How to buy a unit in Avalon Estate
Step by step when buying a new house
The purchase process takes place in three simple steps, depending on the type of contract to be signed:
- Step 1: The Reservation Contract – choose and book the home that suits you best, with a small down payment, which will later be deducted from the total price of the property.
- Step 2: Pre-Sales and Purchase Agreement – pre-SPA (signed in the presence of a notary) – involves an additional down-payment on the price of the house which will also be deducted from the total cost at the time of signing the Sales and Purchase Agreement.
- Step 3: The Sales and Purchase Agreement (the sales contract), based on which you will receive the deed of ownership of the house, when you will pay the full price.
Necessary documents during the acquisition process
Buy a unit as an individual:
- Step 1: For the Reservation Contract, it is sufficient to bring a copy of your identity card. We will provide you with the plan of the house and of the parking space.
- Step 2: To sign the pre-Sales and Purchase Agreement, you will have to give the notary a copy of your marriage certificate (if applicable), together with your identity card.
- Step 3: When signing the Sales and Purchase Agreement (the sales contract), we will provide you with a copy of the Land Registry Extract for authentication, a copy of the seller’s Fiscal Certificate, the original Energy Performance Certificate, the Cadastre of the building and of the parking space.
In addition, the notary may ask you for other documents deemed necessary to complete the acquisition procedure.
When the purchase is done by a legal entity, the necessary documents are:
- Step 1: For the Reservation Contract, we will need the Registration Certificate of the company, the Memorandum of Association and the identity card of the representative.
- Step 2: The Decision of the General Meeting of Shareholders or Notary Power of Attorney for the representative.
Do I have to buy a parking space if I own a car?
To enter the complex by car, you need a parking space designated either by a sales-purchase contract / rental contract signed with the developer or with a third-party owner.
What guarantees are offered for the property I am buying?
The guarantees offered by the developer, in accordance with the law, are the following:
- Unlimited eviction guarantee – it means protection against claims made by any third party regarding the right of ownership over the dwelling.
- 3-year warranty for hidden defects of the building – this warranty refers to possible defects of the house that are discovered within two years after taking over the unit and which the developer will fix with its own funds.
- Validity and warranties for the materials – see specifications and materials to be used.
- Unlimited warranty for the structure of the building – it refers to defects in the supporting structure of the building, resulting from inconsistencies with the design specifications of the project and execution requirements.
If I sell the property before the warranty expires, are the rights transferred to the new owner?
The guarantee is not affected by the fact that you are selling your house. It is useful to give all the details about the warranty and what it covers to tenants or potential buyers. If you sell your home while it is under warranty, the rights will be automatically transferred to the new owner.
Moving into Avalon Estate
How will I take possession of the unit after signing the Sales and Purchase Agreement?
By signing the contract, the Buyer takes possession of the house. The Seller will physically hand over the property on the same day or later, in the manner agreed by the Parties, based on a Delivery Document.
How is the unit handed over?
We schedule an inspection visit, in which the entire home is checked in the smallest detail and any problem reported is recorded and discussed with the Prime Kapital representative. It is important to check the keys, to open the doors and windows, to flush the toilet, to open the taps and check in detail each room, each socket, each switch – the list is signed as part of the hand over process and any problems are recorded and resolved before handing over the keys.
When will my new house be ready?
We will start handing over the apartments in the residential complex this year, in the fourth quarter, and the entire process will be completed by the first quarter of 2022. You will be able to move into your new home as soon as the building where the purchased apartment is located is completed.
I am worried about moving in before all the work on the complex is completed.
Construction is a field where there is no lack of dust, residue, or noise. We will make sure that the technical teams will keep the area around your house clean and you will have unrestricted access to your new home, while we continue our work. Of course, any concerns you may have about construction inconveniences can be discussed with the Site Manager or Customer Service Representative.
Your new home
I have an infiltration, who is responsible for fixing it?
All buildings have a 3-year warranty for hidden defects. This means that if the leak occurs as a result of a installation hidden failure, you must inform the administrator and the repair will be done at no additional cost. If the leak occurs as a result of something you did (or did not do), we offer you our support throughout the process at minimal costs.
I would like to mount exterior shutters on my window, am I allowed?
Any change that may affect the exterior image of the buildings must be approved by the administration of the complex. You will be able to make a request that can be approved, or we can put you in touch with a provider who has already been vetted to do a similar job.
How is the warranty affected if I make changes inside the house?
This depends on the changes you want to make and whether you are working with an approved provider. Usually, a change that leads to malfunctions is your responsibility. However, if, through the work performed, you discover hidden defects, the warranty remains intact.
What should I do if I want to make changes inside the house?
If the changes do not change the appearance of the building, do not affect the structural elements, and have no impact on the infrastructure, you can do them without a problem, following the normal course. However, it is always preferable to seek our advice.
Avalon Estate, a project in development
What are the main stages of the development process and
what are the statuses of permits and authorizations?
We obtained the Building Permit and started the works. Their completion will be certified by the reception of the buildings. After the reception phase, the buildings will be registered at the Cadastre Office. We will then take the necessary steps to prepare the documents for concluding the Sales and Purchase Agreements.
How can I monitor the development stage of the project?
If you are interested in our progress, you can agree to subscribed to our monthly newsletter, through which we will inform you about the stages in the permitting process and the progress of the works on the building site.
What is the energy performance of units in Avalon Estate?
Before completing the purchase, we will give you all the information about the energy class of your new home, as it is noted in the certificate. According to the regulations in force, the energy performance certificate will be issued after the registration of the property in the land book.
The management of the Residential Complex
Who will manage the project after the final reception?
The management of the Residential Complex will be ensured for a period of at least five years from the final reception by a subsidiary administration company of the Seller. We want each of our customers to be very satisfied and to enjoy the newly purchased home, to make sure that we offer a quality product.
What are the management services and related costs after
we move in?
Management services are required for the operation and maintenance of Avalon Estate, namely utilities, garbage collection, cleaning, landscaping, street lighting, elevator maintenance, plumbing and electrical installations, security and access control, snow removal, current repairs and more. The cost of these services will be established at the time of the signing of the contract at a price comparable to the market average for such services.
Will there be a waste collection service in Avalon Estate?
Sanitation services are provided daily in Avalon Estate. All garbage will be stored in containers, which will be positioned so as not to affect the pleasant appearance of the neighbourhood.
Who will be responsible for the maintenance of green spaces?
The responsible management company will take care of the entire maintenance process of the landscape space for the common spaces.
Life in your community
Will there be a Code of Conduct of the complex, so all residents can enjoy a pleasant atmosphere?
Of course, this will be an annex to the Pre-Sales and Purchase Agreement. This set of rules aims to establish the general conduct for all residents so that they enjoy a good neighbourhood and a pleasant and safe atmosphere.
What are my rights when the neighbour plays loud music?
Your neighbour must follow the rules of conduct of the complex and any violation must be reported to the administration. All rules are agreed and discussed in advance, when signing the Reservation Contract.
Someone in the building has a dog that is always locked in the house and barks in the morning, at noon, in the evening and at night. What can I do? I work from home and it bothers me.
Although the rules allow the presence of pets in the complex, each owner is responsible and must ensure that the animal does not disturb the other residents. The property manager will talk to the owner and find an amicable solution together.
Is there a speed limit for cars within the complex?
The speed limit inside the Avalon Estate is 10km/h, which ensures a safe environment for children and families in the community.
Who will have access to the Club?
The Club was designed for the exclusive access of Avalon Estate residents and their guests.
Are pets allowed?
Yes, pets are welcomed in the residential complex.