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Sale of real estate in Russia

08.01.2022
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In order to avoid unqualified actions, the procedure for the purchase and sale of real estate, for both sellers and buyers, should be followed in a clear and step-by-step manner. The successful completion of such transactions depends on the correct manner in which the documents of title are executed.

With the instructions below, you will be able to formalize and successfully complete a real estate sale without the involvement of a realtor. If you are a purchaser and are interested in buying real estate without a realtor, we recommend you to read the step-by-step instruction for the purchaser at the link.

Step-by-step instruction “Sale of real estate without a realtor (secondary market)”

Step 1. Advertisement and preparation of documents for the sale of real estate

By placing an advertisement for the sale of real estate, take care of the necessary documents for the sale of real estate.
First of all, you will need:

  • Certificate of Ownership - documents confirming that you are the owner of the property
  • A valid passport (if you have lost your passport or your passport is expired, take care in advance to obtain a new passport)
  • Documents substantiating your title to real estate (contracts, payment documents, certificates of inheritance, etc.)
  • Notarized consent of your spouse to the transaction with the real estate acquired during the marriage or proof of separate ownership (prenuptial agreement, separation agreement, etc.)
  • Consent of the guardianship authority to the transaction, if a minor or incapacitated person is involved in the transaction
  • A waiver by the other owners of their right of first refusal or confirmation that the seller has notified the other participants in the shareholding in writing of the intention to sell their share (if the share in the joint shareholding of real estate is being sold)
  • If the real estate is a cultural heritage object and such document has not been submitted for state registration of transactions before
  • A notarial power of attorney with all the necessary powers to represent your interests in a real estate transaction
  • Consent of the pledgee for the transaction, if the real estate is pledged or consent of the annuity recipient, if the real estate is encumbered with an annuity

Confirmation of compliance with the right of first refusal, owned by the municipality, for the sale of agricultural land

It is better to prepare other documents immediately before the registration of a real estate transaction.

Step 2: Showing the property to potential buyers

Step 3. Submission of real estate documents to the bank (if buyer need bank loan)

After checking the real estate documents, and most importantly, checking the documents which characterize the buyer-borrower, the bank decides whether to approve or disapprove the loan. If the loan is approved, the bank sends a proposal for the terms of the loan.

Step 4: Providing the buyer with documents to verify the legal compliance of the property

It is quite natural that buyers thoroughly inspect the property before buying it (by themselves or with specialists), as buying a real estate is a serious step. The buyer's decision as to whether or not to proceed with the purchase depends on a positive opinion of the legal compliance of the property. Therefore, to successfully complete the transaction the seller should be ready to provide the buyer with the available documents from the list above and the documents requested by the buyer additionally.

The seller will normally also be required to prepare the following documents before the transaction:

  • For residential property: an extract from the house register
  • A certificate of financial statements that confirms the absence of utility payment arrears; a certificate of the absence of outstanding capital repair payments (the issue of debt settlement is also settled prior to the transaction)
  • Certificates from the psycho-neurological and drug-addiction clinic confirming that the seller is not registered in these institutions (they are often required along with a visit to the doctor)
  • Proof of compliance with the right of first refusal in case of joint ownership
  • Notarial consent of a spouse to a transaction involving the alienation of joint property or a marriage contract establishing a different ownership regime for the spouses

Step 5. Preparation of a contract for the sale of real estate

Before the purchase, the parties must agree on the terms of the contract, make any changes and have the documents ready for signing.

One of the most important issues in the real estate sale is the choice of payment method.

What conditions must be included in the contract for the sale of real estate?
  • Description of the real estate object;
  • Grounds of acquisition of property rights by the seller;
  • Warranties of the seller regarding the absence of pledges, other encumbrances, limitations on property rights, absence of a contract of sale with any other person, etc.;
  • Price of the real estate, procedure and terms of payment, distribution of registration costs;
  • Procedure for transfer of the real estate by the delivery-acceptance act, transfer of risk of accidental loss;
  • The residential premises sale and purchase contract specifies the persons retaining the right of residence, the procedure of vacating the residential premises (or specifies that there are no registered persons as of the moment of signing the contract);
  • Responsibilities of the parties.

A contract for the sale of real estate must be concluded in writing and signed by both parties. The law does not require a notarial form for such a contract. 

The exceptions are, in particular, those subject to notarization:
  • Transactions on alienation of real estate belonging to a minor or a citizen who has been recognized as having limited legal capacity;
  • Transactions on alienation of shares in the right of common ownership of real estate, except for transactions on alienation by all participants of common ownership of their shares in one transaction;
  • Transactions involving alienation of residential real estate if the application and documents for registration of the transaction are submitted to the title registration authority by mail.
In addition, the parties have the right to notarize the transaction if they wish.

