Way to Russia Talk Lounge

Mark · Frequent Guest Joined: 25 Mar 2004 Posts: 53

Iv'e been given sound advise about how to live here visa wise.
Now i need some more sound advise.
Im thinking of buying a flat here,since i don't have any work documents as such also my wife doesn't but we both work.What luck will have when we try and get credit.
As anyone done this before in here..

linguist · Posted: Mon May 16, 2005 7:03 am Post subject:

Credit, what's that?
Seriously, I don't know. I was just under the impression that everything is still payed in full, including cars and housing.
Try www.expat.ru. That site may be able to point you in the right direction.

Daria · Posted: Mon May 16, 2005 8:55 am Post subject:

Depends where you are planning on buying.

mister_wizzz · VIP Joined: 27 May 2004 Posts: 559

Right. No credit and no electronic money transactions.
One of my friends in Russia bought a flat in Samara 35000 USD and he told me he brought to the owner a bag full of dollars Smile

May be there is some exceptions but full payment and cash are the rules.

Daria · Posted: Mon May 16, 2005 9:04 am Post subject:

Geeeeee,is it still that bad?

mediashark · Moderator Joined: 04 Nov 2004 Posts: 1601

Mediashark's currently in the proccess of buying a flat the--gasp!--legal way. Will let you know how it goes.

tdk2fe · Posted: Mon May 16, 2005 8:06 pm Post subject:

Don't count on getting credit in Russia. It seems like a lot of Russian's that i've spoken with who've come to the US were dumbfounded by the very idea that you could buy something and promise to pay it back at a later date. I remember speaking to some people from St. Petersburg, and they told me when they first got to the states they got some sort of magazine offer in the mail that said they had to pay nothing up front. They thought this meant that the magazines were all free, and placed several subscriptions. After six months or so, they were surprised to learn that they did indeed have to pay back the money that the magazines cost them.

So, I guess what i'm trying to say is that credit, the way americans think of it, is very rare, if not nonexistant.

mediashark · Moderator Joined: 04 Nov 2004 Posts: 1601

If you're saying credit in terms of loans etc, then it is possible. There are several banks that gives housing loans. Of course it's common sense that you have to pay up eventually +interest. We went for a loan because we were tired of paying rent and living in someone else's apartment.

But of course, cash payments often stay when it comes to handing over the money to the owner and cold-hard-cash transfers still have to happen at one point of time or another.

What luck will you have? You'll have to visit a bank that does housing loans find out their terms and conditions. They'll discuss your situation 1-on-1 and suggest something.

And no, it really isn't *that* bad. And oh, having a big budget helps too.

PM if you need more advice. I'm not about to give away more personal info publicly.

Mark · Frequent Guest Joined: 25 Mar 2004 Posts: 53

Daria · Posted: Mon May 16, 2005 9:32 pm Post subject:

I have a house and a small piece of land in Russia.Got it from my great-great-grand...It's in a real sh.t hole.I do not even know what to do with it..
It doesn't sell.Such a waste Evil or Very Mad

Vic · Posted: Mon May 16, 2005 10:24 pm Post subject:

Daria · Posted: Mon May 16, 2005 10:36 pm Post subject:

mediashark · Moderator Joined: 04 Nov 2004 Posts: 1601

In our case the bank would rather give us a loan if we wanted a second hand apartment than a brand new one!

Why?? Cos 'new' often means semi-completed. Sometimes these housing projects are left unfinished and this will cause problems with the banks.

Loan free... I wish too but I can't cough up 3 million rubles right there and then without starving... and meanwhile rental is killing me.

Anyway I still need the metal suitcase with handcuffs to transfer the down payment. Smile

mediashark · Moderator Joined: 04 Nov 2004 Posts: 1601

Hey Dariya--my in laws live there In Belorechensk! Shithole, yeah, but very nice climate and practically everything can be grown there. We visited last summer and also went to Alder for sand and sea. Smile

There're lots of people renting out their houses there to tourists.

Mark · Frequent Guest Joined: 25 Mar 2004 Posts: 53

Getting a loan seems to be no problem at all,soon we will be getting the green light to start moving(i hope).
About new flats we was told the problem with them is the registraion,it takes about year for it to pass all the saftey checks,which means you might not be registered anywhere till the building passes..
To get around this you just have to register with a relative here for some time....