Apartment purchase contract and registration
Buying & selling guide

Buying & Selling

A practical path from setting your budget and inspecting a property through signing, closing, registration, and taxes.

View the full timeline

What to check at each stage

The details that prevent expensive surprises
Property viewing

Evaluate the home, not just the listing

Check daylight, orientation, layout, ventilation, moisture, noise, water pressure, parking, building management, nearby schools and transit. Revisit at a different time of day before deciding.

Legal rights

Read the property register

Confirm the registered owner and review ownership restrictions, mortgages, provisional seizures, trusts, and other encumbrances. Obtain a fresh copy before the deposit and again before closing.

Contract

Put important promises in writing

Record the condition of the property, included fixtures, mortgage cancellation, vacancy and handover, unapproved alterations, closing adjustments, breach remedies, and the documents due at closing.

Closing

Coordinate payment and registration

Recheck the register, verify identity and authority, transfer the balance only when the required documents are ready, settle prorated fees, record meter readings, and submit title registration without delay.

Taxes

Budget beyond the purchase price

Allow for acquisition tax, local education tax, possible rural special tax, brokerage commission, legal or registration fees, housing bonds, moving costs, and financing expenses.

English calculators

Estimate taxes, fees, and settlement amounts

Official resources

Use current primary records before signing

Typical purchase timeline

Often six to eight weeks, but contracts vary
  1. D-60 to D-30Set budget and financing planInclude taxes and closing costs
  2. D-30 to D-7Search, visit, and compare propertiesCheck records and recent prices
  3. Contract daySign and pay the agreed depositAdd negotiated special clauses
  4. Following weeksFinalize financing and documentsAn interim payment may apply
  5. Closing dayPay balance, hand over, and register titleSettlement calculator
General information only. Tax, legal, financing, and reporting requirements depend on the transaction and the parties. Use current official records and consult qualified Korean professionals before signing or transferring funds.