Mortgage broker Maxim Churilov warned about real estate deals that go forward without a thorough legal check of both the seller and the property. He described such transactions as the riskiest path to home ownership, stressing that buyers may face hidden claims, disputed ownership, or forged documents. This warning was reported by lenta.ru and should be taken seriously by anyone considering a property purchase.
Churilov urged buyers to verify who truly owns the property and to confirm that the ownership was obtained lawfully. The key step is obtaining documents directly from the seller and requesting the property’s title deeds. By examining these records, buyers can trace the property’s history, uncover any past transfers, mortgages, liens, or inherited rights, and identify red flags that could derail a prospective purchase. In practice, this means asking for original title certificates, registration histories, and any court or government notices related to the property.
The broker also emphasized checking who is registered to live in the apartment and whether there are any holdouts on privatization. If individuals who refused to privatize still reside in the unit, their rights can complicate a sale. Churilov warned that someone who retained a life interest or a right of residence, even after ownership changes, may continue to occupy the property. Such scenarios require careful review of registration records and legally binding documents before proceeding with a deed transfer.
Additionally, it is important to determine whether the seller is married at the time of sale. If so, a prenuptial agreement or notarized consent from the spouse is typically required for the transaction, even when a marriage has ended. This protects all parties from competing interests and ensures that the transfer of ownership is executed with full authority. In jurisdictions where property rights can extend beyond the individual seller, obtaining this consent is a prudent step that can prevent future disputes and potential claims against the title.
Beyond legal verification, prospective buyers should consider the broader market context. In Russia, a new wave of demand for mortgage loans has recently emerged, influencing the pace and terms of property deals. Lenders are more attentive to verified ownership records and robust documentation during underwriting, so buyers who prepare comprehensive, well-documented files often secure better financing options. This trend underscores the importance of diligence in the early stages of the buying process, not only to protect the purchase but also to enhance financing prospects and negotiation leverage. The guidance from Churilov aligns with a cautious, methodical approach that prioritizes long-term security over speed.