Is it possible to refuse a mortgage and how to do it

The main goals of the borrower

It is much easier to refuse a mortgage than, for example, a consumer loan. In this case, it all depends on what task the borrower sets for himself.

In most cases we are talking about:

Retaining collateral in your property and obtaining more favorable credit conditions;
Quick closing of a loan without the possibility of retaining collateral in your property;
Preserving the collateral and independently creating conditions to reduce the debt burden.

You can terminate the mortgage agreement either after or before signing it. In the latter case, it is enough to simply inform the bank about your decision. Refusal does not worsen the client’s credit history and is not subject to penalties.

Without payment

How to terminate a mortgage agreement if you haven’t even moved into the apartment yet? It happens that a person changes his mind about taking out a mortgage even before making the first payment. Perhaps he hasn't even had time to move into his apartment yet. In this case, the bank transferred the funds to the borrower’s account, and the borrower, in turn, did not even withdraw the transferred money. In this case, you will have to:

Return the money to the bank that was issued to you.
Pay interest for each day you use the loan. Yes, you didn’t use the money, but you had it.

It is ideal, of course, to refuse the mortgage even before the money is transferred to you, even if the loan agreement itself has already been signed. In this case, you will not have to return the money to the bank and pay interest. It is worth noting that you have every right to take such a step, and the bank cannot interfere with you under any circumstances.

How to get rid of a mortgage - 6 main options

To understand how to get rid of a mortgage loan, you need to consider the 6 most popular and absolutely legal methods.

Method 1. Housing loan restructuring

To carry out loan restructuring, the client must contact the bank with a corresponding application .
It should indicate the reasons why he can no longer bear obligations on the same terms and make his proposals. Along with the application, you must provide documentary evidence of your decision. This could be certificates of income, health status, loss of permanent employment, etc.

Having considered the application, the bank can offer several options for resolving the issue - for example, providing a credit holiday, increasing the mortgage term or reducing the amount of the monthly payment.

In addition, many financial institutions develop individual restructuring conditions for their clients, taking into account the situation with the loan, the size of the remaining amount and the financial situation of the borrower (both current and future).

Method 2. Refinancing

If you don’t know how to get rid of the mortgage and stay with the apartment, use the refinancing service . This is a special procedure that involves taking out a new loan to repay an existing one.

Any financial institution is suitable for refinancing - both the one that issued the previous loan and the one that offers more favorable conditions.

In addition, the client can use maternity capital or apply for a government subsidy.

Method 3. Transfer of debt to another person

According to the legislation in force in the Russian Federation in 2020, a borrower who wants to get rid of a mortgage has the right to transfer it to another person.
To do this, he must obtain the consent of the lender, who will perform a thorough check of the new borrower.

At the same time, the primary debtor remains a full-fledged participant in the credit legal relationship. Depending on the terms of the mortgage transfer agreement, he will bear subsidiary or joint liability.

Despite the fact that the further “fate” of the collateral is decided by all parties to the transaction and is considered individually, the final word remains with the financial organization.

In some cases, the collateral property is retained by the debtor, in others it becomes the property of the new borrower (in this case, the former client is released from all obligations to the bank).

Method 4. Selling mortgaged housing

How to legally get rid of your mortgage and possibly get additional income? If the borrower does not plan to keep the collateral in his ownership, he can sell it to an outside party.

However, to do this, he must obtain the consent of the financial institution where the loan was issued and choose a sales method:

With the replacement of the borrower - consists of transferring the apartment and debt obligations to a new payer. As for the former client, he receives the agreed amount and is freed from all obligations. A replacement of this kind is accompanied by the re-registration of the property at the registration chamber and the re-conclusion of the mortgage agreement. It is worth noting that banks are not very fond of such procedures, because each new borrower has to be checked for solvency.
With early repayment of the mortgage - involves the advance repayment of the mortgage loan by the potential buyer, upon completion of which the housing becomes his full property.

The sale of mortgaged housing can be carried out by:

The debtor himself - he will have to independently look for a buyer, collect all the necessary documents and monitor compliance with the terms of the transaction;
Real estate office - engaging an intermediary gives potential buyers much more confidence, because the procedure is controlled by professional lawyers;
Bank-lender - all responsibilities for the sale of mortgage real estate fall on the shoulders of bank employees.

