Home/Blog/ Guide to the Real Estate Purchase Process

Guide to the Real Estate Purchase Process

September 3, 2025

image

Purchasing real estate is a significant and responsible step that requires thorough planning and informed decision-making. Whether you are buying a home for the first time or seeking an investment opportunity, this guide will help you understand the key stages of the purchase process and avoid common pitfalls.

Assessing Your Financial Capacity

Before buying an apartment, evaluate your financial situation:
Calculate your budget, considering your income, savings, and potential loan obligations.
If you plan to take out a loan, contact banks to explore loan terms, interest rates, and down payment requirements. In Armenia, banks typically require a 10-30% down payment.
Account for additional costs, such as notary fees, taxes, property appraisal, and registration expenses.

Market Research

Determine the location where you want to buy property, considering factors such as transportation accessibility, infrastructure otocեն infrastructure (schools, shops, hospitals), and the potential for property value appreciation.
Research property prices on Armenian real estate websites. Compare similar listings to understand the average market price.

Property Selection and Inspection

Arrange property viewings, paying attention to the building’s condition, renovation needs, utilities, and the neighborhood.
Ensure the property has no legal issues. Request the property title certificate and verify it with the State Committee of the Real Estate Cadastre of the Republic of Armenia.

Finalizing the Transaction

In Armenia, a deposit (typically 5-10% of the price) is usually paid first to “reserve” the property. At this stage, a deposit agreement is signed. The purchase agreement is executed at a notary’s office. Ensure that the agreement clearly specifies all terms, including the price, payment procedure, precise description of the property, and the rights and obligations of the parties. Payment can be made via bank transfer or in cash. If using a mortgage loan, the bank may transfer the funds directly to the seller. The transaction is considered complete when it is registered with the Cadastre Committee, and the property ownership rights are transferred to the buyer.

Key Advice

Take your time selecting and inspecting the property. Consult professional realtors, lawyers, or appraisers to avoid mistakes.
Buying real estate may seem complex, but with the right approach, it can become a successful and well-calculated investment.

Did this article helps you?

Related articles