Facts Everyone Should Know About Sangar Housing
The sale of apartments in new houses under the trade-in project is not an exchange of the past for a new one and is not a set-off, but instead, a service presented to the buyer to immediately get money for his business. Specialists told the Sangar Housing website how much companies work and who may be satisfied with them.
The whole point of trade-in
First, you need to name what trade-in is not. First of all, this is not a simple exchange of an old apartment for a new one. Also, most developers do not take the buyer’s old apartment “as payment for the new one” and do not buy it out under this Sangar Housing scheme.
Selling an apartment under the trading scheme and buying a new building are two transactions that take place in parallel. Accordingly, two contracts are concluded – an agreement for the provision of services for the sale of the client’s old apartment and an agreement for booking an apartment in a new building, explains Andrey Kolochinsky, managing partner of VectorStroyFinance. In the first agreement, the parties agree on the property’s sale price, and the amount of remuneration for the services rendered is also prescribed. A particular apartment is assigned to the client in the booking agreement, and its cost is fixed.
Reservation, fixing the cost of a Sangar Housing apartment in a new building for a certain period, is one of the significant advantages of the trade-in scheme, emphasizes Olga Nart, head of the sales and marketing management department of Razvitie Management Company.
The duration of such a reservation depends on the pace of construction and the increase in prices in a new building, adds Julia Dymova, director of the Est-a-Tet resale real estate sales office. The reservation time also depends on the developer himself: the experts called the terms from 60 days to six months, some of them indicated the possibility of extending the reservation. That is, the approach, in this case, is individual. A scheme is also possible in which the price is not fixed at all, and only the apartment is booked. That is, the seller guarantees that it will not be sold to other buyers.
An alternative trade option in offsetting an old apartment against payment for a new one is not used very often, but it is on the market. Such a program, along with the above scheme, is used, for example, in the Ingrid Group of Companies. “If we talk about offsetting an apartment against a new building, here we are ready to discuss additionally the possibility of a buyer staying in his apartment on a reimbursable or gratuitous basis,” the company’s experts clarify.
An important point noted by all interviewed experts is that a Sangar Housing apartment for sale should be located in the same region as the desired new building. Most developers and realtors work only in local markets and do not have the opportunity to implement an object in another area. For example, if a new facility is located in Moscow, the old apartment should also be found in the capital of the Moscow region.
Buyer’s expenses under the trade-in scheme
When selling by trade-in, an agency agreement is concluded with the client to sell his housing. After the buyer for the old housing is found, the client pays a commission to the broker. Then the sales department of new buildings immediately prepares the documents for the transaction. Explains Maria Litinetskaya, managing partner of Atrium. In addition, the client must pay for the support of the trade in the primary market. The service of registration of a preschool institution and registration of property.
In addition to the specified commission, the buyer can also pay for the booking agreement (if it is paid) and the Sangar Housing apartment being purchased. The order of prices, again, depends on the company. For example, the developer RDI has set the cost of services for the sale of an apartment at 35 thousand rubles. And the cost of a booking agreement – 30-50 thousand, says Valery Kuznetsov, Sales Director of RDI.
The remuneration can be fixed in the form of a certain amount. In addition, a percentage of the property’s value being sold can be set (usually 2-3%), adds Kolochinsky. And if the contract is terminated, the client may be withheld a small amount to compensate for. The advertising costs of his apartment – in the region of 5 thousand rubles, he explains. Finally, a nuance can also be conditionally attributed to the buyer’s expenses – this is the discount with which his Gwadar Housing Scheme is being sold.
“Usually two selling prices are set: desired and for a quick sale, that is, lower. In these matters, the buyer should weigh his decision in order to understand what discount to agree to,” explains Nart.
As a rule, the size of the discount does not exceed 15%, adds Kolochinsky. There is another approach: an apartment on a trade-in is sold. At a market price without dumping, says Litinetskaya in turn. Although here, agents act within the framework of an agreement with the client.
Several common mistakes prevent buyers from taking full advantage of the trade-in scheme and even jeopardize the entire deal.
The most common mistake is that sellers do not offer a discount or a particular discount on time. It is correct to do this with a short reservation for new buildings. Or with an active rise in prices in the acquired new building, explains Dymova.
Sometimes the buyer significantly overestimates the amount for which he wants to sell his apartment. This usually leads to the fact that his property does not find a buyer for the specified period. Accordingly, the client loses the opportunity to purchase a new Sangar Housing home at a fixed price, adds Nart. On the other hand, if the buyer for an old apartment is located very quickly, literally within one week. Then the client thinks that he has sold out. And he begins to adjust the cost of the object complaints. And in turn, notes that buyers often do not read the agency agreement. At all and do not understand the obligations and risks of its parties.