Selling housing with encumbrances is a labor-intensive and very complex process. To attract buyers, sellers are forced to significantly reduce its price. This is a significant disadvantage, because sometimes the amount received from the sale is not even enough to pay off the debt.

Method 5. Renting out real estate

How to get rid of a mortgage in Sberbank or any other financial organization? To repay the debt, some borrowers use income received from renting out the collateral property to third parties.

As in most cases, the conclusion of such an agreement requires the consent of the creditor . However, many prefer to bypass this issue, hoping that as long as loan obligations are met, the bank will not find out who exactly lives in the mortgaged apartment.

Method 6. Cancellation of mortgage through court

How to get rid of a mortgage if you have no money to pay the installments?
The client may stop depositing funds into the bank account, but in response to this action the financial institution will contact a collection agency or file a lawsuit. In this case, it is extremely important to engage in any interaction with employees of a particular organization. This will be the basis for the court to make a decision in your favor.

Otherwise, the collateral housing will be confiscated, sold at auction and the money returned to the bank . In this case, no (even the most weighty!) arguments of the borrower will be taken into account.

The proceeds from the sale of a mortgaged apartment will be used not only to repay borrowed funds, but also to compensate for losses incurred by the banking organization. Because of this, the former debtor may be left not only without housing, but also without any money.

Many people believe that the lender will not be able to sell the mortgaged property if the debtor has no other property . This is not the case at all.

The maximum a client can count on is to receive an annual deferment. However, this is only possible if the borrower has minor children.

How can a borrower refuse a mortgage: possible options

If the borrower has firmly decided to refuse to further fulfill his obligations under the mortgage loan, he must do this competently and with minimal losses. It is important to take into account all the possible consequences of such a step and prepare for various scenarios.

Option one: notify the bank about financial problems

A borrower who experiences financial difficulties that make it impossible to repay the mortgage on time in the future must notify the lender as soon as possible. It is recommended to confirm this application by attaching documentary evidence, which can include the following official papers:

a certificate certifying the fact of a decrease in wages (income) of the borrower (issued by the employer);
an extract from the work book containing information about the dismissal or layoff of the debtor;
information about divorce;
medical report on health status;
other documents.

The bank can offer the following solutions to the problem:

change the parameters of the current contract;
reduce the cost of lending (reduce the interest rate);
allow deferment of loan payments;
restructure debt;
otherwise help improve the borrower's mortgage repayment terms.

Often, creditors are ready to accommodate debtors who cite valid reasons that are documented. This is better than bringing the situation to trial.

Option two: stop paying monthly fees

This option cannot be considered preferable. The consequences of a borrower’s unilateral refusal to repay a mortgage could be discussed above. A fine, penalty, deterioration of the credit file are only minor measures that a creditor can take against an unscrupulous debtor. Subsequently, the bank simply takes the collateral property through the court, sells it as soon as possible, and uses the proceeds to compensate for the debt that has arisen.

An important nuance is that the lender initially has no interest in selling the collateralized housing at the best price.

The bank seeks only to reimburse the mortgage debt of the borrower who refused to make loan payments. It cannot be ruled out that the liquidation value of the collateral apartment will be significantly reduced, since the lender, apparently, will want to sell it as soon as possible.

A damaged credit file will become a serious obstacle for the borrower if he later wishes to apply for a loan from any other bank or other financial institution.

Option three: independently negotiate the sale of collateral housing

A borrower who has difficulty repaying his mortgage debt can independently find a buyer and sell him the collateralized living space. This option, of course, is a good solution to the financial problem, but it also has a number of pitfalls:

Many people today are extremely cautious about purchasing mortgaged housing that is secured as collateral. Finding a profitable buyer for such real estate will be very problematic.
In order to interest the buyer in this situation, the seller will be forced to significantly reduce the price. This circumstance may result in a lack of proceeds to fully repay the mortgage debt.
We should not forget that the borrower does not have the right to independently dispose of the mortgaged property that is secured as collateral.
To sell a home with such an encumbrance, the borrower must obtain the consent of the lender, who is the official holder of the collateral.

Is it possible to refuse a military mortgage?

According to Russian law, only those military personnel who signed a contract before January 1, 2005 can refuse a military mortgage .
All other issues are resolved through the court. As you can see, there are several ways to terminate a loan agreement. To avoid problems, assess your own capabilities in advance and try to avoid delays.

It should also be noted that a peaceful solution to the problem is the most profitable option, so if financial difficulties arise, it is better to immediately contact the bank employees.

