Assistance in Purchasing Real Estate in Russia

Once all the documents are checked, the next step is the signing of the sale agreement. An important point to consider is the correctness of the contract. It must be drafted taking into account all the nuances and specifics of Russian law. What should you pay attention to when signing the contract? First of all, it should contain the full details of the parties, a description of the property, payment terms, and deadlines for the transfer of the property. It is also important to specify who will pay taxes related to the purchase. Some important contract terms may include the possibility of termination, penalties for non-fulfillment of obligations, or deadlines within which the transaction must be completed.

After the sale agreement is signed, the next step is property ownership registration. This is a mandatory procedure, without which the property will not be considered officially yours. Registration takes place at Rosreestr (the Federal Service for State Registration, Cadastre, and Cartography), and it may take from a few days to a few weeks, depending on the situation. It is important to remember that only after registration with Rosreestr does the buyer become the full owner of the property. Do not forget that you also need to pay a state fee during registration. This is an additional point to take care of in advance.

Foreigners who wish to buy property in Russia should consider several important factors. First, not all regions are open to foreigners for property purchases. For example, there may be restrictions in some border areas. It is also important to remember that if you are purchasing an apartment in a multi-apartment building, you may need permission to buy, especially if you do not plan to live in Russia permanently. This will complicate the process further.