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How to accept an apartment from builder-company, built by equity agreement construction Printable version

Last update: 04.06.2024

apartment without renovationFirst of all, carefully read the Law of the Republic of Kazakhstan "On Equity Participation in Housing Construction". It is important as the relationship between a developer and a buyer of a housing under construction is regulated by the law.

In this case, two crucial aspects should be considered:

1. A developer or an authorized company should have a permit to attract money from shareholders issued by a local administration (Akimat), or a guarantee from a single operator (Kazakhstan Housing Company);

2. The agreement is concluded only under the Co-investment agreement. Preliminary, investment and other types of agreements are illegal.

The co-investment agreement is concluded in three copies and comes into force from the moment of registration at the local administration (Akimat).

Make sure that the agreements has been registered. An extract of the registration record is sent by mail or delivered personally against receipt. In case of unconfirmed registration, contact a developer.

What should be undertaken before checkup and acceptance of apartment?

And if you are still committed to purchase an apartment in a new building, then the next step is to find a suitable residential complex and a reliable construction company. Where to begin? Definitely, start from surfing the Internet. Besides from information about an object itself (location, stage of construction, type of house, etc.), also study a developer`s reputation. Which facilities have already been built, have there been any high-profile scandals involving the developer, and how successfully the objects are being sold. Read reviews about a residential complex and a developer on the forums or talk to those who have already bought an apartment there. An official website of a company should provide information about a customer, general contractor of construction, permits and licenses. If there are no such documents on the website, then ask the manager to provide those to you. Also find out if the developer has partner programs with banks. ZhylStroiSberBank is especially active in this regard. Thus, a mortgage can be provided for a residential complex that has not been put into operation.

What should you check while acceptance of new apartment?

Monitoring the construction progress

If any defects were identified while acceptance of apartment

When the builder and equity holder carry out their obligations by agreement?



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