Step 6. Signing the contract for the sale of real estate, payment of real estate value

If the transaction is subject to notarization by law or by the wish of the parties, the draft of the contract for the sale should be approved by the notary, and the documents listed above should be submitted to him. After verifying the documents, the notary appoints the date of the transaction. The contract for the sale of real estate is signed by the notary, who certifies the signatures of the parties with his signature and seal. Next, the notary sends the documents for the registration of ownership. When documents are submitted for registration by a notary electronically, the timeframe for registration is reduced - the registration takes only 1 day. After the procedure of concluding a sale and purchase transaction at the notary, the parties to the transaction the following steps to pay the value of the property. If the transaction is not notarized, the payment and signing of the contract usually take place simultaneously.

Step 7. Registration of the transfer of title to real estate at Rosreestr

The registration of the transfer of the title under the contract for the sale requires

  • An application for registration of the transfer of title to the real estate
  • Contract for the sale and purchase of real estate
  • A notarized declaration of the seller's spouse about the seller's consent to the real estate transaction if the real estate is sold as a common joint property of spouses or a marriage contract
  • For residential real estate – an extract from the house register
  • Passport or other proof of identity of the applicant (applicants); power of attorney, if a representative submits the documents
  • In case the applicant is a legal entity, it is necessary to submit the foundation documents of the legal entity (with all amendments and additions)
  • A receipt for the payment of the state duty

For the state registration of title to real estate individuals pay the state duty in the amount of 2,000 rubles, legal entities - 22,000 rubles.

The term of the state registration of title should not exceed 7 business days from the date of receipt of the application and necessary documents by the Rosreestr (9 business days if the documents are submitted via the MFC (Multi-functional center). The term of the registration based on notarized documents is 3 business days; 1 business day - if the documents are submitted electronically; 5 business days - if the documents are submitted through the MFC with notarized documents.

The performed state registration is certified by an extract from the Unified State Register of Real Estate, and the Rosreestr provides copies of the contracts with a note on the performed registration.

Step 8. Finalization of mutual settlements (depending on the chosen method of payment), handover of keys and documents

After receiving the documents that confirm the registration of ownership rights in the Rosreestr, the parties complete the mutual settlements depending on the chosen method of payment. Payment for the property is an important step for both the buyer and the seller, so we recommend that you consult an experienced lawyer to select a convenient and safe method of payment and the necessary actions to sign the documents.

Step 9 - Income declaration, application of deductions, calculation and payment of tax

Sale of real estate in Russia

In order to avoid unqualified actions, the procedure for the purchase and sale of real estate, for both sellers and buyers, should be followed in a clear and step-by-step manner. The successful completion of such transactions depends on the correct manner in which the documents of title are executed.

With the instructions below, you will be able to formalize and successfully complete a real estate sale without the involvement of a realtor. If you are a purchaser and are interested in buying real estate without a realtor, we recommend you to read the step-by-step instruction for the purchaser at the link.

Step-by-step instruction “Sale of real estate without a realtor (secondary market)”

Step 1. Advertisement and preparation of documents for the sale of real estate

By placing an advertisement for the sale of real estate, take care of the necessary documents for the sale of real estate.
First of all, you will need:

  • Certificate of Ownership - documents confirming that you are the owner of the property
  • A valid passport (if you have lost your passport or your passport is expired, take care in advance to obtain a new passport)
  • Documents substantiating your title to real estate (contracts, payment documents, certificates of inheritance, etc.)
  • Notarized consent of your spouse to the transaction with the real estate acquired during the marriage or proof of separate ownership (prenuptial agreement, separation agreement, etc.)
  • Consent of the guardianship authority to the transaction, if a minor or incapacitated person is involved in the transaction
  • A waiver by the other owners of their right of first refusal or confirmation that the seller has notified the other participants in the shareholding in writing of the intention to sell their share (if the share in the joint shareholding of real estate is being sold)
  • If the real estate is a cultural heritage object and such document has not been submitted for state registration of transactions before
  • A notarial power of attorney with all the necessary powers to represent your interests in a real estate transaction
  • Consent of the pledgee for the transaction, if the real estate is pledged or consent of the annuity recipient, if the real estate is encumbered with an annuity

Confirmation of compliance with the right of first refusal, owned by the municipality, for the sale of agricultural land

It is better to prepare other documents immediately before the registration of a real estate transaction.

Step 2: Showing the property to potential buyers

Step 3. Submission of real estate documents to the bank (if buyer need bank loan)

After checking the real estate documents, and most importantly, checking the documents which characterize the buyer-borrower, the bank decides whether to approve or disapprove the loan. If the loan is approved, the bank sends a proposal for the terms of the loan.

