An apartment is one of the most popular transaction facilities. Thousands of apartments are bought, sold, mortgaged or rented daily. To sell your apartment, you need patience. Buyers often ask to lower the price of real estate, and the seller does not want to do this. Therefore, the sale of an apartment sometimes takes more than one month, and sometimes several years.
Today, real estate agents very often use the term “net sale”. Undoubtedly, this concept draws attention to the apartment. From the article you will find out what it means to sell a flat.
The concept of "net sale"
In legislation, the term "net sale" is missing. In practice, this concept has several meanings. Net sale is:
- sale of housing in a new building (no one has been registered in the apartment and no one has ever lived);
- sale of an apartment whose owners have other housing: a potential buyer does not have to wait for the owners to vacate the housing.
In simple words, the free (clean) sale of an apartment is the sale of housing in which no one is registered. Sometimes, when talking with a realtor, you can hear the expression “clean”, or “free sale of an apartment”. These terms are the same in meaning, so you can use both concepts.
But do not confuse the concept of “clean apartment sale” with the legal term “clean apartment”. The latter means that the apartment is not seized, it is not pledged, and this apartment did not appear in illegal manipulations.
Let's take a closer look at what is a “clean apartment sale”? What does this concept mean?
The meaning of net selling
The term "net sale" realtors and owners use in order to denote a special type of housing. As mentioned above, this means that the apartment has no debts, restrictions and there are no registered people in it. Moreover, the owner does not need a clean apartment, the seller is only interested in receiving the money that will be earned during the sale.
The most popular case of net sales is the sale of living space, which was inherited by several people. Sellers are only interested in receiving their share of the inheritance.
Buying a clean apartment, you will be sure that you do not have to wait until the owners of the living space find themselves another suitable housing and move out. This moment greatly simplifies the deal.
Apartments in net sales have a drawback - they cost about 5% more than ordinary residential areas.
Net sale benefits
Housing for a net sale, as a rule, does not need to draw up any additional documents. The apartment is completely ready for purchase - there are no restrictions on it and there are no registered residents. These conditions allow you to complete the transaction within two to three days.
If you compare the purchase of an apartment for a net sale with another option, which is slightly cheaper, you can see that the second option can, in the end, become more expensive. Such a jump in prices may be associated with inflationary phenomena during the transaction, which can be extended for three months.
The speed of contract execution is the main advantage of a net sale. Free sale may interest the buyer in several cases:
- desire to quickly complete a deal: this will allow you to settle in a short time;
- if the buyer plans to take a mortgage: banks are more likely to give out loans for the purchase of apartments of this kind.
Some complications
It is no secret that any transaction can hide unexpected moments. Net sales are no exception to this rule. Here are examples of troubles that may arise when buying an apartment for a net sale.
- Illegal sale of real estate. This means that the apartment was purchased from scammers.
- Noisy neighbors or the presence of animals in the neighbors (for example, dogs).
- Defects in repair. For example, leak in pipes, mold or cracks on the walls.
- The presence of insects in the apartment (ants, bugs, and so on).
How to identify pitfalls?
First of all, you need to carefully inspect the entire apartment. It will not be superfluous if you talk with your neighbors and find out more detailed information about the purchased housing.
Having decided to buy an apartment for a net sale, you need to make sure that the sale of housing is really clean. Often sellers use the term "net sale" only to attract the attention of buyers to the apartment. It happens that the seller does not understand what a net sale of an apartment means. When buying an apartment, make sure that the housing is really ready for sale, no one is registered in it and the apartment is in a state that fully satisfies you.
A few tips for a homebuyer
In order not to get into a difficult situation when making a deal, you need to pay attention to all the details and listen to the advice of professionals. With special attention it is worth buying a second home. What does the net sale of an apartment in the secondary mean? This is a housing implementation that meets the requirements described below.
So, when buying a secondary apartment, consider the following points.
- Are there any persons in the apartment whose rights may be infringed? These persons include people with disabilities, children, and individuals who are registered with a psychologist. Also in this group of people are students who have left to study in another city, people who serve in the army or are in prison.
- How many times this apartment was sold. Frequent resale is a reason to beware.
- The reason for selling the apartment.
- The number of owners of the apartment. Ideal if he is alone. But there are situations when there are several owners, and they are in an unfriendly relationship. In this case, a dispute may arise between sellers, as a result, the sale will be delayed for an indefinite period.
To be sure of the quick conduct of a transaction for the free sale of an apartment, you need to order an extract from the USRN in Rosreestr.
In custody
Net or free sale is not a legal concept. This phrase arose in the process of real estate work. Net sales are subject to the following provisions:
- the apartment for sale is not populated;
- no one is registered in the apartment being sold;
- the seller of the apartment does not plan to purchase other housing with the proceeds.
Experts recommend taking the purchase of apartments for a net sale seriously. Before you buy an apartment, pay attention to all the nuances and pitfalls that are described in the article.