Offsetting an apartment for a new building

Not every person has the financial capabilities that can allow him to purchase his own home in a new building. In such a situation, the only right decision would be to buy an apartment on credit or participate in a new mortgage program. Today, many financial institutions and large construction companies offer various programs to individuals, but special attention should be paid to mortgages against housing. Let's find out more about what a Housing Mortgage is, how and where to apply for it.

Schemes for purchasing an apartment with a mortgage using existing housing

Before choosing one of the proposed options for purchasing a new home to offset the old one, individuals need to carefully study all the schemes. It is necessary to calculate which option will be less expensive and risky in order to eliminate the possibility of problems arising in the future.

Installment plan with self-sale

The buyer finds a developer, studies all the options he offers, and then enters into an agreement. He will need to pay either the entire amount at once for a finished apartment in a new building, or make a down payment for housing under construction.

The principle of this scheme is that the client independently sells the property he owns. Naturally, the proceeds will not be enough for him to pay off the developer. That is why he receives the missing amount from a financial institution.

Mortgage secured

This traditional scheme for purchasing a home from a developer involves several stages:

1. An individual chooses for cooperation a bank that offers mortgage programs on the most favorable terms.
2. An applicant for a loan goes to a financial institution and receives a list of documents that he needs to provide to sign the agreement.
3. If the client manages to collect the necessary papers, and also has personal property that he can pledge, then the bank draws up a mortgage agreement and obtains consent to transfer the borrowed funds.
4. An agreement is signed with the developer.
5. The bank transfers money for an apartment in a new building.
6. As soon as the property is put into operation, the buyer will be able to make repairs to the apartment and move into it.
7. For a certain number of years, he will pay the bank monthly payments until the debt is fully repaid. It is worth noting that accrued interest and other banking costs are initially written off from payments received from the borrower, and lastly the mortgage loan body is reduced. If possible, the client can close his loan ahead of schedule, paying off the remaining amount of debt in one payment. In this case, the bank is obliged to recalculate.

Attention! While the borrower's property is in bank collateral, he will not be able to carry out any legal actions with it. Today, only some banks offer Russian citizens a mortgage for an apartment to offset their existing housing. We discussed mortgages secured by real estate in more detail earlier.

The developer buys the apartment

Large construction companies have the means to purchase secondary housing from their clients at a discount. In parallel, the former owners of the purchased properties are being issued claims for apartments in new buildings. It is worth noting that the process of assessing such housing in each company is carried out differently. But in most cases, with urgent redemption, the discount size varies in the range from 10.0% to 20.0%. In the future, the developer independently sells the purchased objects, thus returning the funds spent with a fairly decent markup.

Apartment reservation and sale

An individual contacts a company acting as a developer, selects a property and signs an agreement for the sale of secondary housing owned by him. The implementation of this property is usually carried out by a real estate office that works closely with the developer. Also, these functions can be entrusted to a staff member who is a specialist in these issues.

It is extremely important to ensure that secondary real estate is properly valued. If an individual doubts the estimated value announced by the developer’s representative, he may insist on engaging an outside professional.

It is worth noting that, according to the terms of the agreement signed with the developer, the owner of the property must sell it within a clearly defined time frame. As a rule, such contracts are concluded for no more than three months, since this is the time period that experts consider optimal for selling an apartment.

When an agreement is signed with the developer, an apartment in a new building is booked for the same period of time, which can be at any stage of construction or has already been put into operation. If a person cannot sell a secondary home, then his reservation will be burned and it will be transferred to other people. In the case where it was possible to sell the apartment, a new agreement is drawn up with the developer for the purchase of an object in a new building. In this case, the price fixed by the reservation will apply (it cannot be changed, even if the developer has good reasons).

Accommodation in an apartment before delivery of the house

If the choice is made in favor of this transaction formalization scheme, then the parties will have to enter into three types of agreement:

1. The first contract is drawn up for the purchase of an apartment in a new building from the developer. It is indicated that the developer gives the client a deferment for making payment until the property is put into operation.
2. The second agreement is drawn up for the sale of secondary housing that is personally owned by the client. It stipulates all aspects related to the legal and physical release of residential premises. All deadlines must fully correspond to the dates specified in the first document.
3. The third agreement is drawn up for the rental of secondary housing for the period that will be given by the developer to the client for his legal and physical release. If the parties do not want to draw up a separate agreement, then they can write down all aspects related to the lease in a second document.

The scheme provides the following nuances:

1. The client chooses an apartment in a new building and signs a purchase agreement with the developer.
2. At the same time, he transfers his secondary real estate to the developer under a sales agreement.
3. The developer allows the client to live in his old apartment on a rental basis until the facility under construction is put into operation.

