The Real Estate Commission of the Society of Consumers of St. Petersburg and the Leningrad Region has compiled a memo for those who are going to
buy an apartment in St. Petersburg. The document lists the main changes in the share legislation that came into force on July 1.
After July 1, 2019, everyone who plans
to buy an apartment in St. Petersburg in a house under construction, will choose from several groups of developers.
1. Developers attracting funds from participants in shared construction to their own accounts in authorized banks. This is the largest part of the developers. Such companies meet the criteria set by the Government of the Russian Federation, i.e. their object has more than 30% construction readiness (for certain categories - 15% or 6%) and more than 10% sold under agreements for participation in shared construction of apartments, non-residential premises and parking spaces in houses under construction. Prices in such new buildings, at least in the near future, should not increase significantly.
2. Developers who do not meet the above criteria and have switched to a scheme to raise funds from participants in shared construction using escrow accounts. Since the money on these accounts will be in authorized banks until the completion of construction, developers will be forced to attract bank loans. It is by the value of the interest rate on such loans, at least, that the cost of apartments in such new buildings will increase. This is the price of guaranteeing the return of money to equity holders by banks.
3. Developers, not meeting the established criteria in order to attract money from equity holders without using escrow accounts, but for various reasons unable to attract credit funds from authorized banks. This is the most risky group for potential buyers. Currently, mechanisms are being developed to provide them with assistance at the expense of credit funds received from Bank DOM.RF JSC, the Fund for the Protection of the Rights of Citizens - Participants in Shared Construction or organizations established by constituent entities of the Russian Federation.
4. Developers building apartment buildings at the expense own or borrowed funds and selling apartments after the facility is put into operation. This is the most reliable way to purchase apartments in a new building, but you need to understand that the price in such houses will be significantly higher than in similar ones. built with the involvement of money from equity holders. Only a few developers operate under this scheme.
5. Developers completing the construction of apartment buildings under the scheme of housing construction cooperatives. Given that such a scheme can be used subject to obtaining a building permit only until July 1, 2018 (currently, this method of raising funds by the developer is excluded from 214-FZ), the number of such new buildings is small. I draw your attention to the fact that since October 2019, housing cooperatives that carry out the construction of an apartment building at the expense of members of the cooperative are required to post the relevant information in the unified housing construction information system (UIIS). Nevertheless, the housing cooperative scheme, despite the numerous recent changes in legislation, remains quite risky.
What changes in legislation after July 1, 2019 is it important for participants in shared construction to know?
construction, are required to make special contributions for each agreement on participation in shared construction (DDU) to the Fund for the Protection of the Rights of Citizens - Participants in Shared Construction. This increases the degree of protection of the rights and interests of equity holders.
•Developers have the right to enter into DDUs in the period between the date of obtaining permission to put the object into operation and putting the object on cadastral registration. For such contracts, the requirements for the use of escrow accounts and payment of contributions to the compensation fund do not apply.
•Payment to developers, including those who received construction permits before 07/01/2018, for all concluded DDUs it is made only by bank transfer.
•The scope of information that must be placed in the unified housing construction information system (UIIS) has been expanded. Most of it is available to participants in shared construction.
•The requirements of 214-FZ and the Law on Insolvency (Bankruptcy) are extended to non-residential premises with an area of \u200b\u200bno more than 7 m2 (storage rooms) and parking spaces.
•If, when attracting escrow accounts are used, the content of agreements for participation in shared construction should additionally provide for the following terms of the agreement: owned by the developer and under construction on this land plot of an apartment building and (or) another property that is the subject of pledge.
- declaring the developer bankrupt and opening bankruptcy proceedings
- entry into force of the decision of the arbitration court on the liquidation of the legal entity - the developer.
I would like to draw your attention to the fact that in the event of the grounds for refusal of the shareholder from the DDU, due to the requirement of the creditor to fulfill obligations under the loan agreement (loan agreement) ahead of schedule and to foreclose on collateral, the developer is obliged to notify the bank where the escrow accounts are opened , and post such information in the EIIHS within 5 working days. And the bank, in turn, within 10 days informs the interest holder - the owner of the escrow account about the existence of such grounds for a unilateral refusal.< br>
•In turn, equity holders have additional grounds for terminating the escrow account agreement under the agreement on participation in shared construction:
- upon termination of the agreement on participation in shared construction;
- upon cancellation of the participation agreement in shared construction unilaterally
•An additional plus for equity holders is the strengthening of control over the developer's activities by the Fund for the Protection of the Rights of Citizens - Participants in Shared Construction and authorized banks. This to some extent compensates for the fact that, since 2019, the executive authorities that supervise and control shared construction in the regions have carried out scheduled inspections of persons raising funds from participants in shared construction for the construction of apartment buildings, are not carried out. At the same time, the grounds for conducting unscheduled inspections of developers have been expanded.
What the consumer needs to know about escrow accounts:
1. A participant in shared construction cannot choose the bank in which he/she will open an escrow account. The choice of an authorized bank is the prerogative of the developer.
2. The escrow account is opened on the basis of a tripartite bank account agreement, which is concluded between the bank, the developer and the participant in shared construction.
construction.
4. The obligation of a participant in shared construction to pay the price stipulated by the contract is considered fulfilled from the moment funds are received on an escrow account opened with an authorized bank.
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