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You are at:Home»Investment»Real estate privatization methods: what you need to know

Real estate privatization methods: what you need to know

January 23, 2025

Privatization of living space is possible using two ways. The first is to independently execute all the necessary documents. The second provides for the services of intermediary structures, which are specialized agencies. This method is distinguished by its simplicity and speed, although you have to fork out for payment of services to intermediaries. Those people who, based on their personal reasons, cannot wait six months until the whole privatization procedure has to be resorted to the help of agencies. Such reasons are in the urgent transaction of sale or gift, which require mandatory privatization of housing. To save and not spend extra money, you can organize an independent collection of all the documents necessary for subsequent procedures. This process is very troublesome, since it requires collecting all certificates from potential owners who live in the apartment. To begin the privatization process, it is necessary to collect documents such as a plan of real estate object, supported by an extract from the registration certificate, a poetry plan and explication. Next, it is necessary to receive a warrant or extract from the order of the Department of Housing Policy and the Housing Fund for the provision of living space to the right to use and the social rental contract for it. No less important will be obtaining a certificate confirming the data of the previous residents of the apartment. A certificate is also needed that housing in privatization did not participate, as well as a receipt on payment of registration.

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