7 Things to Pay Attention When you Visit a Property
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by Olga
- January 12, 2021
- Real Estate
- 0
One of the purposes shared by many of us and a common goal among families, is to acquire and be able to live in a new home. And what experience can be more refreshing and positive than moving to a place that we love and where we feel totally comfortable?
If you feel identified with this situation and you find yourself in the search for a property to buy, it is important that you pay attention to these points that we are going to describe, so that the acquisition of your new home is a positive and fruitful experience.
1. Choose a trusted real estate agency:
Having the backing of a real estate agency that instills confidence ensures you make a good purchase. Real estate advisers are trained to carry out these transactions and, thanks to the experience they have, they will save you time and money, since they will be in permanent contact with the owner and will carry out the negotiations for you, allowing you to get the best possible price. Likewise, the professional you trust will advise you on the real state of the property and on the legal steps to follow.
2. Floorplans in order:
Mainly in houses, it is recommended that a review of the property plans be given to make sure they are in order. Generally, the floorplans comply with the rules, but in some cases, it may happen that after presenting the plan to the municipality, more square meters have been built and that they are not declared, or that it has been directly carried out the entire construction and that the plans have never been submitted.
3. Documents and legal status of the property:
Before signing the property, you must make sure that it does not have debts, mortgages, liens, that there are no usufructs and, if the property was received as an inheritance, you have to corroborate that the succession was processed. You will save yourself a lot of headaches by having this information. As we mentioned earlier, a real estate consultant can generally provide you with support in these situations.
4. Sign the purchase promissory contract:
If you are really interested in the property, you don’t want another buyer to get ahead of you and take that house that you already imagined living in. To prevent this from happening, it is essential to prepare and sign a purchase promissory agreement. By delivering a credit and signing the contract, the seller agrees to sell you the property and you are obligated to purchase it.
5. Check square meters:
To compare one house with another in terms of dimensions, we consider the square meters of each one. It is important to verify that the published information matches reality. In the case of houses, sometimes it is not usually specified whether the square meters belong to the built surface or to the property land.
6. Possibilities for renovations:
If you have in mind to carry out renovations in the property, it is necessary that before carrying out the sale transaction you check with, in the case of a building, with the property administration to be sure that you can carry out those works without any problem.
If you have plans to make changes in the distribution (in the case of houses), we recommend that you consult with a specialist to understand the structure of the property and evaluate the possibility of making these modifications.
7. Price of the property:
Whether the transaction is convenient and carried out depends a lot on the price of the property. Many times, the property has sentimental value to the seller and the price is not in line with the market value.
A real estate consultant will help you get the home you want at a fair valuation and even negotiate a better price.
Contact us if you are looking for an apartment, a house or a commercial property in Panama, we have a variety of options with attractive prices.
