To begin with let’s understand, what Building Financing Fund (BFF) is?
Building Financing Fund is the specialized fund created for the purpose of acceptance of investment from persons that wish invest money in building of the apartment real estate.
BFF (ROF) means assets transferred to the manager in control, which it uses on the terms of the rules of fund and contracts on participation in BFF (ROF certificate). These funds are created for the purpose of maintenance of building of apartment houses or objects of social appointment at the expense of physical and legal bodies with transfer of such apartment houses or objects of social appointment from the Builder to investors (principals) in the property after commissioning of such object of the real estate.
Types of BFF:
BFF type "A", all responsibility for the lack of financing is born by the Builder, and the Builder establishes unit of measure cost (1 m. sq.) technical and exploitation characteristics. Under existing conditions, Manager of BFF receives the compensation from the builder (for today BFF exists only in type "A")
BFF type "B", all on the contrary, Manager acts in the form of the high-grade customer and receives the compensation from investors from a price difference of 1 m. sq.  (for today BFF type “B” is not exist)
Why and for whom BFF is beneficial?
•For those who builds apartment houses of economy class and business class, especially in regions;
•For those who needs to sell «on yesterday» as on opening BFF 1 day is need;
•If the land is issued not on you, and the tenant or the owner of the land does not want
to issue target bonds on itself ;
•For those who wishes to issue right establish documents on the investor-buyer;
All these allow your company:
-Quickly adjust sales with the minimum financial expenses;
-Easy apprehend to investors procedure of purchase of the real estate;
-To involve any Banks for crediting of the buyers.
BFF creation algorithm:
1. Registration of contractual base:
- Signing of the apartment houses building contract; 
- Signing of the commission contract; 
- Signing of the contract of property rights concession with suspensive conditions;
- Signing of the mortgage contract (the contract demanding notarial attestation);
- Registration of BFF account, (client-bank registration into BFF account with the right to sign of your authorized representative for convenience to control by you of our actions);
2. Receipt of assets from investors (principals) for investment objects (apartments)
Registration of:
The contract on BFF participation (similar to investment contract);
The certificate on BFF participation (the inquiry on payment and fixing of the paid m. sq.);
The contract on property rights transfer (after 100% of payment);
3. Sending of money from BFF account to the account of the builder;
4. After introduction of building object in operation the Builder informs about it to BFF Manager  and submits data of BTI measurement for carrying out of final settlements with investors (principals), then BFF Manager transfers to the Builder list of investors completely paid objects of investment, and makes final settlement between BFF and the Builder.
5. Provision of time inspect warrants, registration and delivery of the right establish documents on apartments to investors.