Methods of transferring money in a notarial transaction. Money transfer schemes when buying an apartment
Acquisition of living space is a transaction in which a large amount of money is involved. Therefore, it is very important that their transfer is properly recorded and excludes the likelihood of disagreements between counterparties in the future. In the presented article, we will tell you what methods of transferring finance exist with a detailed consideration of each of them and the possibility of determining the most profitable option.
○ Reasons for the suspension or cancellation of the sales transaction.
A purchase and sale transaction may be suspended or canceled in the following cases:
- Payment for the transferred property was not made or was not made in full.
- Recognition of the transaction as invalid:
- "one. The transaction is invalid on the grounds established by law, by virtue of its recognition as such by a court (voidable transaction) or regardless of such recognition (void transaction).
- 2. A claim to declare a voidable transaction invalid may be submitted by a party to the transaction or another person specified in the law.
- A contested transaction may be invalidated if it violates the rights or legally protected interests of the person challenging the transaction, including entailing unfavorable consequences for him.
- In cases where, in accordance with the law, a transaction is disputed in the interests of third parties, it may be invalidated if it violates the rights or legally protected interests of such third parties.
- The party, from the behavior of which its will to preserve the force of the transaction is evident, is not entitled to challenge the transaction on the basis of which this party knew or should have known when showing its will (Article 168 of the Civil Code of the Russian Federation) ”.
- The emergence of unforeseen (force majeure) circumstances. In this case, there is no fault for canceling the transaction.
If the transaction is suspended or canceled before the state registration of the transfer of ownership, this does not pose a big problem. The parties simply return to their original positions: the seller gets the apartment back, and the buyer gets the money.
If the reasons for the suspension or cancellation of the transaction arose after the registration procedures, the issue is resolved exclusively in court.
○ Applicable forms of payment.
All forms of settlement have their own advantages and disadvantages, the significance of which is determined by the participant in the transaction. Each of them will be discussed in detail below.
○ "From hand to hand".
Cash settlement involves the risk of future claims if not documented.
In addition, with such a choice, the question arises when exactly to pay, given that state registration property rights are carried out only 10 days after the transfer of the contract to the registering authority. Based on this, two calculation options are possible:
- Prepayment - transfer of money immediately after signing the agreement.
- Post-payment - after the registration of the ownership of the new home owner.
In each case, there are pitfalls for the parties to the transaction. In addition, a large amount of cash in cash is not only inconvenient to store and transfer, but also an excellent bait for robbers.
All these factors lead to the fact that cash is gradually being replaced by more modern payment methods.
✔ Mandatory conditions.
If the parties nevertheless chose cash, the requirement to record the fact of the transfer of money is mandatory. For this, 2 witnesses are invited, and a receipt is drawn up, which is signed by all those present. The receipt is written by the recipient of the money, who thereby confirms the receipt of payment for the apartment.
✔ Risk for the buyer.
The risk for the buyer arises if he transfers the money at the time of the transaction. Subsequently, various problems may arise: refusal to register rights, seizure of property, the emergence of new registered persons, etc. In all these cases, refunds can come with certain problems.
✔ The dubious advantage of this form of payment.
In addition to the risk of not becoming the owner of the purchased apartment, cash has other disadvantages. For example, such a transfer of money involves concealing the true amount of transactions from the state. In addition to the moral side of the issue, this may subsequently affect the possibility of obtaining tax deduction and the amount of compensation received.
○ Lease of a safe deposit box.
This is a reliable way of transferring money, in which each party can be sure that their rights are respected. Due to its reliability, this method is becoming more and more popular every year, despite certain financial costs associated with renting a cell.
- “The agreement for the storage of valuables in the bank may provide for their storage with the use of the depositor (client) or with the provision of an individual bank safe guarded by the bank (safe deposit box, isolated room in the bank).
- Under the agreement for storing valuables in an individual bank safe, the client is given the right to place valuables in the safe and remove them from the safe himself, for which he must be issued a key to the safe, a card that allows identifying the client, or another sign or document certifying the client's right to access safe and its contents.
- The terms of the agreement may provide for the client's right to work in the bank with valuables stored in an individual safe (clause 1 of article 922 of the Civil Code of the Russian Federation). "
✔ Participants in the process.
The following are involved in renting a safety deposit box:
- A seller who is empowered to withdraw money after meeting the conditions specified in the contract.
