|Author: Kailash Kumar 06 Sep 2016 Member Level: Platinum Points : 5 Voting Score: 0|
Regarding buying property , I have few tips to share which are based purely on my experience -
1. Apply for a bank loan even when no loan is required. Nobody will scrutinise the credentials of the property better than a bank as they have to give a loan. In case the banks find the property worthy of loans then it is likely to be a safe one to buy.
2. Reputed property dealers provide useful services as they are the one who knows many internal details which are not likely to be known by others. That is why they charge a fee also for their expert knowledge. However, unknown property dealers of dubious repute should be avoided at all cost.
3. In case a deal appears too lucrative or profitable, then one should be extra cautious. Greed should be controlled. Only greed lands the individual in a soup.
4. Nowadays, a number online portals are also leading with such matters. Few portals provide services of online buying of property also. All options should be explored before taking a final decision.
|Author: Venkiteswaran. 08 Sep 2016 Member Level: Diamond Points : 3 (Rs 3) Voting Score: 0|
For brokers, it is earning on every deal that is made. They get a fixed percentage from the buyer and seller. So it will be their interest to make the deal amount higher.
But the buyer will try to negotiate the least price and the seller will try to get maximum. Between them they may not be able to clinch a deal realistically and even may break the deal due their lack of experience and negotiation skills.
A broker will have more number of saleable property in his knowledge. If directly enquired, we may not know. Similarly broker will have more clients with him in need of a property. So he can work as a platform for them to meet and deal.
But it is always a must that the buyer should also make his own enquiries and satisfy about the genuineness of the property, the nil encumbrances, the possibility of any hidden detrimental reason for sales of the property. Prospective buyer also should consult his own lawyer for verification of the documents to the property.