Step 4: Providing the buyer with documents to verify the legal compliance of the property

It is quite natural that buyers thoroughly inspect the property before buying it (by themselves or with specialists), as buying a real estate is a serious step. The buyer's decision as to whether or not to proceed with the purchase depends on a positive opinion of the legal compliance of the property. Therefore, to successfully complete the transaction the seller should be ready to provide the buyer with the available documents from the list above and the documents requested by the buyer additionally.

The seller will normally also be required to prepare the following documents before the transaction:

  • For residential property: an extract from the house register
  • A certificate of financial statements that confirms the absence of utility payment arrears; a certificate of the absence of outstanding capital repair payments (the issue of debt settlement is also settled prior to the transaction)
  • Certificates from the psycho-neurological and drug-addiction clinic confirming that the seller is not registered in these institutions (they are often required along with a visit to the doctor)
  • Proof of compliance with the right of first refusal in case of joint ownership
  • Notarial consent of a spouse to a transaction involving the alienation of joint property or a marriage contract establishing a different ownership regime for the spouses

Step 5. Preparation of a contract for the sale of real estate

Before the purchase, the parties must agree on the terms of the contract, make any changes and have the documents ready for signing.

One of the most important issues in the real estate sale is the choice of payment method.

What conditions must be included in the contract for the sale of real estate?
  • Description of the real estate object;
  • Grounds of acquisition of property rights by the seller;
  • Warranties of the seller regarding the absence of pledges, other encumbrances, limitations on property rights, absence of a contract of sale with any other person, etc.;
  • Price of the real estate, procedure and terms of payment, distribution of registration costs;
  • Procedure for transfer of the real estate by the delivery-acceptance act, transfer of risk of accidental loss;
  • The residential premises sale and purchase contract specifies the persons retaining the right of residence, the procedure of vacating the residential premises (or specifies that there are no registered persons as of the moment of signing the contract);
  • Responsibilities of the parties.

A contract for the sale of real estate must be concluded in writing and signed by both parties. The law does not require a notarial form for such a contract. 

The exceptions are, in particular, those subject to notarization:
  • Transactions on alienation of real estate belonging to a minor or a citizen who has been recognized as having limited legal capacity;
  • Transactions on alienation of shares in the right of common ownership of real estate, except for transactions on alienation by all participants of common ownership of their shares in one transaction;
  • Transactions involving alienation of residential real estate if the application and documents for registration of the transaction are submitted to the title registration authority by mail.
In addition, the parties have the right to notarize the transaction if they wish.

Step 6. Signing the contract for the sale of real estate, payment of real estate value

If the transaction is subject to notarization by law or by the wish of the parties, the draft of the contract for the sale should be approved by the notary, and the documents listed above should be submitted to him. After verifying the documents, the notary appoints the date of the transaction. The contract for the sale of real estate is signed by the notary, who certifies the signatures of the parties with his signature and seal. Next, the notary sends the documents for the registration of ownership. When documents are submitted for registration by a notary electronically, the timeframe for registration is reduced - the registration takes only 1 day. After the procedure of concluding a sale and purchase transaction at the notary, the parties to the transaction the following steps to pay the value of the property. If the transaction is not notarized, the payment and signing of the contract usually take place simultaneously.

Step 7. Registration of the transfer of title to real estate at Rosreestr

The registration of the transfer of the title under the contract for the sale requires

  • An application for registration of the transfer of title to the real estate
  • Contract for the sale and purchase of real estate
  • A notarized declaration of the seller's spouse about the seller's consent to the real estate transaction if the real estate is sold as a common joint property of spouses or a marriage contract
  • For residential real estate – an extract from the house register
  • Passport or other proof of identity of the applicant (applicants); power of attorney, if a representative submits the documents
  • In case the applicant is a legal entity, it is necessary to submit the foundation documents of the legal entity (with all amendments and additions)
  • A receipt for the payment of the state duty

For the state registration of title to real estate individuals pay the state duty in the amount of 2,000 rubles, legal entities - 22,000 rubles.

The term of the state registration of title should not exceed 7 business days from the date of receipt of the application and necessary documents by the Rosreestr (9 business days if the documents are submitted via the MFC (Multi-functional center). The term of the registration based on notarized documents is 3 business days; 1 business day - if the documents are submitted electronically; 5 business days - if the documents are submitted through the MFC with notarized documents.

The performed state registration is certified by an extract from the Unified State Register of Real Estate, and the Rosreestr provides copies of the contracts with a note on the performed registration.

Step 8. Finalization of mutual settlements (depending on the chosen method of payment), handover of keys and documents

After receiving the documents that confirm the registration of ownership rights in the Rosreestr, the parties complete the mutual settlements depending on the chosen method of payment. Payment for the property is an important step for both the buyer and the seller, so we recommend that you consult an experienced lawyer to select a convenient and safe method of payment and the necessary actions to sign the documents.

Step 9 - Income declaration, application of deductions, calculation and payment of tax

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Sale of real estate in Russia
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