You must visit a notary's office to sign the home purchase agreement. The parties to the contract are the buyer, the developer, and the lender (or bank).  This tripartite agreement is signed at the notary's office, granting the buyer the right to purchase the property. Ownership will be transferred to the buyer upon completion of the development, according to the terms of the agreement.

Requirements

To sign a contract for the right to purchase a home, you must have:

• Identity document
• Mortgage loan agreement signed with a bank

The Contract

• Personal data of the parties
• Information about the building under construction
• Rights and obligations of the parties
• Sale price and payment method
• Expected completion date and potential penalties for construction delays
• Condition of the property at the time of handover (including interior wall layout, window and door installation, utilities, etc.)

Procedure and Deadline for Submission

• The bank representative will inform the buyer in advance about the terms of the signing at the notary's office.

• The building plan is a required attachment to the contract and must be signed by all three parties and notarized.

• The home purchase agreement is provided immediately upon signing.

Attention

After signing the contract for the right to purchase a home, it is mandatory to apply to the State Cadastre Committee within 30 working days to register the right to purchase.

Amount and Payment Method

Complete information about the fees required for the contract to acquire the right to purchase an home can be obtained at a notary's office or through a bank representative.

Reference to Legislation

• RA Law "On Notary"
• RA Law "On State Duty"

Legal acts can be found at arlis.am