Recommendation to Buy a Home

Image Source:Google.com

It is common that during the purchase of a house or apartment people fall into a kind of infatuation that does not allow them to see the defects or inconveniences of the property they chose and put their savings and assets at risk.

The specialists suggest that the monthly gross income of the family is allocated 30 to 35 percent to pay the mortgage, without neglecting other basic needs.

If you are looking for a house, you should not miss the following recommendations:

• Identify your needs: When you start the search for real estate, select the one that suits your needs, has the size and number of rooms and is close to your place of work. If you buy a bigger property than you need, the expenses in building, services, and maintenance will rise and you will not enjoy the whole house.
• Check the physical structure: If you have already decided which property you like, ask an architect to help you verify that the house is in a position to inhabit it and that it has no hidden damage. If it's a department you can ask the nearest neighbors if the property has any leaks that affect them.
• The location: The property must have good and sufficient means of communication, education services, health, commerce, security, transportation, recreation, and supply. Take care that it is not located in an area of risk: under high voltage lines, fuel tanks, underground pipelines, riverbeds, near ravines or flood areas. And if you are close to your place of work you can also save on transfers, especially if you live in a big city.
• Check that who sells the house is the owner If the person who sells the property is married by a conjugal partnership, he must have the authorization of his partner in order to sell it.
• Verify that there are deeds: The deed of a real estate is the only way in which the buyer will have the legal certainty of the property before third parties, including the banks to contract credit with mortgage guarantee. This can be verified in the Public Registry of Property
• Payment method: According to the Law for the Prevention and Identification of Operations with Resources of Illegal Origin ('Anti-Money Laundering Law').
• Ask for the debts: As a general rule, the seller must keep current the property tax tickets and services such as electricity, water, and gas. "The omission in any of the payments or dues noted will cause the new owner (buyer) to acquire all those debts and must pay," said Rodolfo Zamora.
• Choose a mortgage loan: Compare at least three mortgages with different financial institutions, take into account the CAT, interest rate, term, commissions, coverage, and cost of life and damage insurance and payment per thousand.
• Be patient: Average time of the buying process can be from 20 days when the transaction is cash, up to 2 months when it is with credit.
• Inform yourself. To be able to find out about the real estate offer and the variety of mortgage loans available in the market you will not be able to avoid the step of the informant. Real estate in Nagpur is the best source to buy a home. There are innumerable sites on the internet where new and used houses and apartments are offered, and in which you can segment your search according to the price and area you want.