Real Estate Property Sale And Purchase
Real estate property has become the talk of our time. It’s a profitable venture that any entrepreneur will at one time think of investing in it. To the investors in real estate property, there comes a time when you should either buy or purchase a property. What steps then should you undertake, or else what will be your guiding principle?
Below is a guideline to both the buyer and seller at this crucial point of their investment:
Process Of Buying A Property
· Let your mind be fully convinced that’s what you want. Is the property residential, commercial or industrial? These factors should guide you into choosing from the many in the market place.
· Search and investigate to make sure you get what you are looking for. Your property should suit the intended need, and have the right documents to avoid issues that may impact its value.
Agree with the seller on the price, and terms of payment. Payment can be made in full or a deposit first with instalments thereafter for an agreed time frame. This calls for a written agreement that both parties should abide by. The agreement should also cover on costs that the seller should pay for delay in payment.
· Sign a contract only when you are fully satisfied with the property, seen that the documents have the right registration, and terms of payment favorable to you.
· Prepare all documents needed for payment. Talk with your bank and solicitor for clearance on this.
· Make the payments as per the contract.
Hurray! You have just owned a property. Complete legal possession is passed to the buyer after completion of payment.
Process Of Selling A Property
· Be fully deciding that it’s the best decision for you. It might feel a little awkward selling a property that you’ve worked tirelessly to achieve.The reason for the sale should motivate you.
· Prepare your property for the big event. An old property should be well refurbished with all fittings replaced and worn out paint repainted.
· Advertise the sale on all media available, print brochures or even let colleagues spread the word around.
· Set a particular day for interested buyers to view the property.
· You can choose to find an agent to do all the selling for you. An agent will advertise for you and complete all the legal requirements at your comfort but will need a ten percent from the sale.
· After getting the right buyer, both the buyer and the seller should sign the contract in the presence of a lawyer. They should meet all the financial and legal requirements.
· Make payment and transfer the ownership to the buyer of your property.
Whether you are a buyer or a seller of a real estate property, the above steps will help you into making the right decision in the right way.
Always remember any real estate property should have the right and authentic documentation before any contract is signed. Agreements should have the correct signatures and legal names.
Apex Investments LLC
968 Main Street
Wakefield, MA 01880