Checking an apartment before buying

Checking an apartment before buying

Checking an apartment before buying is an important step in order to avoid legal, technical and financial risks. Below are the main steps you should pay attention to.

1. Legal verification

• Ownership. Check the seller’s ownership documents, including a certificate of ownership or an extract from the real estate register.
• Check in the state register. Check the apartment in the register of real rights to real estate to make sure that there are no encumbrances (mortgages, arrests, litigation).
• Property history. Check how many times and by whom the apartment was resold to avoid problems with the previous owners.
• Registered persons. Make sure that there are no unauthorized persons registered in the apartment, as they retain the right to live even after the sale.
• Documents for redevelopment. If the apartment has been redeveloped, check whether it is officially registered and complies with current regulations.

2. Technical inspection of the apartment

• The state of communications. Check the water supply, sewerage, heating and electrical wiring. An outdated or damaged system may require expensive repairs.
• Condition of the apartment. Check the walls, ceiling, and floor for cracks, moisture, mold, and other damage.
• Insulation. Assessment of heat and sound insulation will help you find out about the comfort of living in the apartment and possible heating costs.
• Check the meters. Make sure that all meters (electricity, water, gas) are working and registered correctly.
• Check the ventilation. Assess the ventilation system, especially in the bathroom and kitchen, to avoid problems with air circulation.

3. Inspection of the house and territory

• Condition of the house. Find out what condition the house itself is in: floors, roof, entrances. It is also important to find out if any repairs or renovations are planned in the near future.
• Utility bills and HOA. Check who maintains the building (HOA or management company), what the utility bills are, and whether there are any debts.
• Infrastructure. Assess whether all the necessary facilities are nearby (schools, shops, transportation, hospitals).

4. Financial check

• The price of the apartment. Compare the cost of the apartment with market prices for similar properties in the area to avoid overpayments.
• Debts for utilities. Check if there are any debts for the apartment to the utilities, as they may be transferred to the new owner.
• Investment attractiveness. Assess whether the neighborhood has the potential to increase property values in the future.

5. Checking the purchase and sale agreement

• Analysis of the contract. Carefully analyze all the clauses of the purchase and sale agreement, including the price, payment terms, terms of transfer of ownership, and seller’s warranties.
• Notarization. The sale and purchase agreement must be notarized and registered in the State Register of Property Rights.

6. Legal support

In order to ensure the security of the transaction, it is recommended to contact the lawyers and engineers of GlobalBud Ukraine. We will help you to conduct a comprehensive inspection of the apartment, provide legal analysis of the contract and support during the transaction.