadastral passport.

    Perhaps you already have these documents in hand. they are issued upon registration of real estate, in which case they do not need to be ordered.

    If your land is not registered with Rosreestr, then you will have to carry out a number of additional procedures.

    For registration of the transaction, the seller must necessarily have with him a Certificate of state registration of land rights. If you do not have such a document, then you need to re-register your land rights.

    Step 3. Evaluate the property

    To search for buyers, you need to create an ad in which you have to indicate the cost of real estate for sale. That is, it is necessary to evaluate the land and the house.

    You can set the price yourself, or use the services of an appraiser.

    If you turn to specialists, then you will receive an accurate assessment of your property + an official document that can be shown to the buyer.

    Of course, such services are quite expensive, but that’s why you’re definitely not cheap.

    You can set the price yourself. To do this, you need to analyze the real estate market by looking at all the newspapers and magazines in your city and visiting specialized sites. Based on the available ads, you set a price for your property.

    The following factors influence the formation of prices:

    1. Geographical location of real estate for sale,
    2. The condition of the house, its number of storeys, failed communications (gas, water, etc.),
    3. Remoteness from the settlement (or city center),
    4. Existing infrastructure
    5. The presence of additional buildings (sheds, baths, etc.),
    6. Environmental features, the presence of near scenic landscapes,
    7. Distance from the carriageway, etc.

    Step 4. Looking for a buyer

    In order to quickly find buyers, you need to make sure that your proposal knows the maximum number of people.

    The most effective way is advertising through online resources. Place your ad on specialized sites.

    In addition, you can stick up ads in the area where you are selling property, or distribute flyers.

    Do not forget tell about the sale to all your friends, friends, neighbors and relatives. Sometimes word of mouth works better than the Internet.

    It will be useful place an ad on the house being sold (or just say “FOR SALE” at the gate).

    Step 5. We invite the buyer to view and negotiate

    When a potential buyer calls you and is interested in real estate for sale, invite him to view. But before showing it, clean up the inside of the house and clean the area around it, take out the garbage, take out the trash, demolish the dilapidated buildings.

    During negotiations, try to be friendly, considerate and unobtrusive. Demonstrate all the advantages of real estate for sale, casually mentioning the shortcomings.

    Step 6. Drawing up and signing a preliminary contract

    If the buyer has expressed a desire to buy a house with a plot under it, invite him to sign a preliminary contract. It is compiled in any form.

    The contract shall include:

    • Material conditions affecting the execution of the transaction,
    • Conditions that relate to the subject of the contract (for example, price),
    • The amount of time allotted for the execution of the transaction.

    The conclusion of the contract is not a prerequisite for the transaction, but we would still recommend signing this document.

    • Download Preliminary contract for the sale of a residential building

    Step 7. Collection of all necessary documents

    After drawing up and signing the preliminary contract, it is possible and necessary to start collecting documents for the sale of a house with a plot.

    In different situations, the list of documents may vary, but we will list the main securities:

    • Passports and copies of the seller and the buyer,
    • A notarized power of attorney, if the transaction is not executed by the owner of the property,
    • Notarized permission of the spouse to sell the property, if it was purchased in a marriage,
    • Permission from the board of trustees (under the administration of your city, district), provided that a minor is involved in the transaction,
    • A document that confirms the seller’s ownership rights to the property being sold (purchase agreement, certificate of inheritance or equity in construction, etc.),
    • Technical certificate,
    • Floor plan of the house,
    • Cadastral passport,
    • Land plot plan,
    • Certificate of state registration of land rights,
    • Certificate of payment of land tax,
    • Extract from the house book,
    • Certificate confirming the absence of debts on utility bills,
    • Extract from Rosreestr,
    • Certificate confirming the absence of encumbrance,
    • Preliminary contract (at the request of the parties).

    Step 8. Registration of the sale

    Both parties (the present and future owner of the property) must draw up and sign a contract of sale. This is the main transaction document. It is made in triplicate.

    1st remains with the seller,

    2nd is given to the buyer,

    3rd transferred to Rosreestr.

    It can be concluded both at the notary public, and at any lawyer or without their participation.

    • Download the contract of sale of the Residential building with the Land
    • Download The contract of sale of a residential building (the land plot under the residential building is with the seller on the right of permanent (unlimited) use)

    The contract should contain the following clauses:

    1. Title of the document,
    2. Place and date of his conclusion,
    3. The list of all objects covered by the contract,
    4. Transaction amount, i.e. price of the house and land
    5. Other terms of the transaction.

    The contract must necessarily contain the clause “Transfer of land under the house”.

    Step 10. Re-registration of property rights in Rosreestr and full settlement

    In order for each reader to understand the procedure for processing documents in Rosreestr, consider the situation using an example.

    Example:

    Let's say a buyer Petrov sells his property to a buyer, Ivanov.

    On the agreed day, Petrov and Ivanov contact the Rosreestr, where the first draws up a statement on the transfer of their rights and property. Then Petrov gives the collected documents to the employee of the Registration Chamber (the documents listed in step 7 + the deed of transfer and 3 copies of the contract of sale).

    Both parties, in the presence of a representative of Rosreestr, sign the necessary documents, after which Ivanov transfers money for the property to Petrov.

    If Petrov wants the buyer to personally transfer the money for the property to him, he takes several witnesses who record the fact of the transfer of funds, after which the seller draws up a receipt that the money was received on account of the sale of the property.

    You can make a payment through a bank cell. This is a more reliable way for the seller, while at the bank you can check each bill for authenticity.

    After completing all the formalities, Ivanov receives documents within 30 days that confirm his ownership of the purchased property.