- A buyer (depositor) who transfers funds to the bank for safekeeping during the period of registration of ownership of the purchased housing.
- Bank (custodian) - accepts funds for safekeeping and bears responsibility not only for their safety, but also for the timely transfer to the person specified in the agreement.
✔ Advantages of the method.
The main advantage of this method of transferring funds is the inability of the parties to the transaction to appropriate money or an apartment for themselves.
Due to the fact that the money is kept by a third party, the possibility of their inappropriate use, violation of payment terms and falling into the hands of unauthorized persons is excluded.
Other benefits:
- The presence of an armed guard at the place of storage and minimal risk loss of money.
- The seller's ability to withdraw money at any time without agreement with the buyer (subject to the fulfillment of obligations under the contract).
- Removal of responsibility from the buyer for the storage of money, while, even with an unfavorable outcome of the transaction, he can return his money at any time.
- The amount that can be pledged into the cell is not limited, and the term of the lease can be extended.
✔ Conclusion of a lease agreement and payment of the required amount.
When renting a safe deposit box, an appropriate agreement is drawn up, according to which money is put into the safe. They can be allocated as a percentage to the stages of the transaction. For example, the seller can receive a certain amount after the conclusion of the contract and the remainder after the registration of ownership. This distribution is more reliable than the one-time transfer of the entire amount.
✔ Money counting and authentication.
In addition to safekeeping, the bank also provides services for verifying the authenticity of pledged finances and their settlement. It is important to take into account that the money, as a rule, is pledged by the parties together, and in case of a successful transaction, the seller alone takes it.
✔ Keys to the cell.
Taking into account the risk that arises when the key is kept by one of the parties, they are kept by the bank, as an uninterested party, during all stages of the transaction registration.
✔ Access to the cell of the buyer and the seller in case of success or rejection of the transaction.
After successful registration of ownership of the purchased housing, the key is handed over to the seller, who gains access to the cell and takes his money. And if the transaction for some reason did not take place, the buyer receives the key, who returns the pledged amount.
✔ Disadvantages of this method.
Despite the high level of reliability, this method also has disadvantages:
- In the agreement on the lease of a safe deposit box, the indication of the amount of money transferred for safekeeping is optional. Therefore, if any disagreement arises, this document cannot serve as the basis for a dispute.
- The Bank is not responsible for the authenticity of the submitted documents. It is only obligatory to verify the authenticity of the buyer's data with those indicated in the passport.
○ Letter of credit.
- “When making settlements under a letter of credit, a bank acting on behalf of the payer to open a letter of credit and in accordance with its instructions (issuing bank) undertakes to make payments to the recipient of funds or pay, accept or account for a bill of exchange, or authorize another bank (executing bank) to make payments the recipient of funds or pay, accept or post a bill of exchange.
- The issuing bank making payments to the recipient of funds or paying, accepting or accounting for a bill of exchange is subject to the rules on the executing bank (clause 1 of article 867 of the Civil Code of the Russian Federation). "
✔ The popularity of this form and its comparison with the previous one.
The choice of this settlement system by many is based on its high degree of reliability. As in the case of renting a cell, a third party is required here - a bank. It regulates the buyer's obligation to pay the agreed amount after the seller has provided the complete package of required documents. So the buyer has no way to cancel the deal unilaterally.
At the same time, the bank checks the correctness of the documents and their authenticity. Thus, he acts as a guarantor for each party to the transaction.
✔ Conclusion of an agreement and actions of the parties.
After the conclusion of the purchase and sale agreement, the payment procedure is as follows:
- The buyer enters into a corresponding agreement with the bank for 1-2 months.
- Based on the signed agreement, the bank opens a special bank account in the name of the client.
- The bank transfers money to it from the client's account after receiving the appropriate order from the owner.
- During the period specified in the contract (1-2 months), the buyer is not entitled to collect the invested amount.
- The parties submit documents for registration of ownership.
✔ Keys storage.
During the entire period of registration of ownership rights, an open account is closed for each of the parties to the transaction. Therefore, it is the bank that exercises control over it during this period.
✔ Receipt of money to the account of the seller or buyer.
After the procedure for registering ownership is completed, the seller must visit the bank with a list of documents certifying the success of the transaction. After the bank verifies them, it will transfer the money from the letter of credit to the seller's account.
