Selling an apartment involves a series of essential steps, both before the transfer of ownership and after the transaction, from preparing the documents to completing the sale contract and fulfilling post-sale obligations.
Whether you are looking for an apartment for sale or simply want to explore the market, the information you gather may prove useful in the future.
- 🧾 Selling an apartment requires complete documentation, from the ownership deed, cadastral plans, land register entry, land register extract, and energy certificate, to their verification and authentication at the notary.
- 🖋️ After signing the contract, there are mandatory procedures, such as notifying the homeowners’ association, handing over the keys, transferring utilities, updating the fiscal record, and deregistering from local taxes.
- ⚖️ The process is completed through land registration and updating the land register, and the seller must comply with the tax obligations regarding the taxation of the income from the sale and keep all documents for future legal use.
📑 Immediate procedures after signing the sale contract
If you are exploring housing options, from studio apartments, 2-room apartments, 3-room apartments, to 4-room apartments or even garden apartments, to find the perfect space for your future needs, you should know that after you sign the sale-purchase contract, you must follow a few important steps to complete the transaction.
The first steps after selling-buying an apartment
- First of all, you must notify the homeowners’ association about the change of ownership, providing all the details of the new owner. This way, the association will be able to update the records and send the bills to the correct person.
- When you hand over the apartment, make sure to give all the keys (including those for the entrance, mailbox, and basement). It is recommended to draft a handover report in which you note the condition of the apartment and the items included in the sale.
- It is also important to check and transfer the utility contracts to the name of the new owner (electricity, gas, water, internet) to avoid service interruptions.
- Don’t forget to deregister from local taxes by submitting a declaration to the local tax administration within 30 days.
Changing the fiscal record and notifying the authorities
Changing the fiscal record is mandatory and must be done within 30 days from the sale to avoid penalties. You must inform the Local Taxes and Fees Directorate (DITL) about the transfer of ownership so that taxes will be paid by the new owner.
To do this, go to the DITL office in the area where the apartment is located with the sale-purchase contract (original and copy), your identity document, and other required paperwork. Keep the submission proof to show that you respected the legal deadline.
You must also notify other institutions, not just the DITL.
- The homeowners’ association must be officially informed about the change of owner, in order to transfer the responsibilities related to maintenance.
- You must also notify utility providers so you can close the old contracts and allow the new owner to create new ones.
This procedure is essential to properly complete the sale and avoid issues with taxes or other financial obligations. If you do not make these notifications, confusion may arise and the former owner may face unwanted financial responsibilities.
The actual handover of the apartment
The physical handover of the apartment is the moment when you effectively transfer the property to the buyer. At this stage, you must carefully inspect the property and make a list of all the items included in the sale.
The handover report is an important document that protects the interests of both parties. It must describe in detail the condition of the apartment (including any defects), list all items remaining in the property, and confirm that all installations and equipment are functioning.
It is essential that both parties inspect the apartment together and agree on its condition before signing the report. Any disagreements arising later may lead to costly disputes. The report signed by both parties is proof that the buyer accepted the condition of the apartment and the list of items.
💰 Tax obligations and declaring the income from the sale
When you sell an apartment, you have certain tax obligations that you must comply with. These depend on how long you have owned the property and on the value of the transaction.
In general, income from selling a property is taxable, with some exceptions provided by law.
- If you have owned the apartment for less than 3 years, an income tax of 3% of the sale price applies.
- If you have owned it for more than 3 years, the tax is 1% of the sale price.
If you sell several apartments within short periods of time, you must declare the income from the sale to the National Agency for Fiscal Administration (ANAF) by submitting a tax declaration within the established deadline. In this declaration, you will state the income obtained and calculate the tax due for selling the apartment, according to the law. You may be classified as carrying out economic activities, and other forms of taxation may apply (income tax, social contributions, etc.)
It is important to seek advice from a tax specialist to ensure that you comply with all legal obligations.
Completing land registration and updating the land register
Land registration is the final official step in the transfer of ownership. Through this procedure, the new owner is entered into the Land Register. The public notary handles the submission of the necessary documents to the Office of Cadastre and Land Registration (OCPI).
For land registration, you need:
- a notarized copy of the sale-purchase contract;
- the identity documents of the parties;
- other documents required by the OCPI.
After submission, the OCPI will verify the documents and enter the new owner into the official records.
Updating the land register usually takes a few weeks, depending on how busy the OCPI is and on the complexity of the case. You can speed up the process by paying an urgent processing fee, which can reduce the waiting time to a few days.
After completing the land registration, the new owner will receive an updated land register extract, which officially certifies that they are the owner of the apartment. This document is essential for any future transactions, for obtaining mortgage loans, or for other legal procedures.
Successfully completing all these steps ensures a smooth real estate transaction. Make sure you have all the necessary documents, respect the deadlines, and do not hesitate to seek specialized help when needed. This way, you will avoid complications and enjoy the result of selling your apartment. Don’t forget to keep all documents related to the sale in a safe place, as they may be needed in the future for various administrative or legal purposes.