Remember, any financial institution is interested in timely repayment of loans, so they will offer you the most optimal solution.

Video: How to get rid of a mortgage?

The main goals and objectives of getting rid of a mortgage loan

Not everyone understands, but getting rid of the mortgage burden is often much easier than getting rid of a consumer loan. However, everything is determined primarily by the goals and objectives that the borrower seeks to achieve.

Most often, mortgage borrowers set the following goals for themselves:

Preserve the collateral in the property, but at the same time achieve changes to the terms of the mortgage agreement. This will help reduce the credit burden and service the loan on more favorable terms.
Maintain ownership of real estate or land and independently achieve a reduction in your loan burden. This can be achieved by refinancing your mortgage.
Pay off your mortgage as quickly as possible. In this case, it does not matter to the borrower whether the collateral remains in his ownership.

At its core, a mortgage is a rather complex form of lending. Such a loan includes two types of legal relations: regarding the collateral and directly regarding the loan. These two parts are interconnected, so the goals that the borrower sets in relation to them when deciding to get rid of the mortgage also depend on each other.

In most cases, you have to choose whether or not to retain ownership of the collateral. The decision made determines what measures to take in the current situation.

The easiest way to get rid of a mortgage loan is if the borrower is ready to lose the collateral. In this case, it is the property that will be able to ensure the fulfillment of obligations.

If it is important to maintain ownership of real estate or land, the situation becomes more complicated. You will have to independently find a source to pay off the mortgage, refinance it, or try to negotiate with the bank.

Before you begin choosing a method for releasing your credit obligations, you should pay attention to the possibility of resolving this issue with the help of insurance . Most borrowers take out a life and health insurance policy. Moreover, some of them take out liability insurance, including in situations of job loss or reduction in income.

Insurance payments can help the borrower pay off all or at least part of the mortgage. If the policy has not been issued, or the debtor’s situation is not an insured event, you will have to look for another way to solve the problem.

How to get rid of a mortgage loan - 4 proven methods

The method of release from a mortgage loan is determined primarily by the borrower’s attitude towards the collateral. Therefore, possible options are divided into groups depending on this.

1) There is a need to preserve property

If you want to retain ownership of the collateral, you can solve the problem using the following methods.

Method 1. Mortgage restructuring

If a decision has been made to restructure, you should contact the credit institution with an application.

The application for debt restructuring reflects:

reasons preventing you from repaying your mortgage loan on existing terms;
documentary evidence of the circumstances;
expresses a desire to formalize the restructuring.

When the application is reviewed by the creditor, he will make a decision and offer options for exiting the current situation:

during a certain period, the borrower pays only interest, the principal debt is frozen;
increasing the mortgage term and reducing the monthly payment;
interest rate reduction.

The options presented are not exhaustive. Lenders develop individual restructuring terms that suit the current situation and take into account the borrower's current and future financial well-being.

Details about loan restructuring are in our special publication.

Method 2. Refinancing

Refinancing is suitable for those borrowers who took out a mortgage several years ago, when the rate was much higher. Today, most large banks offer similar programs. They renegotiate the terms of the mortgage, lowering the rate.

However, in such a solution to the issue, the presence and size of overdue debt is of great importance. First, in order to arrange refinancing, you should contact the lender through whom you received the mortgage loan. If he refuses, you can go to another credit institution.

Read about how loan refinancing works in one of our articles.

2) There are no plans to preserve the collateral property

If it is not important for the borrower to preserve the property, you can use other methods to get rid of debt:

Method 3. Selling real estate or land

Before selling collateral, you must obtain permission from the bank. The mortgage will be repaid using the proceeds from the sale.

When deciding to sell real estate, you will have to obtain the bank's consent. There are two options: the borrower himself sells the property, or the lender organizes the sale with the client’s permission. In any case, the bank must monitor the transaction.

We wrote about how to quickly sell an apartment in a previous article.

Method 4. Transfer of mortgage debt to another borrower

In such a situation, you will first have to obtain the consent of the bank that issued the mortgage. The creditor checks the new client in the same way as the primary debtor.

Often the primary borrower is not removed from the mortgage relationship. In accordance with the terms of the amended agreement, this client bears joint or subsidiary liability for the loan.

Regarding the collateral, the issue is resolved in accordance with the agreement between the borrower and the bank. In most cases, the scheme of such transactions is developed individually. After this, all conditions are agreed upon between all parties to the transaction. However, the main thing will still be the opinion of the creditor bank.

