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The real estate market and the transition to non-cash payments

11.01.2023
The real estate market and the transition to non-cash payments

During the last days of August in the real estate market, specialists recorded significantly fewer calls from buyers, the total number of object views also decreased, however, all this was quite expected.

Since the beginning of September, the entire secondary real estate market has actually and almost completely switched to a non-cash form of transactions. Naturally, this immediately provoked a rather significant drop in business activity. Decreased not only calls, views, applications, but also real transactions. Be that as it may, last week the first transactions were carried out in a completely non-cash form. Several contracts have been entered into with the intent to acquire certain properties.

As practice has shown, when making transactions in a non-cash form, two main settlement schemes were often used. The first scheme assumes that the buyer, even before the actual moment of the start of the transaction, went with the seller to the selected bank and deposited the agreed amount to the seller’s account. After receiving an extract on the bank payment, everyone was sent directly to the notary.

The second scheme for the implementation of the transaction was as follows: before the conclusion of the transaction, the buyer deposited the necessary amount of money into a specialized account, which was provided by a notary. After receiving the relevant bank document regarding the fact of transfer of funds, the notary conducted the transaction. Having completed the transaction in full, he transferred the funds received to the final account of the seller of the real estate object.

In fact, the buyer deposited money without any guarantees of the transaction. Equipment and packaging with stretch film is also easier to buy for cashless payments. Packing Systems CJSC, which has been operating on the Russian market for 15 years, will help you solve this problem.

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