If, for some reason, the transaction did not take place, and the buyer presented evidence of this, the bank transfers the money to his account, thus making a return of the invested amount.
✔ Pros and cons of this method.
Opening a letter of credit has many advantages:
- A non-cash payment method does not require renting a cell, receiving and depositing cash, counting them and verifying their authenticity.
- There is absolutely no risk of losing money, both for the seller and the buyer.
- The bank's responsibility for any unauthorized operation on an opened letter of credit account.
Moreover, this method has only two drawbacks:
- The need to collect a large number of documents (a complete list is established by the bank).
- Account maintenance costs.
Real estate transactions are always dealing with multimillion-dollar amounts. And on the market real estate there are many swindlers, swindlers and other "dishonest" people.
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The issue of the security of settlements cannot be treated irresponsibly - after all, it will depend on whether the transaction will be completed successfully or will one more victim fall into the piggy bank of the victims of the next cheaters?
At what point does it happen
One of the main issues in real estate transactions is the time when funds are transferred from one side to the other. Money can be transferred both before registration of the transaction in Rosreestr, and after, however, there are some nuances here.
So, for the seller, the most acceptable option is when the buyer pays the sale price even before the apartment changes its owner.
In addition, the seller insures himself against the risks of being deceived. After all, after the change of the owner, the “reverse” procedure can be carried out only through the court - if the transaction is declared invalid.
If the buyer appears to be in good faith, the moment of transfer of funds does not play, in fact, any role. Of course, there is a possibility that after receiving funds, the seller will refuse to continue the transaction. Fortunately, there are few such cases.
Thus, two small conclusions can be drawn:
- it is desirable that the transfer of money is carried out after the signing of the DCT, but before the state registration of property rights;
- if the buyer evades payment in every possible way before the state registration of property rights, there is a risk that this is a fraudster who is simply not going to give the money.
rules
Transfer rules Money per apartment depend on the market in which the residential property is purchased, as well as on some other conditions:
- If the transaction takes place on the primary real estate market, then the parties are the buyer and the developer (physical and entity respectively). Usually, settlements in this case are carried out by bank transfer, however, cash can also be deposited through the developer's cash desk. The method of transferring funds is chosen by the developer, and the buyer can only in rare cases influence this.
- For preschool education (contracts equity participation) since 2019, the legislation provides for an alternative settlement scheme - through escrow accounts. In the presented case, the money is also transferred by bank transfer, but not directly to the developer, but to a special current account.
- If the transaction is carried out on a secondary, it is generally accepted to pay in cash, but this is the least secure way.
To complete a successful trade without the risk of being cheated, it is better to use secure settlement methods, for example:
- through a safe deposit box in a bank;
- letter of credit;
- through a notary deposit.
How is the transfer of money when selling an apartment
Let's consider what methods exist, and which of them are the most acceptable and safe for both parties to the transaction.
Through a safe deposit box
The most popular method of transferring funds for a purchase is cash, but without directly transferring money “into the hands” of the seller, but using a special cell in the bank.
The procedure for renting and using a cell is maximally adapted for carrying out various transactions with real estate, including for multi-stage ones.
A safe deposit box is a small safe, comparable to a desk drawer, located in a special bank vault - a depository.
The credit structure provides services for renting a cell for an unlimited period. At the same time, the credit institution does not control what exactly the tenant will put in the cell.
The banking institution only provides security for the cell and control over access to it. Thus, complete confidentiality is guaranteed when transferring funds.
The safe deposit box tenant is usually the buyer of real estate. He also lays the money in the amount set by the seller in the safe.
The seller can withdraw funds only if the conditions specified in add. agreement to the rental agreement for a safe deposit box. The agreement is concluded between 3 parties - the buyer, the seller and the bank.
In an additional agreement, the parties can prescribe specific conditions for access to the cell for each person.
For example, the seller must be given specific terms and documents that must be presented to the bank to withdraw money from the safe. If in deadlines the apartment will not change its owner, the buyer will be able to take his money.
As a rule, the seller's passport and the sale and purchase agreement with the Rosreestr mark that the transaction has passed state registration serves as confirmation for the bank about the transfer of ownership.
The parties can also define additional conditions for the seller's access to the cell. For example, indicate an extract from the house book, which is obligatory for provision, confirming the absence of registered persons c.