Most often, real estate relations are resolved in one of the following ways:

the collateral remains with the primary borrower;
upon receipt of the creditor's consent, the property is transferred to the new debtor and remains pledged. In this case, the primary borrower is released from any obligations to the lender.

Take note! Often, borrowers try to get rid of the mortgage by renting out the property. Payments received from tenants are used as loan payments.

However, to draw up a lease agreement, it is necessary to obtain the consent of the bank. But often debtors ignore this requirement, negotiating with the tenant exclusively verbally. Or they sign a lease, hoping the bank won't cancel it. In any case, renting out a mortgaged apartment is not the best option.

As a conclusion, we present to your attention a short table that contains possible ways to get rid of a mortgage.

Termination of a mortgage from a legal point of view

Typically, a housing loan agreement contains a clause according to which the borrower cannot unilaterally terminate the loan agreement. The only way to sever relations with the bank in this case is to obtain permission from the creditor for this procedure, that is, the termination must be bilateral. Whatever the reason that prompted you to initiate separation from the bank, this procedure will be unprofitable for the latter. This means that certain difficulties await you.

There are 2 camps of those who have already repaid their mortgage: those who came to the bank themselves, and those who were visited by bailiffs.

First, fill out an application for termination of the mortgage agreement and take it to the bank. You must notify the lender of any changes in your financial circumstances, and all such notifications must be documented. In court, this document will confirm that you acted in accordance with previously concluded agreements.

You absolutely cannot become a willful defaulter and ignore calls and notifications from the bank. So you will receive fines, penalties, bad credit history and legal proceedings with costs paid at your expense.

Ultimately, the bank may sell the mortgaged apartment. But the amount that will be raised at auction for such distressed real estate may be significantly less than the market value of the apartment and may not even cover your principal debt. As a result, you will be left without an apartment and with debts that the court will collect from your official income.

How to get rid of a mortgage - 6 main options

To understand how to get rid of a mortgage loan, you need to consider the 6 most popular and absolutely legal methods.

Method 1. Housing loan restructuring

Method 2. Refinancing

Any financial institution is suitable for refinancing - both the one that issued the previous loan and the one that offers more favorable conditions.

In addition, the client can use maternity capital or apply for a government subsidy.

Method 3. Transfer of debt to another person

According to the legislation in force in the Russian Federation in 2019, a borrower who wants to get rid of a mortgage has the right to transfer it to another person.
To do this, he must obtain the consent of the lender, who will perform a thorough check of the new borrower.

Despite the fact that the further “fate” of the collateral is decided by all parties to the transaction and is considered individually, the final word remains with the financial organization.

In some cases, the collateral property is retained by the debtor, in others it becomes the property of the new borrower (in this case, the former client is released from all obligations to the bank).

Method 4. Selling mortgaged housing

How to legally get rid of your mortgage and possibly get additional income? If the borrower does not plan to keep the collateral in his ownership, he can sell it to an outside party.

However, to do this, he must obtain the consent of the financial institution where the loan was issued and choose a sales method:

The sale of mortgaged housing can be carried out by:

The debtor himself - he will have to independently look for a buyer, collect all the necessary documents and monitor compliance with the terms of the transaction;
Real estate office - engaging an intermediary gives potential buyers much more confidence, because the procedure is controlled by professional lawyers;
Bank-lender - all responsibilities for the sale of mortgage real estate fall on the shoulders of bank employees.

Method 5. Renting out real estate

How to get rid of a mortgage in Sberbank or any other financial organization? To repay the debt, some borrowers use income received from renting out the collateral property to third parties.

Method 6. Cancellation of mortgage through court

Many people believe that the lender will not be able to sell the mortgaged property if the debtor has no other property . This is not the case at all.

The maximum a client can count on is to receive an annual deferment. However, this is only possible if the borrower has minor children.

How to prepare to reapply

Despite your strong desire to get a loan to buy a home, you were still denied a mortgage from Sberbank. What to do in this case? The worst option is to give in to emotions and start finding out the reason for the refusal. But if the applicant behaves correctly towards the loan officer, then we can hope that he will verbally explain to the unlucky borrower what is going on.

Refusal is not a death sentence; you can revise your comments and resubmit your application.

