How to protect yourself while buying an apartment under construction?

Buying an apartment under construction is a cost-effective solution for those who can wait with moving in and want to save money by paying a lower price per square meter.

This kind of investment is often accompanied by a "bad reputation" that the same apartment will be sold to a larger number of buyers, or the final look of the apartment will not match the original plan or the building will never be completed.

Customers are more protected because of the new procedure

The risk of the so-called double purchase, a situation in which the same apartment will be sold to different buyers, is now impossible. If you certify the pre-contract, it is registered in the notary system "Libra" and therefore there is no way to sell the same apartment, which has been previously certified, more than once.

Also, in addition to notaries as guarantees, it is almost impossible to face the risk that buyers will be left without an apartment or end up with an apartment that looks completely different from what they expected. If they buy an apartment in a new building with a regular final building permit, there can be no exception in the appearance of the apartment because later that building will not pass the technical acceptance and will not be registered.

Choose a reliable intermediary

If you decide to buy an apartment in a new building before work has been completed these are the things you should pay attention to.

You must choose a reliable intermediary and with the help of a licensed City Expert real estate agent, who will check all the details of the purchase for you, you will be sure that you are buying a verified property with all the necessary documentation.

Ask about the investor

When you have chosen a mediator, and before you "catch the momentum", our recommendation is to research well about the investor. The investor should be a recognized and reliable person and City Expert cooperates exclusively with reputable and reliable investors who have many years of experience, more completed and sold projects and satisfied customers.

How to get a housing loan for an apartment under construction?

The loan buyer can reserve an apartment under construction, sign a pre-contract where 10% of the value of the apartment is given, and enter the loan procedure when the investor completes 80% of the construction. However, there are certain exceptions, and if the investor is a beneficiary of project financing or is supported by a certain bank, it may happen that at the very beginning of construction or after 20 percent of completed works, you manage to raise a loan.

This one differs from the classic housing loan because it is necessary to submit a valid building permit to the bank, which the investor has.

If you need help with lending, the Credit advisor is here to find the most favorable housing loan within 24 hours, as well as the most favorable cash loan for additional furnishing of the apartment under special conditions.