FAQ

   question:

What is the agency’s commission for selling (renting) an apartment?

   answer:

On average, the agency's commission for selling an apartment varies from 3 to 6% in accordance with the standards of the St Petersburg Association of Realtors. In case of long-term rent, the commission is 80-100% of the monthly rent and in case of short-term rent - 30-50% of the total rental.

   question:

I have an apartment. Can I use it for a down payment?

   answer:

This option is used in more than 50% of property deals on the city mortgage program. The procedure is very simple: you have two transactions at the same time: the first one is the sale of the property you have and the second one is the purchase of housing using a mortgage. This is the so-called counter or offset transaction.

   question:

Why does a mortgage agreement require insurance?

   answer:

Usually getting a mortgage loan requires two types of insurance: life and disability insurance of a borrower (you) and collateral protection insurance (e.g., insurance of the apartment you buy). The amount of insurance coverage (this is the amount of money that the insurance company will pay in case of the insured event) should be not less than the loan itself plus 10% of this sum. On average, a borrower is to pay less than 1% (0.6-0.8%) of the insurance coverage (and the loan as well) for both types of insurance annually. And the beneficiary (the recipient of insurance indemnity) is the bank. It means that when an insured event occurs, the insurance company will pay the bank everything you couldn't pay.