Every year on December 3, Russia celebrates the professional holiday of all lawyers, regardless of their field of professional activity — Lawyer's Day! In connection with this date, we will draw your attention to an important topic: Legal verification of real estate: why it is needed and how it protects your rights.
Acquisition of real estate is a serious deal that requires a careful approach and legal support. One of the main stages of purchasing a home is the legal verification of real estate, which allows you to protect your property rights and avoid possible risks and troubles in the future.
What is a due diligence of real estate?
Due diligence is a comprehensive check of the legal purity of the property, which allows you to make sure that you are buying a house without any encumbrances and risks. It includes an analysis of title documents, sales history, encumbrances and other factors that may affect your possessory right.
What risks can a due diligence of real estate prevent?
1. Fraud prevention in the real estate market. A due diligence makes it possible to verify that the seller is the rightful owner of the property, which eliminates the possibility of fraud and the sale of property without the consent of the owner.
2. Detection of errors in the processing of documents. Checking right stating documents helps to identify errors and inaccuracies in documents that may affect your possessory right.
3. Identification of hidden owners and encumbrances. A due diligence allows you to determine the presence of hidden owners and encumbrances on the property that may affect your possessory right.
4. Minimizing the risks of further transaction challenging. Checking the real estate helps to avoid possible risks of further challenging the transaction and invalidating it.
5. Protection against loss of funds and unreliable transactions. A due diligence allows you to make sure that you are buying a house from the rightful owner without any hidden risks and encumbrances.
How is process of due diligence of real estate going?
A due diligence is a complex process that requires knowledge and experience in the field of real estate and legal practice. The verification process may include the following steps:
1. Analysis of right stating documents. Lawyers conduct a thorough analysis of right stating documents to ensure their authenticity and compliance with Russian laws.
2. Checking for encumbrances. Lawyers request an extract from the Unified Public Register of Real Property Titles and Transactions and analyze the presence of encumbrances on the property.
3. Establishment of the marital status of the owner. If necessary, lawyers help to obtain a notarized spouse's permission to sell common property.
4. Checking for hidden owners. Lawyers analyze the presence of hidden owners on the property.
5. Checking for debts and arrears. Lawyers analyze the presence of debts and arrears on utilities and other payments.
6. Additional examinations. In some cases, additional examinations may be required to verify the cleanliness of the housing title.
Why choose a legal check of real estate from the «Nevsky Prostor» agency?
Nevsky Prostor Agency is a team of professionals who have extensive experience in the field of real estate and legal practice. We offer a comprehensive approach to the legal verification of real estate, which includes a thorough analysis of all aspects of the legal purity of the property.
Our advantages:
- Extensive experience in real estate and legal practice
- Comprehensive approach to the legal verification of real estate
- Thorough analysis of all aspects of the legal purity of the property
- Operational excellence and responsibility
- Individual approach to each client
If you want to buy a house without risks and troubles, contact us for legal support. We guarantee the protection of your property rights and the complete legal purity of the property.
making a purchase and sale transaction, The Nevsky Prostor real estate agency, insures the title, i.e. the risk of loss of property, for all transactions, including non-mortgage ones in an insurance company. We have concluded a client agreement and our clients receive a pre-insurance examination and an insurance policy for a year as a GIFT.
Contact us and we will check the apartment for you so that you are 100% sure of a safe purchase of real estate:
• Tel: +7 (812) 325-38-38 (from 9-00 to 21-00 on weekdays; from 10-00 to 18-00 on weekends and public days)
• Address: Russia, 199406, Saint Petersburg, Nalichnaya Street, 22
• You can also ask questions to our specialists online
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