- Make Sure That The Property Papers Are In Order
You must demand a certificate of freedom of encumbrances, so that you can take effective possession of the property. Seek the support of a lawyer or a notary for the transaction. Have land titles and land use licenses. Also get the plans of the property and specify the limits of the property in the deeds.
General Real Estate Tips: Part 2
- Ensure There Are Guarantors
If you are going to rent your apartment to tenants, make sure there are guarantors and verify that the endorsement is honorable. Find all the references you can of the tenant. It is better to keep bad tenants off than to get rid of them later.
- Ask For Documentations
When you invest in a property that is under construction, see that the construction company has bonds, to ensure that the work is completed. You should also get the copy of the construction license and the wastewater discharge permits.
- Take Note Of Demand And Supply
In a place where there is a lot of supply and little demand, the value does not increase as they should. Sometimes, this could be caused by several factors such as the construction of road and the lack of planning to deal with the vehicular traffic load. You have to know if you are willing to endure the temporary drop in demand or not.
- Always Analyze The Market
Before buying or lending money to a developer, market indicators are sought. It may happen that rents have risen in recent years, but you have to know how much potential exists. If the rents are high but there are very few commercial premises, offices or empty houses, it is a sign that you can still grow.
Real estate is a game of numbers, but also a game of heart and instinct. Proper knowledge of the market will always protect you from any unexpected turn. Nothing makes real estate investment as smooth as working with experienced professionals who understand how the market works, and how to make profit on properties, on and off season.
To work with professionals you can trust, contact LAPMG today.