Through a notary
The law, in particular, Art. 327 of the Civil Code of the Russian Federation, the possibility of debtors on monetary obligation deposit funds to the notary's deposit.
Based on part 1.1. of the specified article, the agreement between the creditor and the debtor may provide for the condition that the debtor (who is also the buyer of the apartment) is obliged to fulfill the obligation to pay the sale price only by depositing funds on a notary deposit.
Thus, in order to apply this method of settlement, the parties to the transaction need to indicate in the monetary policy that settlements will be made by means of a notary deposit.
How are payments made through a notary? The buyer of the apartment simply visits the notary at the place of the transaction and gives the money either in cash or through bank transfer.
The notary accepts the money and stores it until the lender (seller of the apartment) fulfills the conditions for state registration of the transaction.
A notary does not keep money in his office. Regardless of the way they were transferred by the buyer, they are in the notary's bank account.
Please note that the Civil Code of the Russian Federation allows the buyer to withdraw funds from the notary deposit at any time.
Thus, the parties to the contract in mandatory you need to specify a condition in the agreement on specific cases when the buyer can withdraw money from the notary deposit in order to avoid misunderstandings.
On the day of the deal
Usually settlement on the day of the transaction is a cash settlement method. However, it is recommended to use this “old-fashioned” method only in extreme cases and with 100% confidence in the integrity of the counterparty.
Cash payments are quite common if the transaction is carried out, for example, between close relatives or friends.
Cash risks:
- the need to transport a large amount of money from place to place;
- deception and fraud in the counting of banknotes;
- transfer of counterfeit banknotes.
From account to account
The parties to the process can use another, but less popular method (compared to a safe deposit box) - a letter of credit.
A letter of credit means a service provided by a credit institution to transfer funds from the buyer's account to the seller's account upon presentation by the seller of documents confirming the transaction.
A safe deposit box and a letter of credit are almost identical methods of transferring money, with one exception. A letter of credit is a non-cash payment, and a safe deposit box is cash.
Mortgage
In cases where a potential buyer takes out a mortgage to purchase living quarters, the correctness and legality of settlements is controlled by the creditor bank, because it is a priori interested in the safety of borrowed funds.
Depending on the specific bank, settlements can be carried out either through a safe deposit box or through a letter of credit.
If settlements are made through a safe deposit box, the creditor bank may request an additional package of documentation that provides the seller with access to the safe.
Such documents can be:
- an extract from the Unified State Register, confirming the transfer of ownership;
- receipt of money;
- certificate from the Regpalata on the acceptance of a package of documents for state registration, etc.
Major mistakes
The main mistakes that the parties make when carrying out transactions with the transfer of funds when buying and selling real estate:
- Choosing the wrong way to transfer money.
Real estate transactions require careful documenting... But it is equally important to think over the payment procedure. What are the ways in 2019 to transfer money when selling an apartment?
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People are already accustomed to the fact that when selling real estate, a correct purchase and sale agreement should be drawn up. Its content is thought out in detail, every nuance is taken into account.
But when it comes to settlements on a trade, most of the situations are standard. The money is given before or after the conclusion of the contract. And this very moment may turn out to be the most significant problem.
How does the process of transferring money go when selling an apartment in 2019 and how not to face fraud?
General points
The transfer of money when selling an apartment and the choice of settlement options depend on the type of market in which the transaction is being made.
When an apartment is sold on the primary market, an individual represented by the buyer and a legal entity represented by the developer take part in the transaction.
The procedure for making settlements is determined by the developer. Money is transferred from the buyer's account on the basis of an invoice issued by the developer company, in accordance with the terms of the contract.
If the purchase of an apartment is carried out through participation in, then it is used Alternative option provided by law from 2019.
The protection of equity holders' money is ensured by transferring funds through escrow accounts.
That is, it applies cashless form settlements, but the money goes to a special bank account, and not directly to the developer.
Much more difficult situation with payment in the secondary market. Here, cash payments are somehow more accepted.
In fact, the buyer can transfer the “suitcase of money” to the seller, and the latter can also assert that there was no transfer.
The risks are quite high. They increase when several sellers participate in the transaction at once, when the transferred funds are immediately distributed among them.
There are risks for secondary sellers as well. For example, an agreement has been reached to receive money after signing and transferring an apartment.
And so the seller fulfilled his obligations, but there was still no money. Of course, he has the right to terminate the contract, but this does not mean that the apartment will be returned to him.
