How to avoid getting into trouble with unfinished construction

A person who buys an apartment in a new building finds himself in a vulnerable position, because it is not entirely clear what exactly he owns: the rights to an apartment in a building that has not been put into operation are still not his own housing. That is why it is important to understand who the investment is made from and according to what scheme. Yes, modern legal norms are more transparent and better protect the buyer, but according to the head of the real estate and construction practice of the law company “DE-JURE”, lawyer, candidate of legal sciences Ivan Topor, before investing money in a new building, it is better to order a legal check and find out about possible risks in advance.

Investor security is a long chain of coordinated steps, including checking the land plot, permits, choosing a model that reduces the chances of double sales, establishing financial safeguards, drawing up a contract with clear deadlines, ensuring and a clear procedure for acceptance and registration, fixed guarantees and post-transfer procedures, and a clear algorithm of actions in case of problems.

Timely cooperation with a lawyer, experts and a notary before buying an apartment will save money, time and significantly reduce the risk of incomplete construction of the object in the future.