Today’s article completes the 3-part series on important checklists to consider before buying any property. Now you know what to do before any purchase. Good luck!
9. Confirm status of owner(s). One very common problem with buying property is the litigation that may arise if the said property is a shared inheritance of more than one person. In the case where at least one party disagrees with the sale, there is a huge possibility that the sales contract be revoked and you lose your money in the process.
10. Confirm utility bills’ status. Before parting with your money, request for receipts of utility bills like water, telephone, electricity, waste disposal, etc., from the seller. Failure to do this would cause you to pay for services you never used.
11. Ascertain limits before buying. For those buying land for building or planning to extend an existing building, make sure to get a certificate from the Council stating what can be built on it and what the property and the land can be used for. It’s important to check the size of structure that can be built on a plot or how far an existing building can be extended.
12. Hire experts. This is perhaps the best advice and most important you can get anywhere; the presence of a lawyer or a real estate professional, or surveyor would save you a lot of trouble – and money in the long run. The little investment in securing the service of the expert(s) would prove unquantifiable when you consider all the loopholes in the contract that would have been straightened out, faults fixed, and your property in good shape, giving you value for your money. Lastly, make sure to also ask your lawyer about your rights (e.g. the return of your deposit and any other funds already paid) if it isn’t possible to complete the sale for any reason after an agreement of sale has been signed.
Remember, ignorance of the law is no excuse; so save yourself of all the hassle and enjoy your new property with absolute peace of mind.