Reliable developers of St. Petersburg who offer apartments as a credit

"LSR Group"

The well-known large developer LSR Group offers apartments for credit in new buildings of comfort and business class. Housing is purchased under a purchase and sale or equity participation agreement (DDU). Services for selling old homes are free.

The list of the company's properties being commissioned in the next year or two is wide:

“Tsvetnoy Gorod” in Polustrovo - all apartments are offered with fine finishing according to new standards on Oktyabrskaya Embankment - an entire microdistrict with its own infrastructure and excellent location in a habitable bedroom next to - two comfort-class houses in Kupchino, being built in convenient proximity to two stations at once metro.

NeoPark - business class apartments next to the picturesque Pulkovo Park.

An experienced and respectable company, RBI is engaged in the construction of high-class housing. There is a special “Favorable Credit” program for buyers under the following conditions:

This is important to know: Rules and conditions for obtaining a mortgage to purchase an apartment

the contract is concluded for 180 or 365 days. During this time, the old apartment is sold, the price of new housing is fixed.

The purchase is made on an interest-free installment plan. The amount is paid in two installments: the down payment is 15% of the cost of the purchased property, the balance is after the sale of the old apartment.

Can be combined with a mortgage from Sberbank PJSC.

Under the “Benefit Credit” program, for example, this three ruble ruble is offered in the Biography residential complex on the Petrogradskaya side:

Settlement scheme pros and cons

In theory, the system of offset for the purchased apartment in a new building provides for the quick sale by the buyer of his own home, the money for which is used to pay for the purchase. In practice, this method of payment is used extremely rarely, since most citizens who are ready to sign a contract with the developer do not have their own real estate.

The advantages of the mutual offset system include the ability to quickly get money to buy a new home and not overpay mortgage interest to banks. As for the minuses, one important nuance should be noted here. The seller of secondary housing and at the same time the buyer of a property in a new building must, before the developers put the house into operation, resolve the issue of not only temporary residence, but also registration. It should be borne in mind that in the construction industry deadlines very often move forward, which is why it may be necessary to increase the period of stay in rented housing.

Apartment for credit: old for new

Compensation of an old apartment for an apartment in a new building under the “trade-in” scheme in St. Petersburg. We present “apartment credit” programs from the following developers: LSR, KVS, RosStroyInvest, Severny Gorod, Setl City, Lenstroytrest, Otdelstroy, Arsenal-Real Estate.

The scheme for concluding transactions, called “trade-in”, can no longer be called new for the Russian market, but it has not yet become widespread in the field of real estate trading. The principle of this scheme in action can be described simply - “in exchange for the purchase of a new thing, an old one is given back.”

This form of exchange, of course, shortens the transaction time and allows the buyer to quickly get a new thing without wasting time searching for buyers, completing the transaction and transferring money: during this time, the money received for the old apartment will already depreciate a little, and the new apartment will rise in price. But if with the automobile market everything is more or less clear and quite simple, then the “trade-in” scheme in the Russian real estate market has acquired a number of features and does not always become the best option for the buyer.

This is important to know: Registration of purchasing an apartment through the MFC

In the case of a trade-in transaction, the realtor instantly buys the owner’s old apartment, providing housing in a new building in return, that is, he carries out an offset. This is the main difference between this type of transaction and the alternative purchase and sale with the purchase of an old residential space, when a real estate agency simply puts the proposed lot up for free sale through its channels, waiting until a buyer is found.

The shortest possible time frame can be called the main feature of the “trade-in” transaction - having given up the old apartment to pay part of the cost of the new one, buyers can immediately move to a new place of residence, the transaction usually takes literally two to three days, which is spent on checking the title documents and execution of contracts.

Specialized real estate agencies put forward a number of requirements for apartments that take part in trade-in transactions:

• the old apartment must be located in the same region where you want to buy a new apartment;
• the apartment must be owned by the seller and not leased, albeit long-term; title documents are checked by specialists carefully and scrupulously;
• real estate agencies take into account only apartments; a room in a family hostel, communal apartment or the share of one person in the total living space cannot take part in transactions under the “trade-in” scheme;
• There are special requirements for the “cleanliness” of the apartment; it is highly undesirable for one of the owners of the property to be a minor, and permission from the guardianship and trusteeship council is required to conclude a transaction. In this case, the real estate agency will most likely refuse the seller.

Advantages of exchanging an apartment under the trade-in scheme

The main advantage of exchanging old housing for a new one according to this scheme can be called urgency and efficiency. This is the fastest way to move to a new apartment or country cottage without waiting for the sale of your old living space, obtaining a mortgage loan, and so on.

