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Monday, March 19, 2018

The crisis in the housing market led to a rise in fraud

Analysis of consumer activity in September showed abnormal trends and behavior of buyers and sellers. It is no secret that the first month of autumn is traditionally characterized by a revival of activity of Muscovites. However, now the number of complaints of potential buyers has dropped by almost 20% compared to last year. Experts point out that in their minds there were only two of autumn, when September has increased the demand in the segment of the secondary housing: in 2006 and 2008. In the first case, the “ignore” was critical due to the “overheated” market and in a few years became a crisis.

photo: Elena Minashkina

— September decline of purchasing power is an exceptional phenomenon in the housing market. This year, the absence of the traditional the September increase in the number of buyers was exactly the same as the minimum increase in the activity of sellers: the market has avoided that part of the pent-up demand, which is traditionally made in the summer due to people leaving on vacation, — commented the Director of the Department of the secondary market “INKOM-real Estate” Sergey Shloma.

The minimum was and growth suggestions: plus 3% compared to August (41 039 objects). The average price of a square meter, though only slightly, but decreased the minus 0.2% per month (184,2 thousand rubles). Stronger than all fell flat in the South-West and East of the capital fell by 0.5% (RUB 186,2 thousand and 158 thousand rubles. per 1 sq. m respectively). In the center and in the North of Moscow, however, recorded a slight growth of 0.1% (382,8 thousand and RUB 184,7 thousand RUB for 1 sq. m respectively). The most affordable district — Zelenograd — gained 2.6%, slightly breaking the “round” mark: 101,7 thousand RUB If we consider the cost of the “square” segment of the housing market, the economy on average is estimated at 161,1 thousand rubles, comfort — in of 180.4 thousand RUB, the “business” — in 267,2 thousand RUB

The cheapest apartment on the secondary housing market within the ring road — 3.1 million rubles in September became the “odnushka”Studio with a total area of 20 sq m on the 1st floor of a 14 storey panel house on the street Brateevskaya. The most expensive offer — 766,4 million rubles — was deletecompany duplex penthouse with private Elevator in the 10‑storey building in Mosfilmovskaya street. Total area — 950 sq. m. the Planning solution involves four bedrooms, two office, five dressing rooms, five bathrooms, fireplace, kitchen, living-dining room, billiard room, two pools and two saunas. In the possession of the owner there are two open terrace 350 sq. m, roof area of 400 sq. m. the price includes four Parking spaces in a private underground Parking.

Incredibly remains a high share of sales with discount: 82% of transactions take place at a discount of 8% and above. The sellers do not require and collateral. The number of contracts to prepay this September not only increased compared to August, but decreased by 2%. The same behaviour (minus 2%) is noted in comparison with September of last year.

According to our estimates, the nominal volume of supply in Moscow secondary housing market in 2016, exceeding the actual needs of customers, four times. According to the laws of the market and common sense this must inevitably provoke a significant decline in prices that is expected and the buyers during the first half of last year, analysts say.

The average time of exposure at the Moscow secondary housing market in September was 83 days — 10.8% (10 days) less than in August. However, the formal reduction should not be regarded as a stable trend of reducing of term of sale of the objects. On the contrary, at the moment, and in General this year it is at a high level.

Characteristic feature of today’s market — “the disappointed seller syndrome”: many owners no longer believe that I will be able soon to sell their living space, — continues Sergey Shloma. They wonder, “Apartment look, but for the entire year no bid!”. All so the buyer is in a hurry. He’s slowly looking for a perfect feeling of “breathing in the back”: no excessive demand or rising prices. To interest the current user can only obviously attractive on its quality and price characteristics of the object. These lots are realized on average during the month. The other “crash” in the database for a long time.

Meanwhile, experts remind “Metrium Groups”, the crooks in the housing market still not bored. And here is the ranking of the most common mistakes when transferring money on the secondary market.

In the first place — the transfer of money to or after registration of property rights. And it seems to be obvious that in case of cash payment, there is nothing safer than a Bank cell, and when a Bank — irrevocable letter of credit. The mediator in the face of the Bank will not allow the buyer to withdraw funds before the registration of ownership rights and not transfers them to the seller, if the registration will not succeed. However, as soon as it comes down to it, parties to the transaction lose vigilance. The buyer already sees himself as the landlord and relaxing and the seller insists that you first get money and then transfer the apartment. At this point increases the risk of psychological manipulation. Usually the high risks by the party which is more interested in the contract.

Second place in the ranking of errors is the transfer of money without a receipt. Many buyers believe that the signing of the agreement reflects the transfer of money, but the only way to prove the fact of payment is the only receipt the seller of receipt of funds. “This whole document is written by hand and should contain the names of the Contracting parties and their passport data (the same data of witnesses if their presence), price and property description, the date of the agreement and of the receipts. The receipt will help to avoid the simple fraudulent trick when criminals actually get the money, but then deny this fact,” say the lawyers.

The third authentication and the number of bills. In this case, the risks borne by the seller. Defaced Bank notes you can, of course, to replace the Bank, but it will have to pay a Commission. An even greater nuisance — a receipt from the buyer of counterfeit bills. To avoid retribution fakes, it is necessary to use special means of authentication, which is, in particular, in the notary’s offices and banks. There is a risk short of the amount claimed, and it may occur as malice, and in connection with the simple carelessness of the buyer. This trouble can be avoided with the help of the banknote counter, which is in the Bank. Thus, to obtain large sums need to be technically prepared and not to rely only on their own care.

Agreed to meet in an unsafe place — another seemingly obvious but not always taken into consideration by the buyer the risk factor. “If you think that the amount that you have, is not big enough for her to go on a daring crime, a desperate criminal thinks differently, experts say. — Never do a deal in nerudnykh places, at home or from the seller. Relatively crowded places (restaurants, malls) are also not suitable for transfer of funds. First, in the case of robbery or theft of passers-by and security guards can respond to crime in a timely manner, and secondly, you can attract the attention of other criminals who become accidental witnesses to the transfer of funds. With the owner of better pay in a neutral territory. A good option — the Bank, since lending institutions usually well guarded. In addition, Bank employees may become qualified witnesses of the transaction in case of litigation”.

Error number five — the transfer of money without witnesses. If for any reason the transaction parties is necessary to transfer funds directly without an intermediary Bank or the notary, the Contracting parties should invite the witnesses. In the event of litigation they will be able to confirm the fact of transfer of money, and also to clarify some details: the time and place of money transfer, voluntary participation of the parties. Witnesses must be at least two. They are not only present, but also put their signatures in the receipt, otherwise the court can ignore their testimony.

And the latest “folly” — making a large amount as prepayment. The buyer risks if these funds are transferred to the apartment owner to register the transaction. Experts of “Metrium Groups” noted that in the vast majority of cases the contract of sale passes the check, but that may not happen. If the sale was originally organized fraud, the buyer runs the risk of never see your Deposit. Therefore, great caution should be taken to demand payment, especially if it is a significant part of the cost (about 50%). If the seller is no malicious intent, the Deposit is considered more as a symbolic proof of the seriousness of the buyer. Usually it does not exceed 5-10% of the sales price.


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