Риски по Реновации ⚡📝‼️
Risks in Acquiring Apartments from the Renovation Fund
Introduction to the Topic
- The speaker, Mikhail Chtkov, discusses his role in assisting clients with purchasing apartments through the Moscow Renovation Fund, both with and without mortgages.
- He highlights that this discussion will focus on newly identified risks associated with acquiring apartments from the renovation fund.
Key Contractual Issues
- The standard contract used by the renovation fund requires buyers to submit necessary documents within five working days, including a notarized power of attorney.
- Since summer last year, transactions have shifted to electronic registration, making notarized power of attorney unnecessary; however, this requirement remains in contracts.
Risks of Non-compliance
- Failure to provide the notarized power of attorney can lead to unilateral termination of the contract by the seller without court intervention.
- Despite assurances from buyers that they do not need a power of attorney for electronic transactions, it remains a contractual obligation that could jeopardize their agreements.
Ongoing Concerns and Future Outlook
- The speaker emphasizes that while they continue to finalize these deals despite risks, there is an ongoing concern regarding outdated contractual terms.
- He expresses hope that the renovation fund will eventually remove such clauses to minimize contractual risks for future transactions.
Positive Aspects of Contracts
- A notable positive aspect mentioned is clause 14 of the contract which guarantees no third-party rights over purchased properties. This provides reassurance for buyers amidst other potential issues.