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7 Things to Look For When Buying Property


There are several things you should consider before you specify a property that you buy, because you certainly do not want to regret it when buying a home, there are many shortcomings, for loan tips, you can see it through
here are some tips before you buy a property.

1. Location
This is an important aspect to consider before determining the property that you will buy. Location election should be tailored to your needs, whether you will buy the property is destined for residential or for business purposes? if for a place to stay, which should be considered are:
– Are the facilities provided adequate, in terms of the following infrastructure in terms of security environment, the following shopping area playground for children – children;
-Is an area being developed or have been developed;
if you buy a property that is intended for the purpose of business, then the things to consider are:
– Is the location appropriate to the market share of business that you run?
– Is the area being developed or have been developed?
Is the number of inhabitants in the area has good potential for the kind of business we run?

2. Classification of land
It can generally be classified into four categories, namely: commercial, residential, industrial and agricultural.
By knowing the type of soil, will certainly help us to find properties that we want as needed.

3. Passive Income
Whether the property has potential passive income? Is there a tenant or prospective tenant?
What is the price that has been offered the tenants for that property?
The best option is a property investment options can be “self-liquidating assets” that generate passive income and able to build an asset for you. try Consider the following scenario: Buy property in a strategic place, the location is quite attractive tenants. you do not need to pay in cash on the overall price of the property, you simply pay a deposit and let the tenant to pay the mortgage on a monthly rental fee. Amazing is not it?

4. Status of land
The land certificate is a legal document that describes the status of ownership. carefully check on the status of land mail, make sure the name on the letter of the land according to the name that will sell the land? Does the seller have the legal right to conduct such transactions? do not forget to insure How many square meters of land area?

5. encumbrances
Encumbrances refers to the boundaries of the property. Are there pleasures that limits the property occupiable space. Perhaps partly owned land has been granted, for example, road. Are the claims of the other party? checking against it are essential to avoid lawsuits later, lawsuits are problems inherent to the property. make sure that no other party which claims ownership of the land? Is certificates were pledged to the bank? If that happens like this, then the mortgage should be canceled immediately because if not, then the other party such as a bank one day may seize the land, if the owner is not able to repay the loan.

6. Tax Payments
The property includes taxable goods. By looking at the tax payment notification letter, of course, we will be able to know how the value of the property that we will buy. Make sure that the payment of taxes on property that we buy have been paid in order not to be a burden in the future.

7. Other Issues
Another issue you need to consider before making a purchase of a property is whether or not the occupants / tenants illegally. because the amount of legal fees that would be required to expel illegal people is quite large, other than that they are also able to steal something that has a market value of your property.

Thus things that seem trivial but often a big problem if you do not watch carefully. I hope this article can be useful.