10 Commandments for Cracking the Right Property Deal

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10 Commandments For Cracking The Right Property Deal

Transcript of 10 Commandments for Cracking the Right Property Deal

Page 1: 10 Commandments for Cracking the Right Property Deal

10 Commandments

For Cracking The

Right Property Deal

Page 2: 10 Commandments for Cracking the Right Property Deal

“ Buying real estate is not only the best way, the quickest way, the safest way, but the only way to become wealthy

“Marshall

Field

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Page 3: 10 Commandments for Cracking the Right Property Deal

Buying A Home Is One Of The

Most Important Decisions Of Your Life

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Page 4: 10 Commandments for Cracking the Right Property Deal

Make The

Right Decision

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# 1

Do your research well

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Page 6: 10 Commandments for Cracking the Right Property Deal

Doing considerable backgroundresearch on the potential

property increases the chances of a profitable purchase

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Before making an agreement check

• The neighbourhood• Crime rate• The Age of the property• Features of the property

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# 2 Get A Buyer’s Agent

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If you are buying a property for the first time, involve a

real estate agent rather than going for private buying

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The buyer’s agent should

• Have through knowledge about the area• Should be considerate about the buyer’s

requirements• Competent enough to negotiate on your

behalf with the seller or seller’s agent

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#3 Think Long Term

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Real estate is a long term investment and be prepared to bear the expenses like

• Maintenance charges• Property tax• Mortgage burden

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#4 Get all the information you need

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Demand for the disclosure of the complete information about the property

This may include• Information regarding electricity and

water supply• Materials used for building construction• Municipal rates• Maintenance cost

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#5 Compare market prices

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Get the market price comparison analysis report by a real estate appraiser before making an offer

This will help you In analyzing the right priceof the property and negotiate well with the seller

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#6Have you got your Agreement letter and Allotment letter ?

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The Development agreement contains details regarding the terms and conditions on which the landowner has permitted the builder to do the development on his property

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The allotment letter contains the clauses regarding the builder’s liability in case of problems after possession or delays in construction situation, agreed price, construction and payment schedule

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#7 Involve A Lawyer

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Legal documents are quite difficult to understand and sometimes have some confusing clauses.

To avoid any surprises consult a lawyer of your choice to secure the legitimate and finance documents.

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#8 Choose your banker

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Ask the bank financer to provide the true value of the loan and the full details regarding the terms and conditions of the loan and ensure there are no hidden charges involved

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# 9 Check the Sale Agreement

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Once you have decided on a property that satisfies your requirements after inspection, read the settlement statement thoroughly to check if it holds any clause which dissatisfies you prior to closing the deal

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#10

Before property handover do another final check!

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Before releasing the final payment to the builder/seller you have full rights to inspect the property yet again.

We advise you to hire an authorized personal to do a through inspection of the property.

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About us!!!

Satyam Properties is professionally managed real estate firm based on the principles of trust,intergrity & ethical business practices. The company is flourishing under the expert guidance of Mr. Y.R.Gupta. Their expert knowledge of the Uttarakhand property market visionary approach and exemplary leadership skills have earned us the reputation of a reliable Real Estate Consultant, Builder & Developer.