Expert opinion: the most dangerous ways to pay for housing are named

Just a few years ago, cash was the main payment method. Buyers arrived with money in a bag and, in the best case, put it in a safe deposit box, and in the worst case, handed it over to the seller on the same day, before registration. The expert community has long discouraged such options as cash transfer or bank transfer on the day of the transaction. This is not prohibited, but in practice such stories are perceived by regulatory authorities as opaque. Such deals are much more likely to be contested and cause problems.

Checking the funds that the buyer brought with him is a paid servicesays the President of the Russian Guild of Realtors Artemy Shurygin. – After the transaction, the seller must leave with a large amount of cash, which is not very safe for him. Tracing the money trail in the event of litigation is not an easy task.

What absolutely cannot be done when calculating?

Expert Shurygin categorically advises against transferring money to the seller before the transaction is registered. If, nevertheless, payment takes place on the day of the transaction, you need to receive a handwritten receipt from the seller, executed in the presence of witnesses. When using a letter of credit or nominee account, you must keep the payment order and payment confirmations. If real estate is transferred by power of attorney, then the money must be transferred not to the authorized person, but directly to the seller.

Another mistake that is made when making payments is transferring money in favor of third parties,” adds Ekaterina Nikitina, vice-president of the Moscow Guild of Realtors, head of the “Pro Exchange” real estate agency. – For example, a real estate seller has obligations to other people or organizations that interfere with the sale of the property. Then he asks the buyer to pay them off against a future purchase, but you should not agree to such stories.

Transactions with a large number of mutual settlements may be suspicious. They raise many questions from regulatory authorities. Let’s say when real estate is purchased from a legal entity, but part of the funds goes to the individual’s account, conditionally, into the pocket of the general director. If in such transactions the underpriced property price is also specified in the contract, then the risks for the buyer increase many times over.

How to safely transfer money for housing?

It is safest if money is transferred from buyer to seller only in non-cash form. This can be done using letters of credit or secure settlement services offered by banks.

The main advantage when using a letter of credit and a nominal account is maximum transparency. One of the participants in the transaction is confident that the money is genuine and will definitely be credited to the account immediately after registering the transaction, the other participant is calm about the safety of the funds. The procedure itself takes no more than 30 minutes at the bank. And due to the fact that credit institutions offer various additional options to attract clients, it is possible to build a secure transaction structure without risks for the parties.

For example, some banks offer to open a letter of credit remotely, without visiting the office, and conduct alternative transactionsadds expert Shurygin. – A nominal account, coupled with electronic registration, makes it possible for the seller to receive funds for the transaction without visiting the bank again, since the bank independently requests documents from Rosreestr.

One payment through the secure transactions service or letter of credit today costs an average of 3 to 5 thousand rubles. If a complex transaction is carried out with several participants, then the amount of costs is multiplied by their number. If a foreigner is involved in the transaction, then non-cash payment of the entire amount to the last penny becomes a prerequisite.

You can secure funds when transferring money using a tool such as a notarized deposit– Nikitina adds. – Funds for the purchase of an object are placed in the notary’s account and frozen there for the period of registration. After the ownership is transferred to the buyer, the notary checks this fact and only after that opens the account and transfers the money to the seller.

source: Arguments and facts