Real estate transactions are very common in Russia. People give, share, inherit and sell apartments, houses, cottages and land. All this is a great way to both receive a large amount of money, and a wonderful investment tool that will not "burn out" when the economy falls. When can I sell an apartment after purchase? How to do this in a particular case? What difficulties can modern sellers and buyers face? And do I need to pay taxes after the transaction? Answers to all this will surely help every person. It is possible that it is better for a citizen to postpone the transaction.
Right to sell
The first step is to find out if the owners can sell their real estate. Maybe this is not the best idea?
Under the law, with his property, a person has the right to do whatever he wants - to give, alienate, allocate shares, destroy, inherit, exchange and so on. If the act does not prejudice other people and other people's property, legally significant operations can be carried out.
If the apartment has several owners, you will either have to first offer the other owners a buyback of their share, or agree on a joint transaction. But when to carry it out? And how to do it?
Ways to sell
How long can I sell an apartment after purchase? Unfortunately, not a single lawyer is able to give an unambiguous answer to a similar question. The thing is that the legislation of the Russian Federation does not establish any special terms for the sale of property. True, under certain circumstances, the transaction will be difficult.
You can sell real estate:
- through realtors and real estate agencies;
- in the home.
In the first case, they will do everything for the seller - they will compose an advertisement, place it, and find customers. In addition, conducting a sale through an agency is a legally sound approach. Only intermediary services are charged a commission. She does not always please the direct participants in the operation.
Self-sale of property takes a lot of time and effort. But the person does not have to pay commission once again. In this case, everyone decides how to sell property.
Legislation on the moment of conclusion of a transaction
When can I sell an apartment after purchase? As we have already said, the legislation of the Russian Federation does not indicate any exact timelines on this issue.
What does it mean? The law allows immediately after the transfer of ownership of the object to perform legally significant operations with it. But it’s better not to rush it. And there are reasons for that.
Deadline for amendments to the USRN
Is it possible to immediately sell an apartment after purchase? Yes, including a mortgage. Only better, as already mentioned, not to rush. At least to begin with, the landlord is recommended to amend the USRN. Otherwise, he will not be given an extract from the real estate register. This is an extremely important paper, always appearing in the transaction.
The data in the USRN are adjusted within 5-10 days. After this period, the owner can come to Rosreestr and pick up a statement of the established form. It will replace the cadastral passport, certificate of rights to property, as well as the registration certificate.
Early Sale - Old Property
Can I sell an apartment right after purchase? In general, the legislation of the Russian Federation has no restrictions on this issue. The main thing is to take into account the nuances of the transaction and properly prepare for it.
It is quite possible to sell an apartment a year after purchase. Even a day after the transaction is concluded, the owner has the right to dispose of his property. Only, as already mentioned, this is not always a profitable act.
The thing is that after the alienation of property, a person will have to pay income tax. It is 13% of the amount prescribed in the contract of sale.
When can I sell an apartment after purchase? Although immediately, but on property purchased before 2016, with an early operation, taxation will apply. It applies to the object for 3 years.
Fast Deal - New Rules
But in 2016, the situation has changed a bit. Can I sell a new apartment after purchase? Yes, the main thing is to take into account all the features of the corresponding legally relevant operation.
If the property is acquired after 2016, then taxation will be valid for a longer period. Namely - 5 years. Therefore, it is recommended not to rush into the sale of property.
When there are no taxes
When can I sell an apartment after purchase? According to the law - immediately after the transfer of rights to the property to the new owner. In practice, citizens often wait for a certain moment. Namely - exemption of the transaction from taxation.
From all of the above it follows that you will not have to pay tax after the sale of the property if:
- the property was acquired before 2016 and more than 36 months have passed since then;
- The property was purchased after 2016, and also after the transfer of rights to the object more than 5 years have passed.
There are no more legal ways to exempt a transaction from taxation. All this is extremely important. Especially for real estate transactions.
If there is a mortgage
Is it possible to sell an apartment after buying it in a mortgage? From the foregoing, yes. But a mortgage is a particular burden. And operations with such property are not in special demand.
Firstly, for the sale of mortgage property will have to get permission from the bank in which a loan for housing. Financial companies of the Russian Federation do not too often allow resale of property with an encumbrance.
Secondly, finding buyers even through a real estate agency will be extremely problematic. Encumbered property is not in demand on the property market.
Thirdly, after the transaction is concluded, the seller will still have to pay tax. So, the deal is not always profitable.
From all of the above it follows that it is better to first close the mortgage or wait a few years, and then put up the property for sale. As soon as the burden in the form of a housing loan is removed, the likelihood of a successful and quick transaction will increase.
Instruction: sell the property yourself
When can I sell an apartment after purchase? It is advisable 5 years after the transfer of rights to the object or after the mortgage is closed. These techniques will save you from unnecessary problems.
How to buy and sell? Let's start by examining the process through a real estate agency. Assume that the property has only one owner.
In this case, the seller will:
- Collect a specific package of documents. We will talk about him later.
- Contact a real estate agency and pay for an intermediary, explaining your desires.
- Contact buyers found by the agency.
- Show apartment. This is usually done by a realtor.
- Discuss the nuances of the transaction. For example, hold a bargain.
- Come to the real estate agency at the agreed time with documents prepared in advance and sign the “purchase” agreement.
- Receive money on hand and give the buyer an acceptance certificate, as well as a receipt on delivery of funds.
- Give the new homeowner the keys.
That's all. After the actions taken, the apartment will be sold. Now it remains to submit a tax return to the Federal Tax Service and, if necessary, pay tax.
Important: property tax will have to be paid another year after the conclusion of the purchase agreement.
Instruction: do it yourself
How soon can I sell an apartment after purchase without taxes? If the property was purchased before 2016 - after 3 years, otherwise - after 5 years after the transfer of rights to a particular object.
And how to sell the property yourself? To do this, a person needs:
- Prepare an apartment and documents for the transaction.
- Take a photo of the property and make an announcement.
- Place ads on the sale of property on all kinds of boards and in newspapers.
- Contact potential customers and arrange an apartment demonstration.
- During a meeting with buyers to answer all questions about the property, as well as possible to conduct tenders.
- If the housing suits the buyer - agree on the date of the transaction.
- At the agreed time, come to a notary with pre-prepared certificates and sign a contract of sale.
- Issue a receipt on receipt of funds by the seller.
- Pass the keys to the apartment and the act of acceptance of the object.
- Pick up your copy of the purchase and sale agreement.
It doesn't sound as scary as it sounds. The main thing is to properly prepare for the operation. Without certain documents, this task cannot be dealt with.
Help for the transaction
Is it possible to immediately sell an apartment after purchase? From all the above, it follows that yes. But it’s better to wait for tax exemption.
To sell housing, you have to prepare:
- purchase agreement;
- USRN statement;
- title documents for the object;
- passports of the parties;
- permission of the spouse for the transaction (from the buyer and seller);
- Marriage certificate;
- prenuptial agreement (if any);
- consent of the co-owners to the operation or refusals of the repurchase.
That should be enough. If the owner of the object or its share is a child, additionally you need to prepare:
- parental consent and custody of the operation;
- birth / adoption certificate;
- child's passport (if any).
In practice, housing owned by a child is not in demand. Sell it is extremely problematic.