
Real Estate Buyer: Types, Rights and Responsibilities
Real estate buyer is an individual or legal entity that acquires a real estate property (residential property, commercial property, land) for its own ownership or use.
Buyer types include:
Private:
- Ordinary citizens purchasing housing for themselves or their families.
- Main motives: expansion of living space, improvement of conditions, purchase of first home.
Investors:
- Purchase for the purpose of generating income (rent, resale).
- Liquid properties in popular areas are often chosen.
Corporate:
- Companies purchasing real estate for office, production or commercial purposes.
- Motives: strategic investments, business expansion.
The buyer has the right to receive complete and reliable information about the purchased property, including legal purity and ownership history. He also has the right to refuse the transaction if significant violations are detected on the part of the seller or to demand the elimination of deficiencies or a reduction in price if hidden defects are discovered.
Responsibilities:
Pay the cost of the property on time in accordance with the contract.
Comply with the agreements on the terms and conditions of the transaction.
Ensure the registration of the property rights with the state registration authorities.