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HOW TO SELL A SHARE IN AN APARTMENT: STEP BY STEP INSTRUCTIONS

Cannot find a solution to the problem, how to sell a share in an apartment in 2019? Implementation of such a transaction without the participation of experienced realtors, can be difficult for several reasons:

  • Difficult relations between owners often impede the rapid realization of property;
  • Defining clear boundaries of apartment parts is not always possible; it requires competence and knowledge of current legislation;
  • For evaluation, it is necessary to take into account a large number of both objective and subjective factors;
  • The circle of potential buyers of this kind of real estate is much narrower than when selling a full-fledged apartment.

LEGISLATIVE RESTRICTIONS

Most often, the difficulty with how to sell part of an apartment arises because of insufficient knowledge or misinterpretation of laws. According to the law, several citizens may own a living space on the basis of common joint or shared ownership. In the latter case, each of them has a part indicated in the documents, which he has the right to dispose at his own discretion – to sell , exchange or donate. You can find a real estate agency here for all the formalities so, you don’t need to worry.

ESTIMATION FEATURES

It is not easy to sell a shared apartment because of the difficulties in identifying its parts, because they are described in documents only as a fractional number (1/2, 1/3, etc.). Such an approximate designation complicates the assessment of living space for its subsequent implementation. Despite this, there are a few rules that can help in setting value:

  • The assessment takes into account all factors affecting the price of the apartment (area, district, year of construction, house material, infrastructure, repairs, condition of the yard, etc.);
  • The market price of a square meter share is about 30% less than the price of a square in the whole apartment;
  • A large number of owners proportionally reduces the cost;
  • The presence of the refusal of other shareholders of the right of redemption is an advantage for potential buyers;
  • The faster you need to sell part of the apartment, the lower the price should be;
  • If minors or incapable citizens live indoors, selling without a specialist’s services becomes extremely difficult;
  • Litigation as much as possible depreciates the property and puts the deal in jeopardy.

SALE OF UNALLOCATED SHARE

To sell a share in an apartment is a difficult task even for a realtor, not to mention a person who is far from this sphere. The most serious obstacle to the implementation of this operation is sometimes the categorical refusal of apartment co-owners in the allocation and sale of part of the apartment. Then the only way to implement it is to consult with the best specialists and submit a claim to the judicial authorities. According to statistics, more than 80% of such situations are resolved in favor of the seller, when evidence of sending a written notice is submitted to the court:

  • If it is sent by mail, then it is better that it is a registered letter with a notification of receipt;
  • A copy of it, certified by a notary, is also useful.
  • For consideration of the notification recipient is given thirty days. In case of refusal, the full right to sell part of the property arises under certain conditions:
  • The price of the apartment should not be lower than that reported to other owners; otherwise, each of them may sue and demand that the transaction be declared invalid;
  • In an attempt to circumvent the rule of priority sale to co-owners and to realize a share under a donation agreement to third parties, a trial and cancellation of the agreement is not excluded;
  • If one of the owners turns out to be a minor, and his rights are not respected, he can protest the sale.

It is most advantageous to combine the efforts of all owners and sell the apartment in flat as a “whole”. But this is not always possible.

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