I am buying an apartment or a house
6 tasks in suggested order
1. Before making any major payment, check the owner, land register, encumbrances, cadastral records, permits, debts and the technical condition of the property.
Before making a reservation, signing a preliminary agreement or transferring money.
OCPI/ANCPI, town hall, owners’ association and legal/technical professionals.
Land-register extract, cadastral and construction documents, certificates and draft contracts.
An advertisement or an intermediary’s assurances do not replace legal and technical checks.
2. Agree the price, payment, encumbrances and handover, and conclude the transfer contract in the required authentic form.
After the checks and financing are complete, before the full purchase price is handed over.
A notary public chosen within the applicable jurisdiction rules; the bank as well if the purchase is financed by a loan.
Documents for the parties and the property, tax certificates, the extract required for authentication and the financing documents.
A preliminary agreement does not by itself transfer ownership.
Official source: ancpi.ro
3. Make sure the new ownership right is entered in the land register and check the extract after the registration is completed.
After the authentic act, through the notary/OCPI process.
The OCPI responsible for the property.
The authentic contract and required cadastral documentation.
Check the names, ownership shares and encumbrances in the registration, not only that the contract was signed.
Official source: ancpi.ro
4. Pay the taxes and charges connected with the transaction and declare the property to the local tax authority for annual property tax.
At authentication and then within the local tax deadline after acquisition.
Notary/ANAF where applicable and the local tax department of the town hall responsible for the property.
Acquisition document, cadastral details and the local form.
Notarial fees, transaction tax and local property tax are separate obligations.
Official source: ancpi.ro
5. Take over the property with a handover record covering keys, meter readings and defects, and transfer utilities and owners’ association records.
On the handover date stated in the contract.
Seller, owners’ association/property manager and service providers.
Contract, handover record, meter readings and the new owner’s details.
The signing date and the handover date may be different; the costs between them should be clearly allocated.
6. Take out the applicable mandatory and/or optional insurance and comply with the bank’s requirements if there is a mortgage.
From the date you take on the risk, according to the contract and any loan requirements.
Your chosen insurer and the financing bank.
Property details, value and ownership/loan documents.
Mandatory and optional insurance provide different types of cover.
Official source: asfromania.ro