    Design features associated with the sale of land and houses

    The legislation of the Russian Federation is not allowed to sell a house (or any other buildings) without a plot on which it stands. If you buy half of the house, 1/3 or 1/4 of its part, then the buyer is entitled, respectively, half, 1/3 or 1/4 of the land.

    The purchase agreement indicates the fact that the buyer acquires a building with a plot. In this case, the price of the building (i.e. the house), the price of land and the total value of the property are prescribed.

    Two contracts can be drawn up. One on the land, and the other on the house.

    The consequences of selling a house without a plot under it

    Despite the fact that according to the Land Code of the Russian Federation, it is impossible to sell a residential building without the land on which it is located, there are exceptions.

    In 2 cases, it is possible to sell only a house, according to Art. 35 of the Land Code of the Russian Federation:

    1. If the land has been withdrawn from circulation. This fact must be documented,
    2. If the sold part of the building for any reason cannot be allocated to the new owner along with the land.

    If the house was sold without a plot, and it does not fall under Art. 35 of the LC RF, then the contract is considered invalid. The buyer has the right to make a statement of claim and apply to the court.

    The court will oblige the seller to renegotiate the contract and transfer the land, otherwise the encumbrance (arrest) will be imposed on the land. After which it will not be possible to sell, donate, donate, etc.

    Conclusion

    Making a sale of a house with a land plot is slightly different from the standard procedure. The owner must prepare documents separately for the house and separately for the land. At the same time, it is impossible to sell a building without a site on which it is located. By compiling one sales contract, the buyer becomes the owner of the house and land.

    We hope that our article was useful to you and now you know how to arrange a sale of a house with a land plot. If you have questions and doubts, we would advise you to consult experienced lawyers for advice.

    History of the origin of MLS (MLS)

    According to NAR, in the late 1800s, real estate brokers regularly gathered at the offices of local real estate associations to exchange information about their properties. At such meetings, a joint decision was made on the mutual payment of part of the commission in a joint transaction. This is how the multi-listing system was born, based on the universal principle of the US real estate industry: “Help me sell my assets, and I will help you sell yours.”

    Developing initially in the USA and Canada, the multi-listing system has spread to other countries, such as the United Kingdom. In these countries, it exists in various forms and combines the offers of brokers belonging to the American Association of Realtors (NAR), the Canadian Association of Realtors (CREA) and the Independent Network of Real Estate Agents INEA in the UK. There is no one universal multi-listing system, as there is no universal format Database.

    However, many MLS systems in North America support a single realtor information standard - RETS, which allows unifying the input and presentation of information about real estate from different databases. Множество местных и частных баз данных, использующих xml-формат для обмена агентскими листингами коллективно рассматриваются как единая система MLS благодаря общему формату обмена данными и типовому договору доступа к системе. Подобные базы обычно контролируются риэлторскими ассоциациями, которые представляют интересы всех брокеров определенного района или города.

    Purpose and advantages of MLS

    The main objective of the MLS system is the ability of the broker to publish one-sided listing offers with a commission. In other words, the size of the commission offered by the broker who has entered into a listing agreement is also published in the MLS system. This proposal implies contractual obligations, but may be revised by agreement between brokers.

    The materiality of listings and commission information determines the interest of all system participants in the timely and accurate entry of all data in MLS. Another advantage of the MLS system is a professional selection of fields filled in by the agent for the object. The questionnaire of the object is formed on the basis of actual realtor experience and is very different from the same questionnaire on publicly available resources.

    Restriction of access to the MLS system and other critical factors

    Despite the fact that the MLS databases are closed, these systems today are becoming more accessible due to the partial placement of listing information on specialized sites. By special arrangement with professional communities, these sites offer customers limited comparative data on properties and monthly price statistics.

    A person selling his own property (the so-called object from the owner) usually cannot place his object in the MLS system on his own. The only exception to this standard practice is the MLS system in Spain - AMLASpain. On the other hand, even a licensed broker who has not joined the necessary professional community cannot join the MLS system. One way or another, there are brokers and multiple online resources that offer owners to place an ad on the object in the local MLS database, paying a fixed fee.

    United States MLS Distribution Policy

    The National Association of Realtors (NAR) has developed a number of rules that allow brokers to publicly display some of the information from MLS on their own sites using the IDX - Internet Data Exchange system. NAR is also a co-founder of Move Inc., which owns the Realtor.com website. This site has received the exclusive right to publish a significant portion of listing information.

    MLS systems in the world

    Although in many countries there is a lack of legislative framework and technologies to control the implementation of real estate transactions, at present many countries are trying to catch up with countries in which the real estate market is most civilized and developed.

    The MLS system in Canada has over 98,000 members and is supported by the Canadian Association of Realtors (CREA), operating in 101 real estate associations and 11 provincial associations. USA The most extensive MLS system in the USA is rightfully considered to be MLS in Washington (DC). As of January 25, 2010, it had over 49,000 active members.

    Great Britain

    In the United Kingdom, a multi-listing system exists on the basis of individual providers working with specific agencies and agents. Therefore, the multi-listing system is in its infancy here, and the platform for exchanging information between agencies exists on the basis of the Independent Network of Real Estate Agents (INEA), which works with 60% of the main providers, providing exchange of information on listings.

    The Philippine Association of Realtors (PAREB) operates the MLS - RPMLX - system in the Philippines. PAREB is an official member of the United States International Realtors Association (NAR).

    The history of the Vietnamese MLS system began in 2010. The system is based on the American model with some changes. In particular, the system also supports open listings. Direct listings from the owner of the system are not allowed.

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