The issues to consider when you’re looking to buy a home

Newsroom 17/09/2018 | 11:56

Anyone who is looking to purchase a residential property has to pay attention to some important issues. At the same time, Re/Max argues that the involvement of a real estate agency is an asset for the client.

According to Re/Max specialists, legal issues are among the items that potential buyers of a home should be interested in. They must firstly request ownership of the property and the land registry extract, together with the related notices, to check for possible strikes by legal, physical, state, banking or other financial institutions.

Furthermore, if the sale is made through an intermediary, on the basis of a notarial mandate, it is mandatory to check the legality and validity of the act in question. Subsequently, the civil status of the landlord must be clarified because, according to the law in force, a building can be alienated only with the consent of both spouses. All agreements between the parties, irrespective of the form of the agreement for which they have opted, must be written in writing, under penalty of absolute nullity.

Every sale is different

A buyer must also pay attention to the conditions for the alienation of the real estate, such as: exact setting of the money transmission, the currency of payment, the indication of the real price (there is a risk that a possible cancellation of the contract, the purchaser to recover strictly the amount indicated in the contract and not the actual one sent), the indication of the time of entry into possession/release of the real estate and to know in advance the amount of the notarial expenses that come into its charge.

“Every real estate sale has its peculiarities, which is why buyers of real estate need to attach greater importance to all the legal and financial details. In this sense, the involvement of a real estate agency with expertise can reduce the risks to zero, offering quality and safety to the entire selection and purchase process of the dwelling, ”said Mihaela Keller, Residential Sales/Renting Specialist, Re/Max Lux Group.

According to Re/Max officials, since a professional agent knows the market and has access to a solid database, he can effectively compare similar properties by helping to set a fair price. Also, the whole process of buying a home takes longer, and collaboration with a specialist can save a significant amount of time compared to an individual looking for a home on their own.

Last but not least, it deals with the bureaucratic part and the necessary documentation for the transaction to end in the best terms.

Location, location, location

The most important requirements for choosing a home are the location, price and property status. In the past two to three years, customers have been more cautious, as they spend more time searching, have patience and look for the best offer that meets all their requirements.

In addition, they are much more careful with their money, even if it comes from bank loans. As for the sale period of a building, it depends on several factors (location, listing price, real estate status), and with a high quality real estate promotion, the property could be traded after 4-5 months of listing.

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