17 lutego 2024

Post-Apartment Purchase Formalities – A Guide to Getting Ready

Post-Apartment Purchase Formalities – A Guide to Getting Ready

 

You've completed the notarial deed for your new home, marking the end of the search, negotiations, and potential loan application process. Congratulations! However, your journey doesn't end here. Several official tasks await you after signing the contract. What are they? Explore our checklist for post-apartment purchase formalities to ensure you don't overlook anything.

 

Post-Apartment Purchase Formalities: Technical Acceptance

 

After acquiring an apartment, regardless of it being from the primary or secondary market, conducting a technical inspection is essential. On this day, bring along a trusted specialist or construction supervision inspector to assess the apartment's condition and the quality of its finishing. During the inspection, be vigilant for physical defects such as installation errors, moisture, or window tightness issues. For developer-bought apartments, ensure the technical condition aligns with the contract guarantees. For secondary market apartments, document and describe the existing equipment in the handover report. Include the status of utility meters on the transfer day. For developer-acquired apartments, note the method and date of rectifying identified defects in the post-reception report. Now equipped with insights into the technical inspection, explore other post-apartment purchase formalities you need to address.
 

Post-Apartment Purchase Formalities in the Secondary Market

 

The property deed you've signed for your secondary market home confirms your ownership. Inform relevant institutions, settle fees, and sign new agreements to complete these post-purchase tasks. Here's a breakdown:
1.    Apply for Land Registry Entry: •    If the property doesn't have a registry, apply at the District Court's Land Registry Department, costing 100 PLN for establishment and 200 PLN for ownership entry.

2.    Transfer Property Tax (PCC): •    The notary overseeing your purchase manages the 2% property value PCC payment (e.g., 12,000 PLN for a 600,000 PLN property). Provide the amount, and the notary handles the payment to the tax office, providing you with a notarized deed copy confirming ownership.

3.    Communicate with the Housing Community/Cooperative: •    Inform them of the purchase, presenting identification, property deed, and handover protocol. Declare the number of occupants for waste disposal fee calculation and learn about rent schedules.

4.    Notify Local Authorities: •    Report the purchase to the municipal office within 14 days, becoming the official owner and taxpayer. Failure may result in fines.

5.    Property Tax Information: •    Obtain property tax details from the municipal office, calculated based on size and local rates. The tax obligation begins the first day of the month following property acquisition.

6.    Utility Contracts: •    Sign contracts with utility providers using the purchase agreement and handover protocol. Include meter information for accurate billing; the process typically takes a few weeks.

7.    Bank Interaction (if purchased with a mortgage): •    Deliver the property deed to the bank with the mortgage application confirmation to activate the mortgage and receive funds.

8.    Mortgage Entry (if applicable): •    For mortgage-purchased homes, submit a mortgage entry application to the land registry. Completing these steps ensures a smooth transition into your new property.

 

Buying from a Developer: Necessary Formalities

 

 

When purchasing an apartment from a developer, certain advantages streamline the process. Typically, the included VAT in the price, covered by the company, eliminates the need for additional tax on civil law transactions. The development company and the notary often handle many formalities, such as submitting ownership transfer applications to the land and mortgage register court.
However, there are some post-purchase responsibilities for buyers:
1.    Real Estate Tax: •    Contact the relevant commune or city office within 14 days of signing the ownership transfer contract to determine and settle the real estate tax.
2.    Utility Contracts: •    For utility contracts, the situation depends on whether the developer installed meters before the sale. If meters are present, their condition is documented in the handover protocol, forming the basis for charging utility fees to the new owner. If not, buyers must personally contact utility suppliers with the ownership certificate to establish contracts for electricity, gas, or internet services.

 

These self-handled formalities ensure a comprehensive and hassle-free transition after purchasing an apartment from a developer.


Post-Apartment Purchase Procedures: Beyond the Basics

 

After acquiring an apartment, whether from the primary or secondary market, several additional steps ensure a smooth transition:
1.    Check-In: •    Ensure you complete the check-in process, confirming your occupancy and familiarizing yourself with the property.
2.    Document Exchange: •    Exchange necessary personal documents related to the property purchase, facilitating a seamless transition.
3.    Change of Address Notification: •    Notify relevant entities about your change of address, including your bank. This ensures important correspondence reaches you promptly.
4.    Insurance: •    Consider insuring your premises, even if the purchase is in cash. This precaution protects against unforeseen events like fire, burglary, or flooding, providing financial security.
5.    Residence Registration: •    In Poland, a change of residence is a legal obligation. Register your new residence at the appropriate commune or city office by submitting an application and the house ownership deed.
6.    Document Replacement: •    Due to the change of residence, replace documents indicating your address. Inform your employer, mobile operator, bank, and tax office of the updated correspondence address.

For those purchasing with a mortgage, apartment insurance becomes a responsibility. Banks typically mandate an insurance agreement with the insurer, including the assignment of rights to compensation. While optional for cash buyers, insurance is advisable, safeguarding against significant damages or unexpected events.

 



Remember that if you have any doubts, I am happy to offer you advice and assistance. Let's meet, you will find that my help in choosing the best mortgage can be invaluable.

 

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