In addition, if a trade-in transaction is concluded, the real estate agency takes on all the worries and hassles associated with paperwork and legal support for the exchange of living space. The seller of the apartment will not have to spend money on advertising, publishing advertisements, collecting documents, spending money on conducting an expert assessment, and so on.

Disadvantages of exchanging an old apartment for a new one

Despite its undeniable advantages, the “offset” housing exchange scheme also has a number of disadvantages, which determine its low popularity in the real estate market. The main disadvantages of such an exchange include:

• lack of much choice. As a rule, a certain real estate agency or a specific developer offers only apartments in their own residential complex for trade-in transactions, so the opportunity to choose the area of ​​residence or the location of the building is not always provided;
• the price of an old apartment participating in a trade-in exchange will in any case be lower than if it were sold on the free market. All developers and development agencies purchase apartments at a discount, which can reach 20-25% of the market price, which, taking into account prices in the capital, is fraught with a loss of 1-1.5 million rubles from the cost of housing. Funds are not paid to the seller, but are immediately credited to the developer’s account as the main contribution for the new residential space;
• Not always homeowners who took part in a transaction under the “offset” scheme get the opportunity to immediately move to a new, comfortable apartment. Often, developers offer living space in houses that are still under construction, so you will have to wait until the work is completed and the house is put into operation. In addition, the new apartment may need renovation, which will also delay the moment of a happy housewarming for quite a long time. During this entire period, until you move to a new apartment and complete renovation and finishing work, you will either have to live with relatives or rent housing, since the old apartment has already become the property of a real estate agency or developer, and often has already found new owners. Such additional costs and inconveniences deprive the trade-in deal of its main advantage - the speed of moving to a new home;
• the likelihood of encountering unscrupulous agencies offering a scheme that Oleg Samoilov, general director of Relight Real Estate, calls “false trade-in.” In this case, the developer books a new apartment only for a certain period, taking on the responsibility to sell the old housing during this period. If it is not possible to sell the apartment before the agreed time, pressure is put on the seller, forcing him to reduce the price. Thus, the main advantage of such a scheme is the guaranteed reservation of a new building apartment, but setting a deadline for the sale of a secondary apartment reduces this advantage to nothing.

Which option is better to choose?

The most common scheme is to sell your own property and buy an apartment in a new building with the proceeds. If they are not enough, you can apply for a cash loan from the bank, and also negotiate with the developer on installment plans. But, when planning to carry out such a large financial transaction, as well as to attract borrowed funds, an individual must realistically assess his capabilities.

For many years, he has to bear the sometimes unbearable burden of a loan or installment plan, as well as pay for current expenses, the lion's share of which will be rent for rented housing. Also, the client must have confidence that the developer will not unilaterally change the terms of the agreement and will not increase the cost of the new building.

If a person seeks to minimize possible risks, then he should purchase a property in a new building that is not yet under construction. In this case, the developer will not set an exorbitant price, and the money received for the sold personal home will be quite enough to make a full settlement.

The problem of undervalued apartment value

In most cases, the assessment of objects offered for purchase is carried out by separate divisions of real estate companies. Their employees use the analogue method in this matter, which involves comparing apartments with similar parameters in a specific area. After leaving the client’s address, an inspection of his property is carried out. The appraiser may deliberately underestimate the value of the property, focusing on any defects. Next, the foreclosure company offers the owner an amount that is slightly lower than the appraised value. The discount amount is set individually by each company and can reach 25.0%. But, if good real estate is offered in an elite area, the discount can be reduced to 5.0%.

Attention! If a person wants to get the most accurate assessment of his property, he needs to insist that this procedure be carried out by professionals working in specialized private or government agencies.

Requirements for qualifying housing

Each construction company, acting as a developer, puts forward its own requirements for real estate that will be provided to clients on credit. The general requirements include the following:

1. Any real estate for which the client has issued title documents is accepted for offset.
2. Objects must be legally and physically free, or their owners can vacate them in record time.
3. There should be no illegal redevelopment of the property.
4. Objects must be personally owned by their owner for at least three years.
5. Some developers, or buyout companies, require that the property be located in prestigious cities or areas.

We are waiting for your further questions. We will be grateful for rating the post, likes and reposts. You will also be interested to know what is more profitable: a mortgage or an installment plan from the developer.

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Program “Old apartment to offset the new one” from developers of St. Petersburg

An old apartment to count as a new one: trade-in program from LSR

Five steps to your new apartment under the trade-in program:

The first step is choosing a new apartment. You are choosing a new apartment in LSR residential complexes. The apartment you like is reserved for you for 3 days (the service is free).

