Buying a home on designs in Algeria
Who is the Algerian real estate promoter
A real estate promoter is every natural or legal
person who initiates the operations of building new projects, renovating or
rehabilitating, renovating or restructuring, or strengthening buildings that
require one of these interventions, or preparing and rehabilitating networks in
order to sell or rent them
Who can be a real estate promoter
Every natural or legal person, obtaining
accreditation, affiliated with the Mutual Guarantee and Warranty Fund in real
estate promotion and registered in the national list of real estate promoters,
who practices the activity of real estate promoters
What is the real estate promotion field
The real estate promotion activity includes every
process of realizing a real estate property for residential or professional
use, all the acquisition and preparation of real estate containers for the
purpose of construction, every process of preparing, rehabilitating,
renovating, restructuring, or consolidating buildings
What is selling on designs
Sale on designs for a building or part of a building
to be built or in the process of construction, whereby a contract called a
design sale contract that includes and enshrines the transfer of land rights
and ownership of buildings by the real estate promoter for the benefit of the
subscriber parallel to the progress of the works, and in return, the subscriber
is obligated to pay the price As the achievement progresses
What is the difference between a contract of sale on designs and a contract of preservation of rights
The right-reserving contract is the contract through
which the real estate promoter is obligated to hand over the property to be
built or under construction, to the owner of the right-custodianship,
immediately upon its termination, in return for an advance paid by the latter,
not exceeding twenty percent (20%) of the estimated price of the property. The
advance is deposited from an account opened in the name of the owner of the
right to preserve the right, with the escrow fund, and the ownership of a
property that is the subject of the right-keeping contract is not transferred
until the date of the final payment of the price of the preserved property. The
construction, so that the payment is parallel with the progress of the works
What is the interest of the real estate promoter in selling on designs
Selling on designs gives the real estate promoter many
advantages, mainly
**The possibility of financing the real estate project
through the repayments paid by the owners without resorting to a bank loan that
requires a mortgage
What are the conditions that must be met in the real estate promotion for sale on designs
In addition to selling designs, the following
conditions must be met in the real estate promotion
1Obtaining accreditation, affiliation with the fund
and registration in the national list of real estate promoters
2Subscribing a guarantee for his real estate project
with the Guarantee and Mutual Guarantee Fund in the real estate promotion
3Conclusion of the sales contract on the designs with
the acquirer
What are the mandatory provisions that must be included in the sales contract on designs
1Designs must be included in the sales contract
2The legal formalities of real estate registration and
publicity
3Elements that prove promotion (accreditation,
affiliation, registration with the national list of real estate promoters)
4Items that prove the original land ownership and
building permit
5A detailed description of the building or part of
the building that is being sold; - the estimated selling price, the payment
schedule in accordance with the regulatory model
6Nature and legal guarantees, ten years and good
performance, as well as the fund's guarantee certificate
7terms and conditions for rescission or termination
of the contract
8How to review the price if there is an agreed
clause
What are the terms of payment in the context of selling designs
Sale price payment in sales contracts is set to
designs
According to the progress of the project completion
works in accordance with the payment schedule stipulated in the contract
It should be noted that the payment of the first part
is only after the conclusion of the sales contract on the designs
Is there a contract after the sales contract for me designs
No, the contract of sale on designs is a complete
ownership contract, which is not followed by any other contract. After
receiving the completed property
Who is responsible for managing the common
property after handing over the property?
The real estate promoter is obligated to guarantee or order the property management guarantee for a period of two (2) years starting from the date of selling the last part of the building
He must also commit to
completing the necessary premises for property management and the doorman's
residence, under the title of common areas
The National List of Accredited Realtors
https://www.fgcmpi.org.dz/Affiliation_en