If you analyze the reasons for the negative answer, you can take measures to eliminate them and get a chance to further try to apply for a loan. What can you do in this case:

Improve your credit history if this has not been done before applying. First of all, it is necessary to pay off problem debts, if any. It may turn out that your credit history is damaged due to technical errors or due to the unprofessionalism of bank employees. To eliminate any inaccuracies, you will need to contact the banking institution that compiled the credit history report.
Improve your financial situation. There are several ways - find a higher-paying job, attract solvent co-borrowers or guarantors who will become guarantors for timely repayment of debt.
Provide a larger amount for a down payment and thus become more “interesting” to the lender.
If the reason for the bank’s refusal is the low liquidity of the collateral housing, then a more attractive property should be found.
Consider another mortgage program.
Submit applications to other banks, where there will be more lenient requirements for borrowers.

Is it possible to refuse a military mortgage?

It should also be noted that a peaceful solution to the problem is the most profitable option, so if financial difficulties arise, it is better to immediately contact the bank employees.

Remember, any financial institution is interested in timely repayment of loans, so they will offer you the most optimal solution.

Video: How to get rid of a mortgage?

Why do you want to get rid of your mortgage?

Once upon a time, 15% per annum on a mortgage seemed like an excellent offer with minimal overpayment. The growth in real estate prices remained stable and confident for a long time. Now these percentages seem too high, which means it’s time to adjust your mortgage plans.

By freeing himself from mortgage debt to the bank, the borrower solves 3 problems:

Maintains a credit reputation, which will allow you to take out profitable loans at low interest rates in the future.
Gets rid of unreasonable overpayments on interest, since new contracts are concluded at a rate that is 2 times less than it was 10 years ago.
Receives freedom from payments when you have to pay large sums to the bank every month plus pay additional insurance.

We sell a mortgaged apartment ourselves

If an urgent life situation has arisen and you are sure that you can no longer pay your bills, selling your mortgaged apartment yourself seems like the most natural option. But this is only true from the borrower's point of view. For the bank, the only guarantee that you will fulfill your obligations on the loan is the full repayment of the principal debt.

Sometimes interest for a certain period may be added to this amount as penalties for early exit from the mortgage. Therefore, the only condition under which the bank removes the encumbrance from the collateralized property and allows the purchase and sale transaction to proceed is the payment of the principal debt at the expense of the borrower.

The buyer of the apartment will be able to become the owner only after the bank removes the encumbrance.

But such transactions take longer than standard ones.

Since the borrower a priori does not have money, he can only take it from the buyer as an advance. As a result, the amount of prepayment for real estate can be half, or even most of its market value. In addition, such a purchase and sale agreement contains many additional actions that require time and money.

It turns out that in order to attract a buyer, a person who decides to sell a mortgaged home will have to price it below the market in order to attract customers.

Legal ways to get rid of a mortgage

Finding yourself in an unpleasant situation with the further impossibility of continuing payments, you have to decide a difficult question: whether to keep the mortgaged housing or give up further struggle, allowing the bank to take the collateral to eliminate the debt. There are other, less drastic measures to eliminate debt. In certain circumstances, it is possible to involve the state in resolving the issue.

Method 1. Sale of the collateral object

The most painful way to eliminate debt is when the borrower loses the apartment and overpaid interest, while maintaining his reputation and good relations with banks. It is not recommended to wait until delays lead to the accrual of fines and penalties. Selling a home when the borrower goes bankrupt involves a lot of complications:

A ban on lending from other banks will make it impossible to purchase new housing on credit at a lower cost at low interest rates.
Selling at auction at prices below market prices leads to the fact that the borrower will not receive anything from the proceeds.
A person declared bankrupt will not be able to occupy a leadership position or manage a business for 5 years.
If there is not enough money from the auction sale, the bank will sell the debtor’s other property through the court on absolutely legal grounds.

If the sale is initiated by the borrower, the consent of the lender must be obtained, who is not interested in losing interest on the mortgage. The bank is reluctant to take risks, so the collateral will be removed only during the transaction, when a buyer has already been found and an advance payment has been made in the amount of the balance of the debt. In fact, the bank will offer to first close the debt and only then formalize the sale. In such conditions, it is difficult to find a buyer willing to wait a month to complete the procedure for removing encumbrances and re-issuing documents for the transaction.

