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The process of signing the subsidized house agreement is always a moment of relief. The journey of finding the right home is often a tiring one. It's not easy to find a house that fits both the criteria and the budget.
Much like with regular commercial homes, there is a series of processes that must be completed before the house agreement becomes official. Let’s take a look at the process for subsidized house agreements below.
Requirements for a Subsidized House Agreement
Before all parties involved can sit together and sign the agreement, there are several requirements that must be met. Smooth cooperation between the buyer and the seller is crucial for the process to go smoothly. That’s why it is important to choose a trusted subsidized housing developer like Ingria Group.
Requirements for the Buyer
The documents that the buyer needs to prepare are as follows:
- Personal documents required: ID card (KTP), Family Card (KK), marriage certificate (if married)
- Taxpayer ID (NPWP)
- Health Insurance BPJS
These three documents are the most commonly required. However, make sure to check with the developer and the bank you choose, as some may require additional documents.
Requirements for the Developer or Seller
The documents the developer or seller must prepare are as follows:
- Building Permit Certificate (IMB)
- Land Certificate
- SKMHT (Power of Attorney to Provide Collateral Rights)
- Debt Acknowledgment and Power of Attorney to Sell
- Deed of Sale and Purchase (AJB)
- Insurance Policy (if applicable)
As the buyer, you should also check the completeness of these documents to ensure your rights are protected and avoid any issues in the future.
Parties Involved in the Subsidized House Agreement Process
Here are the parties that must be present during the signing of the agreement:
Home Buyer
You, as the homebuyer or debtor, must be present at the agreement signing. If you are using the joint income method with a partner, both you and your partner must be present.
Home Seller
The home seller must also be present during the agreement. If you are purchasing a home from a developer, they will typically assign a representative to handle the agreement process with you.
Bank
In the case of a house purchased with a mortgage (KPR), the bank plays the role of the lender. The bank is also required to be present during the signing as some documents need to be signed by the bank.
Notary
The sale and purchase agreement is not valid or legally binding without the involvement of a notary. The notary can be chosen by either the buyer or the seller. The notary is the one who will verify the completeness and legality of all required documents.
Subsidized House Agreement Process
You can only proceed with the agreement after the bank has approved the mortgage application. Once the loan is approved, you will be informed about the approved financing amount, the loan term, and the monthly installment amount.
After agreeing on these terms with the bank, you will begin to interact with the notary. The notary will inform you of the taxes that need to be paid, as well as your rights and responsibilities until your mortgage is fully paid off.
Once all matters with the notary are settled, the bank will begin to schedule the signing process. A discussion will be required to ensure that all parties can attend. As the buyer, you may also bring other family members as witnesses.
That’s the subsidized house agreement process you need to know. If you haven’t found the right subsidized housing yet, subsidized homes in Bandung, Cibubur, or Samarinda from Ingria Group may be just what you're looking for. Contact our marketing team to secure your unit now!
