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This is one of the common mistakes when buying real estate, especially those who are new to the transaction. Do not consider your financial ability to be insolvent or self-inflicted.
For example, if you prefer a home but it is too financially feasible, some will choose to borrow from a bank, friends, … with a higher loan than initially expected. This entails a lot of trouble, especially when something goes wrong and you can not afford it.
So, consider and choose the property that suits your financial ability. The amount of money you have is equivalent to 50-70% of the value of the property is safe.
The real estate market always has the prestigious investment units and the “problematic” units, signs of fraud. If you do not know the investor carefully, you will easily fall into “trap”, buy a house on paper, but the project has not been completed procedures, not clear the ground or have not completed the deal clearance equal,…
With secondary investors, the liquidity of the real estate project will determine whether they will make a profit or lose. This does not mean that when you just buy a house to live, you do not need to worry about liquidity, because knowing later, you will move house, need to sell the house, … If your property is highly liquid , the purchase will be easier and vice versa.
Another common mistake selling real estate is very common is not to consider the surrounding infrastructure, resulting in many inconveniences later. It is advisable for you before deciding to buy real estate, look at factors such as whether traffic is convenient, where there are frequent floods or traffic jams. , there are convenient to move to work, there are near the area providing services such as supermarkets, hospitals, schools …
This mistake often happens to people buying and selling apartments in apartment projects. The project apartment, you will often have to pay in installments. Pay attention to the time of payment so that you can prepare enough money and pay on time, avoid being forced to hand over money earlier than the State regulations in payments for real estate purchase, sale.
For example, the first payment will not exceed 30% of the value of the contract, the next will have to match the construction progress of the real estate but the total does not exceed 70% of the contract value when not hand over the house.
In addition, if you do not know the interest rate for unpaid amounts, you may have to pay a higher amount than the real value of the property.
There are 5 mistakes that you should avoid to secure your real estate transactions. In general, you should pay attention, careful step by step, avoid the unfortunate dispute. If possible, ask real estate experts to check and advise before making a deal.
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