The Most Important Factors for Real Estate Investing

5 important steps before investing in a real estate property

Investing In A Real Estate Property. Buying a property is a good decision, talking with a realtor is another.

There are certain things that are fundamental and you need to know before making payment for a property to enable you to close a safe transaction.

Here’s are the 5 important things you should do:

Read More: 7 Useful Tips To Avoid A Real Estate Scam

  1. Do a physical Inspection: In the case of buying an off-plan Property (still under construction) this might not be possible because it is yet to develop and most likely on a 3D rendition. The final output of the property here would be based on the integrity of the developer. For an existing property, yes you might trust the realtor but still do a thorough inspection on the property so if it doesn’t meet your expectations, you find another.
  2. Ask Questions: There is a proverb that says ” He who asks questions doesn’t get lost “. For landed properties, be sure to do a drive around the neighborhood and talk to people even after inspecting it with the realtor, talk to people around the place. You can prepare a checklist of all the essential amenities within the property e.g. water, lighting, plumbing fittings, electrical work, etc, and be sure they match your need and expectations.
  3. Engage the service of a lawyer: this is very important to guide and supervise your purchase and transaction. This is to ensure you don’t get your fingers burnt.
  4. Identify and discuss with the original owners of the property or the appropriate authority in charge of the property: Property owners usually put people in charge via agents and lawyers.
    When you’re ready to make payments, do ensure you meet with the right authority over the property to avoid stories that touch the heart.
  5. Trust your instinct: After meeting with the appropriate authority in charge of the property, the landlord, or the designated realtor. if you feel uneasy about the entire transaction just hold on, don’t be in a hurry to make the payment just because the offer looks great. Please take it cool, don’t rush off to sign that checkbook.
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