To return the property, you will need to go to court and spend a lot of time on litigation.
How to solve the problem with payment for real estate correctly and how to transfer money when buying / selling an apartment?
Basic concepts
The sale of an apartment involves the transfer of ownership on the terms of the concluded agreement. This agreement includes quite a few sections.
Their total number depends only on the wishes of the parties. But in any contract there must be a clause on the price.
The contract price is the amount at which the seller has valued the apartment and what he intends to receive from the buyer in exchange for the transferred ownership.
The clause on the transfer of funds includes:
- date of transfer of funds;
- method of transfer or transfer;
- other significant points.
The participants in the transaction have the right to independently choose the payment option and set the moment of transfer of funds.
In this case, the person acting as the seller has the right to receive payment for the apartment. This is the owner of the apartment or his legal representative.
The procedure for concluding a transaction
Conventionally, a deal for the sale of an apartment can be divided into five stages:
As for the transfer of money for an apartment, it is logical to assume that the amount of money should be exchanged for ownership. And this is where the main problem arises.
If the buyer transfers the money before receiving the apartment, then in the future there may be difficulties with the actual.
You can wait months for the owner to vacate the house. When the seller transfers the apartment along with the title to it before receiving the money, there is a risk of not getting paid at all.
And the cases when one of the parties receives what is owed under the transaction and subsequently refuses to admit this fact are also not uncommon.
Thus, the correct procedure for transferring money when selling an apartment is important for both parties to an apartment alienation transaction. And here the participants have several options.
Applicable standards
The procedure for selling real estate is regulated. so it is called "Purchase and Sale". Section 7 of this chapter deals with the sale of real estate.
Each separate article of the paragraph affects certain aspects of the transaction - the contract, its form, state registration, definition of the subject, and so on.
It is worth noting that you should not transfer money before registering property rights. Often, fraudsters use just such a scheme when they take money before contacting Rosreestr.
During the registration process, sometimes nuances are revealed that do not allow registering ownership (for example, the seller is in fact not authorized to conduct a transaction).
But it is not always possible to return the money already transferred. And in the absence of proper evidence, it is completely impossible to prove that the money was transferred.
On the other hand, the seller does not want to take risks either. He wants to be sure that he will really get the money for the apartment. How is money transferred in transactions between individuals?
Most often, money is transferred in cash. And often it is used as evidence of the fact of transfer and acceptance of funds.
This is a fairly well-known tool and, of course, it has a place to be. But in modern world there are also safer ways to transfer money to the seller.
Calculation
In resale transactions, there are three safest ways to transfer money. It:
- safe deposit box;
- engaging a notary;
- letter of credit.
The cell is used when transferring cash. The notary can help with settlements, both in cash and by bank transfer. The letter of credit assumes exclusively non-cash payment.
Each of these methods has its own advantages. But at the same time, it is necessary to know the subtleties of applying each method.
If the chosen option is applied correctly, then the probable risks associated with the transfer of money are reduced to almost zero.
Through a safe deposit box
Safe box rental in a bank in Lately more and more gains popularity in the calculations in the real estate market. A safe deposit box is a safe in a special bank vault (depository).
The Bank leases such a safe for a period of any duration in order to preserve valuables. At the same time, the bank does not check what will be saved in the cell.
The main banking task is to ensure the protection of the safe and control access to it. Due to this, the transfer of money through the bank is carried out in a strictly confidential manner.
The buyer becomes the tenant of the cell. He puts in the safe the amount to be transferred to the seller.
The latter can receive money only in accordance with the terms of an additional agreement concluded between the seller, the buyer and the bank.
In the agreement being drawn up, the conditions for access to the cell are prescribed - a specific period and documents that the seller must provide.
The essence of this method is that the seller documents the fact to a specific buyer.
In return, he gets the opportunity to withdraw money from the cell. If the seller does not show up within the established time frame, then the buyer can take the money himself.
In such calculations, cash is recalculated and checked at the bank when they are put in the safe, in the presence of the seller.
In this case, the key to the safe can remain with the buyer until receipt of funds after state registration or immediately transferred to the seller.
Important! The agreement may include a condition for sharing, regardless of other terms. For example, the parties abandoned the deal.
In order not to wait for the expiration of the due period, the participants in the proposed transaction can jointly open the safe, and the buyer will take his money back.
