Drawing up a purchase and sale agreement is not just a formality. It is a process that determines your financial security, legal protection and peace of mind after the transaction. In this article, we will tell you how to avoid risks and properly prepare for one of the most important transactions in your life — buying or selling real estate.
1. Verification of ownership: who owns the property?
Before signing the contract, make sure that the seller is the real owner of the property. It is important to request:
- A document of ownership
- An extract from the register of property rights
- Certificate of no outstanding utility bills or loans
Any restrictions or debts can create legal difficulties after the property has been re-registered.
2. Terms of the contract: specifics = protection
The contract must clearly and transparently spell out all the details:
- Sale price
- Term of transfer of the property
- Payment procedure and stages
- Terms regarding possible penalties or termination of the agreement
Careful wording is your shield in case of disputes or misunderstandings.
3. Legal formalities: notary and registry
The purchase and sale agreement must be:
- Notarised
- Registered in the State Register of Real Rights to Immovable Property
This is not just a formality — it is the legal confirmation of your new status as the owner.
4. Technical condition check: better to see than to regret
If possible, have the property inspected:
- Check that the actual area and layout correspond to the documents
- Assess the condition of communications, roof, foundation, etc.
Don't let a visually attractive apartment become a source of unexpected expenses.
5. Advance payment or deposit: don't confuse them!
An advance payment is a preliminary amount that does not guarantee the conclusion of a deal. A deposit is an official confirmation of the intention to conclude a contract, with legal consequences in case of refusal by one of the parties.
Before transferring funds, it is worth consulting with a lawyer — this is how you protect your interests.
The contract is your armour!
Negligence in drawing up a contract can be costly — not only financially, but also emotionally. Therefore, it is worth involving specialists, checking each point and paying attention to details.
Buying real estate is an investment in safety, comfort and the future. And may it be a pleasant one!
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