Given the limitations of the Covid-19 pandemic, technology is a great tool that allows us to continue with plans such as buying a home. However, although this option can be very effective, if it is not carried out with caution there is a risk of being the victim of fraud or extortion.
For this reason, we explain six recommendations to protect the security of real estate investments.
1. Visit reliable real estate portals
This type of platforms are very useful when searching for properties through the internet, since they offer benefits such as choosing the location, the price range or the type of seller within a wide range of options that are constantly updated.
The first step is to make a list of the ones that most caught your attention and sort them by their price, characteristics or locations. Similarly, it is important to thoroughly research the options and get in touch with sellers. We advise going to social media to read reviews from previous customers and be more sure of the reliability of the person.
2. Hire a real estate agent
The next thing is to find a real estate agent or real estate agency to help you with the process. It is important that they have experience in remote home sales,since they will be the ones who will be in charge of carrying out the process in conjunction with a notary public. So you can inquire into how many properties you have sold by this means,how much time of experience you have in the sector and what is the payment method you use. It will also help to know your working hours and identify communication channels.
3. Make a remote visit
For the virtual visit it will be useful to make a form with questions of interest about the property,which includes, for example, when was the house built and how many renovations has it had?; how many square meters of construction does it have?; What is the neighborhood like and what services does it have?; whether there are extra payments and how they are covered; or if the deeds are registered in the Registry of Property and Real Estate – SUNARP..
During the tour it is essential that the real estate agent shows you every corner of the interior, as well as the patio, garage and surroundings to be able to recognize if there is a hidden vice, such as damage to the structure, ceilings or walls with humidity, unfinished foundations, or rusty pipes and electrical connections; and to verify the number of rooms and bathrooms.
4. Make sure the documentation is in order
To put a house or apartment up for sale, the owner must have the deeds in the Registry of Property and Real Estate – SUNARP. They verify that there are no outstanding debts or legal problems with the Ministry of Finance or another financial institution. In case the agent cannot confirm such documentation, it is better to choose another property to avoid being a victim of fraud.
Given the limitations of the Covid-19 pandemic, technology is a great tool that allows us to continue with plans such as buying a home. However, although this option can be very effective, if it is not carried out with caution there is a risk of being the victim of fraud or extortion.
5. Choose the best payment method
It is essential to choose a payment method according to the possibilities and the budget of each buyer. One of the most common is to apply for a mortgage through a bank. For this, you must look for the best interest rate, term and define a financing or co-financing scheme.
On the other hand, if you have the solvency to buy a house in cash,with this option you will avoid commission and interest charges; the agent will be able to negotiate the best prices with the owner; the buyer may choose his own notary public; and will reduce extra payments,such as the change of title to the property, registration of deeds, Income Tax (ISR), and the Property Acquisition Tax (ISAI).
6. Consider a remote shutdown
Technology and the internet make it possible to close deals remotely,since the agent can send you the required documentation by different digital means, for example, the sales contract that can be signed with an electronic signature system. Similarly, you can send him your personal papers, or where appropriate, the credit authorization letter in the same way.In this process it is substantial to hire a lawyer to advise you in the process and certify that the transaction is carried out in a legal manner.
Source: inmobiliare.com
Editor: INMOBILIARE