For cash
The transfer of cash can be carried out without involving a bank. For example, a buyer transfers funds and receives a receipt in return.
This becomes evidence of the transfer of funds and, if necessary, such a document can even be used in court proceedings.
But at the same time, you need to draw up a receipt correctly. The seller writes it, preferably completely by hand, without blots and strikethroughs, and then certifies with his signature corresponding to the passport model.
Safe transfer of cash is ensured by attracting a deposit of a notary. The money is deposited in a special notary account before the transaction.
Once the buyer has registered the ownership, the money is transferred to the seller.
The conditions for receiving money are also stipulated in the agreement, as in the case of a safe deposit box. The notary's deposit can also be applied for bank transfer payments.
Other options
Among other options, a letter of credit should be mentioned. This is a bank service, or rather an obligation, to realize, on behalf of the client, a payment from the account in favor of the specified recipient upon presentation of a certain list of documents.
In general, the scheme is the same as for a safe deposit box. The difference is that a non-cash form of payment is used.
The letter of credit can have different expressions, but when selling an apartment, a covered, irrevocable letter of credit is often used.
Covered means that the buyer's bank (issuing bank) actually transfers the due amount of money to the seller's bank (executing bank).
Irrevocability implies that the issuing bank cannot recall the money back without good reason.
Transmission scheme
How does the transfer of money go from buyer to seller? The money transfer scheme for the sale of an apartment entirely depends on the method chosen by the parties:
Cash from hand to hand | the buyer transfers the money to the seller; the seller recounts the amount received (preferably checks the bills for authenticity) and writes a receipt for receipt; the receipt is forwarded to the buyer |
Cash through a safe deposit box | the parties to the transaction draw up an agreement with the terms of transfer and access; in the presence of all participants, the money is checked, recalculated and put into the cell; after fulfilling his obligations, the seller presents the agreed documents and receives money |
Through a notary deposit | an additional agreement is drawn up to the agreement on the conditions for the receipt and transfer of money; money is credited to the notary's account (in cash or by transfer from the account); the seller fulfills the terms of the agreement and provides the necessary evidence; the notary issues cash or transfers money to the seller's account |
By letter of credit | the buyer enters into a letter of credit agreement with the issuing bank; are issued Required documents(on the terms of payment, on supporting documents, etc.); money is transferred to the executing bank (seller's bank); the seller fulfills the obligations (transfers the apartment); the buyer registers ownership; the seller applies to his bank to receive funds |
At what point does it happen
The moment when the money is transferred is always specified in the contract for the sale and purchase of an apartment. As a rule, this is provided for in the paragraph on the "Procedure for Settlements".
In theory, the parties can independently determine the moment of transfer of funds. So when transferring money in cash, settlement can be carried out:
Before signing the contract and state registration of property rights | In this case, a situation is formed under which the contract is not signed, but the money is transferred. As a result, both money and rights to property belong to one person. Significant risk for the buyer |
After signing the contract and state registration of the acquired right | Here, the circumstances are exactly the opposite. Both the money and the right to the apartment are with the buyer. At the same time, the seller is at risk |
After signing the contract on the day of the transaction, but before state registration of the right | The seller retains the rights to the apartment until the transfer of ownership is registered. Of course, the risk remains for the buyer. But at the same time, he has evidence in the form of a concluded contract and a receipt. If necessary, you can involve witnesses in the transfer of money |
And yet, no matter at what moment cash is transferred when selling an apartment, the operation remains risky. Another thing is when a bank safe, notary deposit or letter of credit is used.
Video: 7 mistakes when transferring money for an apartment
In this case, the moment of transfer itself is not important. You can put money on preservation absolutely at any time. All the same, the seller will receive them only after the fulfillment of the previously agreed conditions.
Possible additional costs
If there are so many safe ways of transferring money when buying and selling, then the question naturally arises as to why cash still has not become obsolete from hand to hand.
This is explained by the desire to avoid additional costs... Any of the listed secure methods of transferring money assumes such by default.
If you use a safe deposit box, you will need to pay for the rental of the safe. In this case, the value rent depends both on the storage period and on the size of the cell (amount limit).
The cost of renting a cell varies between 1-3 thousand rubles per month. In addition, 2-5 thousand rubles will need to be paid for completing an additional agreement.
