Knowing how to invest in new real estate is the key to becoming a property owner. Indeed, this is an important life project that requires patience and rigor. In addition to the help of a professional, this first of all requires the knowledge of certain mistakes in order to avoid. Thus, there are various tips that will allow you to buy an apartment without the risk of losing your investment. Here are the best tips you need to apply to buy an apartment with peace of mind.
Prepare well for buying property
Buying a property is an operation that requires us to take the time to ensure effective success in all respects: price, financing, additional costs, work. You must be fixated on the number of rooms, the type of new house, in the city or elsewhere. At the same time, it’s important to follow practical advice when buying a new home so you don’t waste time.
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As for the search for new real estate, it is necessary to establish a list of its imperatives. You must be frank in expressing your desires. Visit most of the places that match your criteria. Obviously, you will have to spend time on this. However, this is not a waste of time because each visit will allow you to link your criteria. This can be, for example, a high floor, a terrace, separate toilets. These details allow you to reconsider some of your decisions based on falling in love.
Inspect the property carefully
Property inspection is a key factor in making the best choice. To do this, it is advisable to check if there is indeed a metro, tram or even train station nearby. You can also ensure there are schools or businesses in the area. To that end, it would ideally be as simple as asking a neighbor or a merchant in the area. There are so many things to know before buying an apartment, not to mention outbuildings like parking and a basement. Feel free to evaluate all these amenities to the smallest detail.
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It is also important to inspect the house as a whole. So, take your time to see if the property is still new. You can also inspect the condition of the roof. In addition to floor to ceiling, it is important to check the operability of the equipment (wiring, plumbing, etc.). In practice, it is advisable to pay attention to traces of moisture in the bathroom or in another room. In the same way, you should note the kitchen utensils or household appliances that will be purchased.
Also, make sure the garden is fenced and maintained. If it’s a property, ask what the total cost of maintaining the green space is. If your choice is a house, inquire about condominium fees. Feel free to take pictures. This is an essential element that will remind you of some details and thus help you in choosing your future new apartment. If a property interests you, feel free to visit it more than once.
Be accompanied by a real estate expert
Professionals have the skills (commercial, technical and legal) to advise you on the best opportunities. They receive remuneration according to a percentage of the purchase price of the target apartment. In general, from 3% to 10% when signing a mandate.
To invest well, get a clear understanding of the market. To do this, you can read studies published by specialized federations, networks of agencies, notaries. However, it is best to do the field research yourself. This is the reason why you should be accompanied by a professional for a new real estate consultation. In addition, you will receive information about prices, properties for sale in the city or area in which you want to settle.
Sending an offer to buy a property
If the property being visited meets your requirements, you must make an offer to purchase the property. To this end, make an offer that is logical for the industry market. Otherwise, you run the risk of seeing the owner refuse to sell his house or apartment to you. The sale agreement, or the promise that follows, will bind you to buy the property.
When a property meets your criteria and your budget, you have two options to make an offer to buy: verbally and in writing. To maximize your chances of acquiring an apartment, it is best to make an offer to purchase in writing. Therefore, remember the day of visiting the object, the address, the price and the validity of the offer.
Also indicate the method of financing, if there is an agreement. Be sure to ask the seller for feedback in writing. Likewise, if you change your mind, you have a withdrawal period of 10 days after the compromise is made. Indeed, in order to buy a new apartment, the only deposit you can make will be with a notary or an agency. Make sure you don’t leave the salesperson too long to think things through: a week to ten days is a decent amount of time. However, do not pay money to the seller at this point in the sale.
Don’t neglect the promise to buy
The promise to buy is the first step in the acquisition process and precedes any compromise. This is a written and official document in which you show your strong interest in the target property. In other words, you make a price offer indicating various conditions for obtaining an apartment. Thus, this accompanying document must indicate the characteristics of the property: postal address, area, number of rooms, equipment, etc.
Not overlooked are the ways in which the seller can express his answer: through a bailiff or by registered mail with acknowledgment of receipt. In addition, take the time to think carefully in advance, because once sent to the seller, the purchase promise can no longer be changed.
Anticipate budget and taxation
Mortgages are currently a good way to finance your project. You will also have to spend time finding funding tailored to your profile and your budget. First, take a look at the loans and assistance you can get (PTA in new construction, home savings, etc.). Then don’t limit yourself to visiting your banker; shop around for better speed.
Otherwise, it is best to contact a real estate broker who will find the best financing for you. As a rule, an old project with works costs less than a new program. In this way, you can get a good deal: as long as you check that the work to be done will not lead you into a financial abyss. In this context, it is better to accompany a construction expert or an architect in order to estimate the cost of the work.
Choosing a notary to sign
If there is no family notary, we will generally report to the seller’s notary. However, you can apply to another notary to complete the purchase of real estate. In other words, there will be two notaries present at the operation. One will take care of the seller’s interests and the other will take care of yours. Whichever option you choose, this approach will cost you less because the two notaries will pay equally.
The signing of a sales contract requires the intervention of two parties involved in the transaction. By law, the buyer has a 10-day withdrawal period. Therefore, it is necessary to count from the date when you will be informed of the signing of the compromise. During this revocation period, you have the option to withdraw from the sale without having to provide proof.
The sales contract automatically includes a precondition for obtaining a loan.
With 2 refusals of the bank, the sale will be canceled. If all goes well, the bank will send you your loan proposals in two months. To this end, a withdrawal period of 10 days from the date of receipt of the offer is again possible. However, be careful to meet this deadline before sending your loan offers back to the bank. If you miss this deadline, you will have to start over.
Once the loan offers are returned, you can schedule an appointment with a notary to sign the original document. This is the last step to buying your apartment. That’s when the seller will finally give you your keys! The notary will issue you with certificates of ownership, which may be useful for you to carry out procedures with various administrations. Before signing, do not forget to take an inventory of the premises and deduct the counters on the spot from the seller.