The Contract

One important factor in providing financing to buy a home through cooperatives is a mandatory membership in a cooperative shareholder of at least two years. In this case the shareholder must all wait to pay membership dues regularly. In the program “Housing move ‘expectation is to find matching partners for joint purchase of an apartment, which is much faster. The participant program can influence the process and speed it up. In this case, there are no fees and expenses for this period. The program is interested in an early meeting of all participants.

Investing in savings cooperatives is an increased risk for shareholders, because in case of insolvency and closure of cooperatives are no mechanisms to ensure repayment of invested funds. Bankruptcy organization – is the inability to meet its obligations. Obligations of the cooperative is to return the personal savings of citizens who were issued a mortgage loans to members of the cooperative. In the case of co-op, the risk of shareholders depends on its existence. The program “Housing step” there are no direct financial obligations to the participants. It serves only the organizer of interaction. The contract clearly describes the scheme for further cooperation between the participants, in case of force majeure (closing of the Programme), with no financial loss and damage. Mechanism continues to function initial conditions directly between participants in the program.

The deal is transparent and understandable for each of the participants, providing further interaction and completion of the transaction in such a way as it was planned. 11 in the program “Housing move” each participant receives a reliable supply of their investment. Buyer – is the ownership of the apartment, for investors and buyers, tenant – a contract pledge and mortgage, which guarantee the impossibility of taking any action on the resale and disposal of the apartment without their consent. In addition, in case of default on repayment of invested funds (payment by the Purchaser), these documents provide a procedure for foreclosure of the mortgaged property, in which the mortgagor guaranteed return on investment. Mortgage, provided legal purity of the transaction (title insurance) and a correct evaluation of the real estate is a fairly reliable form of security commitments.

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