The customer may also be charged an insurance premium for the locker and a deposit for the key in case of loss. When using a notary's deposit, you will need to pay about 1,500 rubles.
But this is provided that the service is provided as an additional service when drawing up a purchase and sale agreement with a notary.
But it should be taken into account that banks charge a commission for transferring funds from one account to another. In this case, it turns out that the commission is charged twice.
In addition, an additional commission is charged when cashing out funds. When a letter of credit is applied, the cost banking services increases.
The number of associated costs is also increasing - opening an account by a buyer and a seller, commissions for transfers between banks, commissions for cashing out funds.
In addition, not so many banks provide a letter of credit, and due to its rare use, many banks simply do not have the skill to use it.
When buying an apartment, money is transferred after checking the documents, carefully studying all aspects related to the apartment, analyzing all kinds of risks, etc. This can be done in many ways with your own terms, and they are chosen at the time of making an advance payment.
Depository (bank) safe deposit box
One of the most common ways to transfer money for the purchase of an apartment is the so-called safe deposit box. The bank acts as an intermediary in this matter, to whom the buyer hands over the money, and the seller receives them after fulfilling all the obligations for the sale of the apartment. If the transaction is successful, the bank allows the seller to withdraw the money, if not, the amount is returned to the buyer. At the time of drawing up the cell lease agreement, the conditions for the seller's access to it are prescribed in the supplementary agreement to the cell lease agreement. This allows you to transfer money as safely as possible and minimize the likelihood of fraud.
The conditions for access to the safe deposit box in the supplementary agreement can be very different, up to: "The seller must come for money in felt boots and a fur coat in July." This example emphasizes the fact that the conditions for the terms, amount, etc. regarding the transaction can be absolutely any. Therefore, the time when the seller can collect money for the sale of an apartment is clearly indicated in the supplementary agreement. Often, the conditions prescribe that the seller can receive money after a mark in the purchase and sale agreement has been made that the registration of ownership was successful and the keys to the apartment are transferred to the buyer. This will be the time when you need to give the amount. In this case, instead of the buyer, the bank will do it through a cell (the seller himself will return to the bank and, having provided the documents, will take his legal money for the sale of the apartment).
Additionally, you can specify that the seller must provide an extract from the house book stating that the apartment does not live and there are no other owners, except for the buyer registered there. For this purpose, you can request copies of the passports of the former owners with confirmation of the new place of registration.
This method contains some disadvantages:
- Cost. Cell rental is not the cheapest service. It all depends on the terms of the lease.
- Time and effort. It is necessary to additionally prepare legally, rent a cell, come up with and register an additional agreement, prepare documents and certify their authenticity (which the bank does not do), etc.
- Prepayment, which will still have to be provided to the seller.
Thus, when exactly to give money for the sale of an apartment is a subject of negotiations and conditions in the additional agreement for the lease of the cell.
This method of transferring money is described in more detail in the video presented, and it also explains why this method is considered the most reliable.
Other ways of transferring money
Another, but much less popular, method of transferring money is cash, that is, handing over the amount. The timing of the transfer of money is set between the seller and the buyer at a personal meeting. But given the minimal security of this type of transaction, almost no one uses this method. Moreover, transferring an amount of several million in cash is not the best idea and is far from the most convenient.
You can pay for the purchase of an apartment through a notary(will act as an intermediary in mutual settlements), since since 2015, notaries have legal rights to provide services as an intermediary. Moreover, if the sales contract is signed by the same notary. The money is transferred to the seller after the provision of the previously mentioned documents confirming the successful completion of the transaction.
Letter of credit is a method of transferring money, but it is several times less popular than the aforementioned safe deposit box. And the cost of this process is much, several times, more expensive (this method is more suitable for organizations than for individuals). The bottom line is that the buyer immediately deposits money into the seller's account, but the latter will be able to pick up the funds only after providing documentation certifying the right to the property (unless otherwise specified in the terms of the contract).
Also, the method of transferring money is mortgage... To do this, you need to compose additional agreement at the lending bank. The seller will be able to receive money for the transaction after the end of the process of selling the apartment and the final registration of the property to the buyer.
Summing up the above, the time when they give money for the purchase of an apartment is chosen at individually... Usually, the parties come to an agreement after what moment or the provision of which specific documents (extract of the USRR, submission of a package of documents for registration, etc.) money needs to be transferred.
