PRECAUTIONS TO SELL OR LEASE SAFELY

Precautions to Sell or Lease Safely

Investing in real estate is a very profitable business, however, to avoid inconveniences in the future in terms of material damage, overdue debts, taxes and legal issues, keep these recommendations in mind:

– The seller must deliver all tax payments (property and valuation) to the buyer. In addition, public services must work perfectly.

– Likewise, the boundaries, nomenclature and characteristics of the property must be very well specified in the deed.

– Leasing, selling or buying has less risk when it is done through a real estate agency.

– At the time of delivery, the property must be free of any type of mortgage, succession process, desenglobe, liens, pending lawsuits, civil lawsuits, liens, censuses, antichresis, lease contracts by public deed, dismemberment, resolution conditions and patrimony of family. For such checks, real estate services are the best.

– All the information provided by the seller about the property and its characteristics must be reliable.

– Always remember to pass utility bills in your name.

– Once the respective procedures have been completed, the seller loses authority over the property, so the buyer has full autonomy over it, except for the urban planning regulations, coexistence rules and/or corresponding horizontal property regulations, among others.

– Always ask that you explicitly indicate the use of the land or destination that can be given to the property.

– The seller must give you all the copies of the keys to access the property and the doors of rooms and/or closets.

Also if you buy a new home…

– Observe, first of all, that the work in progress has an informative billboard in which the names of the construction company and the project, the urban curator that issues the license and the area, among other information of interest, are identified.
– In the case of acquiring new housing in a building or complex, the Law obliges real estate developers and builders to submit the properties to the horizontal property regime.

– The builder is the initial owner of the property. When investing in new housing take this detail into account. Even remember that the builder is in charge of drafting the horizontal property regulations.

– Additionally, it is his responsibility to hand over the common and private areas and to assume the function of administrator ‘for a time, although, according to the law, he can hire a third party to represent him.

– When negotiating units subject to the horizontal property regime, private goods (houses or apartments) and common goods (green areas, corridors, etc.) are also acquired. Hence the importance of asking when they are going to be built, since sometimes they are not delivered at the same time with the house, but are projected for a different date.

– Remember that in the Metrocuadrado Magazine, which circulates monthly, you will find various and very good options for new housing.

– Before doing the business, find out if the common goods have areas and accessories for the disabled if the architecture takes into account children with spaces for play if there are no dangerous areas if you can have pets.

– What does the builder deliver? As a minimum, the horizontal property regulation is duly protocol zed by public deed and registered with the local Public Instruments Registry office. In addition, the buyer must demand the plans and the table of areas that allow verifying that the construction license granted and the construction coincide.