Formalities for buying a flat
Buying your own apartment is for many of us a dream come true, but also a very important decision that affects our lives and finances.
That is why it is worth to approach this investment in a responsible way and complete all the necessary formalities. So let's see what you have to remember when deciding to buy a flat.
Check the Land and Mortgage Register
The Land and Mortgage Register is a document in which you will find information about the legal status of the apartment you are interested in buying. It will tell you, for example, whether the property is not mortgaged or has other legal problems. Currently you can check the Land and Mortgage Register without leaving your home.
What documents must the owner have?
It is up to the landlord to collect the necessary documentation, but you, as the buyer, should check that all the necessary papers are available for your inspection. What kind of documents do they have to be? First of all, the confirmation that the apartment belongs to the seller - it can be a purchase agreement, an agreement with the developer, a donation agreement. In addition, the seller of an apartment must also provide evidence that the apartment has no tenants, no one is registered at the address and no arrears in rent payments. These certificates will significantly increase your security.
What about the mortgage?
If, like many other people who buy a flat, you are taking out a mortgage, you must make sure that you have the right documents with you. Banks usually require a certificate of employment and income, a ZUS certificate on the amount of contributions and a PIT 37 document for the last year. You may also need a bank statement.
Remember the taxes
If you buy a flat from the secondary market you have to take into account the civil law transaction tax. If the price of the apartment differs from the market value, it may happen that the tax office will commission a valuation. Remember also that there is a possibility of tax exemption if you buy them from a VAT payer.
The reception of the apartment - that is, finally on your own
If you are buying an apartment in a developer state, you can be sure of its state. However, when buying a secondary market apartment it is worth being vigilant. Carefully examine and describe the condition of the apartment. Arrange an agreement with the seller to draw up a delivery and acceptance report, write down counters and additional notes. If you notice irregularities that you have not seen before, don't be afraid to mention them.
Can I buy a flat with my own cash?
Of course, there is no obligation to take out a loan. Nevertheless, you must be aware that such a large investment may attract the interest of the bank and the Tax Office. If your income is documented, you have nothing to worry about, but if you pay for the purchase of an apartment that you have previously kept at home, you can expect an inspection by the Authority. However, if you can document the origin of the money, there is nothing to be afraid of.