Buying a home involves many options for calculating, one of the most popular is the transfer of cash from the buyer to the seller without intermediaries. Despite the convenience, this method carries many risks that can be avoided by taking security measures depending on the specific circumstances of the transaction.
A feature of buying an apartment for cash is the absence of intermediaries in the form credit institutions providing or. General order the actions of the parties in this type of transaction are as follows:
- The buyer chooses an apartment and negotiates with the seller about.
- The parties draw up, designate the date and place of the transaction.
- On the appointed day, cash is transferred simultaneously with the signing of the contract.
- The parties apply to Rosreestr with an application for registration of the transition.
In most cases, the transfer of money and the signing of the contract takes place simultaneously with the acceptance of the keys to the apartment. At the time of buying secondary housing The most common option is to conclude a deal on the apartment being sold: after signing, the buyer transfers the money to the seller and agrees on the date for the release of the apartment.
Money transfer options
The main methods of transferring cash when buying a home include the following:
- transfer of the amount in rubles from hand to hand in the apartment with one of the parties;
- transfer of money in foreign currency;
- calculation in a special office;
- settlement in the office of a realtor or an intermediary law firm;
- transfer of money in several stages (in installments).
Many notary offices provide mediation services for the transfer of cash. In this case, the transaction takes place in a special guarded office with video surveillance in the presence of at least two witnesses, which reduces the likelihood.
The office employees can provide equipment for checking money for authenticity and certify the voluntary participation of the parties in the transaction.
The transfer of money in installments is analogous and assumes that the buyer at the stage of concluding the transaction transfers to the seller only a part of the purchase amount ( an initial fee), and transfers the remaining amount over several months or years in periodic installments. In this case, the payment periods are fixed in, indicating the amount of payments and the buyer's responsibility for failure to comply with the terms of the installment plan.
The installment plan is for both parties, since the seller runs the risk of facing the termination of payments from the seller, and the buyer - with the likelihood of canceling the registration of the apartment if financial difficulties, since the money already paid will have to be returned through the court.
Potential risks and security measures
Cash settlement carries the following risks:
- high probability of robbery on the way to the place of the transaction;
- possible fraud with counterfeit money;
- mistakes when counting money;
- to attract attention tax authorities.
Transportation in the city of large sums of money carries a high risk of loss of funds, given the high crime rate in cities. In addition to accidental robbery, there is a risk of being subjected to a planned attack by a group of persons who received information about the transaction from a counterparty or other persons.
To protect yourself, you should not move with the amount of money alone or agree to transfer money in suspicious or deserted places, it is also important not to inform unauthorized persons about the date and purpose of the meeting.You can avoid receiving counterfeit money by checking it at a bank or at a notary, it is also important to know the main features of the authenticity of large bills, especially when making payments in foreign currency.
One of the significant risks for the buyer in cash is the difficulty in proving the transfer of money - the seller may refuse to participate in the registration of the transaction and declare that he did not receive money from the seller. This can be avoided by obtaining from the seller a receipt for accepting funds, which should contain the following information:
- the transferred amount in words;
- date of transfer;
- full name and passport data of the seller and the buyer;
- contact details of the parties;
- signatures of witnesses indicating their passport data.
There must be at least two witnesses.
The seller must not only sign the receipt, but also indicate his initials with his own hand.
Alienation of real estate without information about the transferred amount of money in banks can attract the attention of the tax authorities, since cash transactions are often used to evade the sale by reducing the purchase amount in the contract when the market value of the apartment is actually transferred to the seller.
Additional checks tax service can lead to the suspension of registration, which will slow down the transfer of rights, so you should not artificially underestimate the amount in the agreement.
Often, a seller located in another city offers to transfer money using various payment services. With this method, it can be difficult or impossible to prove the payment, in addition, there is a risk of irrecoverable loss of money in case of an error in specifying the details or in case of theft of funds by cybercriminals, therefore it is necessary to insist on a personal meeting to transfer the money.It is also possible to avoid risks when paying for a home purchase in cash by careful encumbrances and careful drafting of the text of the agreement, indicating in it measures to hold the seller accountable for not participating in the registration of the purchase after receiving the money.
You should choose a cash method of payment only if there is a trusting relationship between the seller and the buyer, as well as while observing security measures when choosing a room for payment and drawing up a contract. Participation in the transaction of a notary and witnesses will help to avoid risks.