Most of the time, buying a new apartment in residential complexes from developers in Romanian takes place when the construction is still in the real estate development phase. This involves potential risks related to construction delays, construction defects or unexpected changes in the initial project. Legally, purchasing a property at the real estate development stage involves signing a promise of purchase and sale agreement between the buyer and developers or investors. The Romanian Law Firm Pavel Mărgărit and Associates recommends contactin a real estate litigation attorney in Romania to ensure that the purchase and sale agreement includes contractual clauses that regulate the developer’s responsibilities regarding completing the construction in accordance with the initial specifications and provides protection for the buyer if the developers fail to meet delivery deadlines or modifies the initial project without their agreement generating building defects or construction defects.
Currently, concluding a real estate sales agreement or real estate purchase agreement with developers and investors in Romania concerning a future property located in residential complexes is becoming increasingly common. In this regard, through a promise of purchase and sale agreement, both parties commit to concluding, at a later date, the real estate contracts of the property, with the provision of a deposit. However, the realization of the real estate sales agreement, the real estate purchase agreement and the real estate contracts do not always materialize, which is why Romanian legislation provides a series of remedies available to the buyer in case of non-compliance of obligations by developers or their delayed execution. Among these remedies are forced execution, resolution of the promise of purchase and sale agreement, or cancellation of the promise of property sale agreement with payment of damages and recovery of the amount paid as a deposit, remedies that a real estate litigation attorney in Romania from The Romanian Law Firm Pavel Mărgărit and Associates can successfully invoke in front of the Romanian courts.
The Romanian Law Firm Pavel Mărgărit and Associatesinvites you to confidently use our services to assist you in property dispute and real estate litigation arise from land contract against developers and investors in Romania by completing the contact form through a simple access at the address https://avocatpavel.ro/contact/.
At the same time, buyers must take all necessary steps to understand the legal status of the property at the real estate development stage in Romania and ensure that the documentation underlying the construction is complete, and the construction permit is legitimate. Among the documents are the land registry extract issued within a maximum of 30 days, the urbanism certificate, and a construction permit, in order to easily identify the location of the property, any encumbrances on the property rights, or disputes noted in the land registry. It is important for the developer to present a valid construction permit because a construction without a permit can have legal consequences for the buyer. Considering these aspects, The Romanian Law Firm Pavel Mărgărit and Associates recommends to contact real estate litigation attorney in Romania who can provide legal assistance in verifying the documentation, interpreting it correctly, and protecting the buyer’s interests in real estate transactions, thereby helping to avoid future real estate litigation and property dispute.
Finally, the handover of the property represents an important legal moment, as buyers must conduct checks both regarding apparent defects that must be immediately reported to the seller and regarding hidden construction defects, identified and inspected by specialized individuals, such as infiltrations, materials used or poor quality finishes, inadequate heating systems. real estate litigation attorney in Romania can provide legal assistance in the process of concluding a land contract, thus allowing the buyer to eliminate defects by the seller or at their expense, replace the sold property with one of the same kind but free of building defects, reduce the price accordingly, or even cancel the sale due to the existence of hidden defects.
Pavel, Margarit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2023, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Margarit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2023 guide. Additionally, Pavel, Margarit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Margarit and Associates Law Firm can be found on the website www.avocatpavel.com.