The second step is the assessment of the old apartment. During these 3 days, specialists from the real estate agency, which is a partner of LSR, evaluate your existing apartment and issue an opinion (the service is free).

The third step is the purchase agreement. After the assessment, subject to your agreement with the declared price of the old apartment, an equity participation agreement (DPA) or a purchase and sale agreement (SPA) for a new apartment is concluded with you as an offset on the following conditions:

• a down payment of 10% of the cost of the new apartment is paid within 5 working days;
• Payment of the remaining amount is due within 3 months. This is the period during which the agency undertakes to sell your old apartment;
• if funds are not enough, you can use a mortgage program or installment plan. This is discussed individually.

This is important to know: What you need to know when buying an apartment on the secondary market with a mortgage: where to start, procedure, purchase order

The fourth step is an agreement for the sale of the old apartment. An agreement is concluded with a real estate agency for the sale of your own apartment. Implementation period: 3 months. The service of selling an apartment is free for you.

The fifth step is your new apartment. Upon successful completion of the sale of your property within the established time frame, you will make a second payment.

“Apartment for credit” from KVS

Program for trading off an old apartment for a new one from the developer RosStroyInvest

How to get a new apartment in a modern building to replace the old one and improve the living conditions of your family?

• You purchase a new apartment at a fixed price even before selling your property.
• The sale of your property is carried out within one to two months after concluding an agreement aimed at purchasing an apartment in a new building.
• You receive a full range of services at one address:

— assessment by experienced specialists of the market value of your property;

— consultation of specialists and conclusion of contracts aimed at purchasing an apartment in a new building;

— searching for a buyer for your property on time and at an agreed price;

— transaction support by our specialists;

Real estate properties in St. Petersburg and the Leningrad region are accepted for credit.

“Favorable offset” program from the developer “Northern City”

The “Profitable Offset” program, developed in the “Northern City” and implemented with the city's leading real estate agencies, allows you to sell your existing property at the market price within 90 days and become the owner of a new apartment.

Differences between the PROFITABLE CREDIT program and programs offered by other developers:

— Your property will be sold at market price, without loss in value.

— The price for a reserved apartment in the “Northern City” will be fixed at the time of sale of the existing property. The contract is concluded in accordance with 214-FZ, the down payment is 15% (180 days/365 days) of the cost of the apartment.

— Discount from the base price from 11% (second payment period is 180 days) to 9% (second payment period is 365 days).

— Possibility of combining the program with a mortgage from Sberbank of the Russian Federation.

“Apartment for credit” from the developer Setl City

The “Apartment credit” scheme applies to the objects of the construction company Setl City - these are more than ten modern comfort-class residential complexes in different areas of the city, provided with all the necessary infrastructure. You can move into the apartment immediately after receiving the keys, without worrying about repairs - all of them are delivered with high-quality fine finishing in two colors “Vanilla” or “Chocolate”. The new “Italian Collections” finishing standard even includes heated floors in the bathroom.

Old apartment to offset the new one under the Lenstroytrest program

When purchasing an apartment in one of the Lenstroytrest company’s properties under the “Apartment for Set-Off” program, the client is given the opportunity to sell his existing property through a real estate agency for free.

Within the framework of this program, the subject of the contract of assignment between the client and the Academy of Sciences for the sale of the client’s real estate can be located within the borders of St. Petersburg or the Leningrad region within a radius of up to 40 km from the Ring Road:

- apartments - rooms - residential buildings - land plots - rights of claim in the primary real estate market (participation agreements in shared construction, share contribution agreements, purchase and sale agreements, etc.).

Housing Credit program from

6 steps to the apartment in “New Okkervil”:

1. You own real estate (room, apartment, garage, cottage, plot, etc.) that can be sold.

2. You call or come to the sales department of the ISK “Otdelstroy” (or to the Representative Office at the site) and, together with the manager, choose a suitable apartment in “New Okkervil”.

3. A secondary market specialist evaluates your property that you want to sell and issues a comprehensive conclusion (within 5 days). The apartment you like in “New Okkervil” is reserved for you.

4. You enter into an agency agreement with a specialist in the secondary market for the sale of your existing real estate. Simultaneously with the agency agreement, you book an apartment in the Otdelstroy ISK. The reservation period is 1 (one) month, the reservation period can be extended. Booking conditions will be confirmed with the manager.

5. Upon successful completion of the transaction for the sale of your real estate within the established time frame, you deposit the funds received from the sale of real estate as payment.

6. You became the owner of a new apartment in “New Okkervil”

View the residential complex "New Okkervil" from