Posted on: 12/02/2019
The feeling of being in love is familiar to everyone - the mind is displaced by emotions, and our priorities are shifted so that they put the object of our desire first. However, love and a happy ending are often incompatible, and the reasons for them are rooted in the small mistakes we make in our enthusiasm. When love at first sight is directed toward property, the consequences can easily go to the maximum "until our deaths separate". If you are in a hurry to buy, it could affect your life for the long term. Therefore, before embarking on a passionate affair with such an investment, we advise you to familiarize yourself with the ten common mistakes of buyers before you.
1. Don’t count your chickens before the eggs have hatched
Before you make the final decision to buy the property, you must be sure that you can afford it. In case you do not have all the money and need to withdraw a loan, make sure the bank is willing to lend you a sufficient amount. Withdrawing a loan is a long process and in case you have not gone through it before settling on a particular property, you may miss out on your chance to make it your own.
2. Lack of negotiations
Negotiation is as much a talent as it is a skill that is developing. However, even if you do not have experience in them, do not rush to immediately agree with the amount announced by the seller. In most cases it is artificially high and may not correspond to the real qualities of the property.
3. The seller is not necessarily the owner
Do not assume that if the seller's name is included in the sales documents, then he is also the owner of the property. It may also be his percentage - for example, in marriage or inheritance. Do not rush to sign any documents without tracing the ownership of the property. Such information can be easily obtained from the Property Register.
4. Neglect the location
You liked the property so much that you are in any kind of compromise. Including moving to a neighborhood that is light years from your office and loved ones, and not only does not have convenient public transportation, but you also have to park your car across nine mountains in the tenth. As much as you like the property, please note that any interior is subject to renovation and you can change it as you like. However, what you can't fix is the location.
5. Do it all yourself
Buying a property is a long and complicated process that no matter how much we want, it can't be easier. It is an expensive investment for your future, so it is no wonder that you have to swim through a sea of bureaucracy to reach the happy end of which you are already a full owner. You need to know the market, have at least some idea of architecture, in order to be able to judge the quality of the sites, and also to have knowledge of the legal side of the issue. What references do you have to make to verify your right to own the property? Does the property have Act 14, 15 and 16? What documents do you require? Each of these questions is worthy of a specialist. If you are not one yourself, you will save yourself a "master's degree" if you just hire an intermediary. The real estate agency has consultants for a new case and will be your loyal ally all the way to your new home.