How to make a preliminary contract of sale of real estate

The conclusion of a preliminary contract of sale of real estate reduces the risks of non-compliance with agreements for both parties to the transaction. The agreement fixes the obligations of the buyer, sets the deadline for registration of documents, fixes the cost of the object, determines the order of settlements. This is necessary when a number of circumstances prevent the completion of the operation. For example, the documents for real estate are not ready or you need to take a Bank loan.

According to paragraph 5 of article 429 of the civil code, if one of the parties to the transaction refuses to fulfill its obligations, the counterparty may apply to the court to protect its rights. The statement of claim must be filed within six months from the date of non-fulfillment of the terms of the agreement.

Consider how to make a preliminary contract of sale of real estate-competently and simply.

Provide for everything

The preliminary contract of sale of real estate contains:  name of the parties (surnames, names, patronymics or names of legal entities of the parties to the transaction);  subject of the contract-an accurate and detailed description of the object for sale (address, area, number of rooms and other characteristics);  data on the document confirming the right of ownership and on the absence of prohibitions on alienation of the object;  the total cost of the apartment or house, indicated in the national currency;  settlement procedure: Deposit, advance payment, payment of taxes and fees, final settlement; term of execution of the main contract; other obligations of the parties, including guarantees and penalties for failure to comply with the terms of the contract; date of signature of the document.

Legal aspect

The conclusion of a preliminary contract of purchase and sale of housing does not become a 100% guarantee of subsequent receipt of housing. The preliminary contract of purchase and sale of real estate can be terminated:

by agreement of the parties, in the case when the property has been identified deficiencies hidden during the initial inspection, in the case of damage or destruction of the apartment or house as a result of fire, natural disaster.

There are many nuances that can prevent the buyer to become the owner of the object. This applies to some cases of acquisition of an apartment at the stage of construction of the house, possible incorrect registration of the document, the lack of consent of all owners of the apartment (spouses, parents), the presence of registered minor children. To minimize risks, you should trust the drafting of the text of the agreement and transaction support to professional lawyers.