To avoid stories that touches the heart in your next real estate deals, here is a step by step guild by the Chief Coach on how to stay safe in real estate transaction.
Step One: Research the real estate agents’ credentials introducing you to the property online and in real time to establish his or her identity and credibility. Remember accordingly to our 10 commandment of real estate investing, your real estate deal is as good as your link to the property.
Step Two: Go for site inspection of the property or get a representative to check out the property on your behalf if you are not in town. Never pay for property you have not inspected.
Step Three: Once you are ok with the site inspection, then it’s time to involve your trusted team of real estate professionals who has developed their senses for property investment.
- Lawyer: Get the service of a property lawyer to carry out a legal search on the property.
- Surveyor: Engaged the service of a registered surveyor to conduct search at the land registry to ensure that the land in question does not falls into government committed acquisition.
- Structural Engineers: If your choice of real estate investment is buying a built property, get the service of a structural engineer to confirm the structural integrity of the property.
- Estate Valuer: If you are unfamiliar with the value of property in the area, get a valuation report as its going to help you in negotiating for a best deal.
Step Four: Once you are satisfy with the report of your property team and it’s time to make payment, but please always do it personally and directly to the landlord or owner of the property account. Make sure you document the whole process.
Step Five: Once full payment is made, take full possession of the property immediately most especially when you are not buying within an estate where you are sure there is a proper security of your property.
It is a common practice in this part of the world, when you buy a property, do all the paper work and leave only to return to the same spots sold to you after 90 days to see a 2 storey building fully erect on your land.
Final Thoughts on Steps by Steps Guild on How to Stay Save in Real Estate Transaction
Property acquisition can sometimes be complicated if you don’t know the technical know how on how to go about it, it is better to engage the service of real estate professionals so as to have a seamless real estate experience as their decisions can help you avoid unnecessary headaches in the future.