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7 Mistakes You Shouldn’t Make When Buying Property

Buying property is a dream for many people. The purchase of a house or apartment can mean the security of the home itself, the chance to be able to invest in something profitable, the guarantee of the children’s future and much more.

However, when it comes to analyzing buying opportunities, it is very easy to create an illusion about the property and fall for scams or acquire an account larger than your financial planning can provide.

With that in mind, we have prepared this text with 7 mistakes that you cannot make when buying your next property. Check out!

1. Do Not Visit The Property

If you are looking for a house that is already ready for inspection, be sure to visit the place and check that the construction has been completed, with a good finish, safety and respecting the plant design.

Visiting the property is the first part to ensure that you are not entering a scam or a space that does not respect the published ad. In addition, it is also important to schedule visits at different times of the day. In this way, it is possible to visualize the lighting of the place, movement of the street and to know a little more of the neighbours.

2. Fail To Analyze The Property Documentation

Is the property registered? What are the documented measures? When was it built? Confirming that the documents of the apartment or house are up to date is an extra security, both for those who sell and for those who are investing in the place.

One of the main reasons why this point is important is because, after completing your negotiation, it is necessary to transfer the property to your name – and if the documentation is not up to date, this process becomes more difficult and expensive. 

So, nothing to trust brokers who offer properties without complete documentation. In these cases, it is possible to count on the help of a lawyer to analyze that everything is right to finalize the negotiation.

3. Do Not Require Documentation From The Responsible Broker

Who is the person responsible for selling the property? Is this professional free to negotiate the property before his real estate company and with written authorization from the current owner?

Incredible as it may seem, there are many cases of people who confirmed a deal, paid for the property, but never received the key, since the seller was not authorized to negotiate the property.

So, to prevent injury and headaches, it is always important to investigate the history of who is offering. Thus, it is possible to prevent in advance if the property is not available for purchase.

4. Forgetting To Look For The Location Of The Property

What is the address of the property? Where is the neighbourhood? Is the region considered safe or dangerous? Are residents able to get home at any time without fear or is it better to prevent and avoid going out at night?

All of these issues are important and should be considered before buying a house for sale in Abbotsford BC. After all, after signing the contract, it is not possible to go back, and nobody wants to live in regions that spread fear, right?

In addition, when searching about the location in advance, it is possible to know if the region is appreciating or devaluing, what are the options of restaurants, entertainment, gyms and colleges nearby.

5. Don’t Research About Property Fees And Costs

What is the value of the condo?  Are there any additional tax expenses? How much is the average price of electricity, gas and water consumption on site? All of this needs to be put on paper before thinking about buying a property. 

Many people end up creating an illusion that the purchase price is the only investment needed when buying a new houses for sale in Langley BC – however, spending goes well beyond that.

Another factor that needs to be considered relates to renovations and furniture, since most properties in Brazil are not sold with decorative items and appliances. Thus, if the buyer wants to renovate the environment and needs to buy the furniture, the expense is even greater.

The ideal is to prepare a spreadsheet and put on paper the amount available to invest, the necessary furniture and appliances with the respective prices and add the average amount needed to ensure that everything goes as planned.

6. Not Knowing The History Of The Responsible Construction Company

Who built the property you want to buy? Are the other buildings of this company still in impeccable structure? Are the materials used quality?

Security is essential for any property, and no one wants to risk living or purchasing a property that has not been built with the safest items on the market. Therefore, prioritizing this is essential to ensure that you do not find cracks, listen to your neighbor walking at all times, or break a wall by accidentally hitting furniture.

In addition to ensuring tranquility, a property built in the right way avoids problems with plumbing, leaks, infiltrations and damages that can cause unforeseen financial problems.

7. Don’t Hire A Trusted Real Estate Agent 

And lastly, but also very important to avoid headaches when buying a property is to count on the help of prepared and responsible professionals. A real estate trust is essential at the time of signing a contract, ensuring their rights and escape from false negotiations.

Real estate agents are prepared to handle all documentation, offering guidance aligned with your expectations and providing a professional view for choosing the ideal property for you.

Therefore, with the security of having professionals prepared to deal with all the legal issues that involve negotiating a real estate acquisition, buyers are able to focus only on finding the ideal space to invest, without major concerns.

Now that you know all the mistakes that cannot be made when buying property, be sure to find the most suitable real estate and start your search for your next investment! 

Written by Vaneet Sethi

Vaneet Sethi is a Successful Real estate agent. He is serving in Surrey, Delta, Langely, Abbotsford, Mission and Chilliwack area for real estate market over few years. He started his career as realtor under Century21 Coastal Realty Ltd. and grew up as a successful real estate agent with number of happy clients. Now he managed his own company i.e. Abbotsford Houses. The aim of the company to provide the best homes for sale in Abbotsford and its surrounding area.

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