Method 2. Mortgage restructuring or refinancing

If payments have become too high compared to income, it is worth considering options for maintaining rights to real estate by changing the terms of the loan. If there has been a layoff at work, or the borrower has become unable to work, it will be easier to get approval from the bank for new mortgage parameters. The borrower’s task is to provide the bank with strong evidence indicating that further payments are impossible due to serious negative circumstances (illness, disability, loss of job for reasons beyond the client’s control).

Mortgage restructuring is a revision of the parameters of the loan agreement in order to reduce the mortgage burden. This is achieved through:

bank interest reduction;
increasing the term;
temporary deferment of payments for the borrower (“vacations”).

Most banks are willing to extend the repayment period without reducing the interest rate. This situation is in the interests of the financial institution.

To achieve a reduction in interest overpayment, you will need to contact another bank to refinance your mortgage. Thanks to the refinancing program, it is possible to reduce the mortgage interest rate, renegotiate the terms and conditions of insurance. The disadvantage of this product is that the borrower has to re-sign the agreement with the bank and collect all the certificates necessary for the mortgage.

The difficulty of refinancing lies in the impossibility of reconciliation if the previous mortgage is in arrears. The new lender needs guarantees that the borrower will cope with new obligations, and violation of financial discipline during the previous repayment will have a negative impact when making a decision.

Refinancing saves on interest overpayment, but the costs of conducting a new appraisal and purchasing insurance will not pay off if the rate decreases less. than by 2-3%.

Method 3. Subsidization, government programs, deductions

It is not the borrower’s fault that loan obligations become unaffordable if there has been an addition to the family or actual income has decreased due to rising prices. Especially for such situations, the legislation provides for government programs that help reduce the balance of mortgage debt:

A young family in line for improvement receives a 30 percent discount due to subsidies from the budget.
Military personnel receive a payment that reduces their credit debt.
Other regional programs for socially vulnerable citizens are implemented at the local level.
Income tax payers deduct interest and principal. If the employer pays 13% personal income tax, the borrower has the right to return the entire tax amount up to 390 thousand rubles for interest, and 260 thousand rubles for the loan. As a result, we manage to receive an amount of 650 thousand rubles and use it for early repayment.

However, it is more difficult to receive payment if you have an existing mortgage agreement. Families with children have the right to repay the debt using maternity capital, and citizens who gave birth to a third child after 2018 can agree on an additional tranche from the budget in the amount of 450 thousand rubles. While the bill is still in the process of determining implementation regulations, it will help families cope with mortgages without losing their home.

Method 4. Debt transfer

An alternative option is to search for another potential borrower who is ready to buy an apartment through a mortgage from the same bank. The lender does not risk anything by removing the encumbrance in favor of another borrower. The only difficulty is to find a buyer who will be satisfied with all the nuances of the transaction involving the transfer of debt obligations.

For the first borrower, the only difficulty is finding a willing applicant. Otherwise, the procedure resembles a regular sale. The seller prepares the documents and submits them to the bank along with the papers of the new borrower. If the bank approves the candidate, the remaining debt is fixed and reissued as part of a new mortgage.

VAT refund when purchasing an apartment with a mortgage, maximum amount

Now residents of the Russian Federation also have access to a tax refund for paying interest on targeted loans (mortgages) when purchasing housing, part of a residential building, land with a house or part thereof. The full amount of property deduction is due to citizens in relation to interest on bank loans, if the purpose of their issuance is to refinance a loan for the construction of residential real estate or the purchase of apartments, rooms, residential buildings, their shares, land with houses or parts thereof.

When purchasing an apartment with a mortgage loan, residents of the Russian Federation can return 13% of the interest payment amount with a limit of 3 million rubles. As mortgage interest is paid, the taxpayer can repay the money each reporting period. For example, if under a mortgage loan agreement you paid interest in the amount of 1.5 million rubles, then in the end 1.5 million will be returned to you.

Important!

If several persons are borrowers under a mortgage agreement, then each of them will be able to apply to the tax office to obtain a deduction.

If construction has not yet been completed, they proceed from the maximum value of the property, which does not exceed 2 million rubles. This may include costs for:

purchase of building materials, finishing;
development of design and estimate documentation;
works, services related to the completion of premises, finishing;
conducting communications.

Before submitting the required package of documents to the tax authority, in order to avoid denial of a tax deduction, consult an experienced lawyer. A competent legal approach will save you from many problems and unpleasant surprises.

ATTENTION!

Due to recent changes in legislation, the information in this article may be out of date!
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