Steps to buying a Resale Property


If you are the kind of person who cannot wait three to five years for a BTO flat, then you might consider purchasing a resale property. Resale houses are more expensive than rental homes, and therefore you need to save enough money where you can. The amount of money that you save should account for also hiring a real estate agent. It may be quite a challenge to purchase the resale property because there are very many resale properties that are on sale. This is the main reason why you need to hire a professional resale agent to help you purchase the property.  An example of a resale estate you may wish to consider buying is the Jupiter FL real estate.  This is a high-class estate that you can choose to live if you are interested in resale real estate property. Discussed below is a step by step guide for buying Resale Property.

Consult Experts

Engaging a good real estate agent who can locate a resale property of flat is a good idea. A good real estate agent should be a person who is in an excellent position to locate sellers and also to guide you regarding the price of the resale properties in different localities. The consulting experts need to be a person who can tell you more about the seller of the property that you are interested in purchasing. Keep in mind that most real estate agents will charge you a certain fee and will help you with payment of stamp duty together with registration and other paperwork procedures for buying a resale property such as Jupiter FL real estate. To make sure that everything is clear legally it is good if you sought the help of a lawyer who understands real estate details.

Check the Title of a Resale Property

Despite the help you get from real estate agents and lawyers, it is always good an beneficial for you the buyer also to be well informed before entering into the real estate deals and procedures for buying property. The first step when purchasing a resale property is to establish the title of the seller. You need to know if the seller is the real owner of the property or whether he or she has been given a power of attorney to transact the deal concerning the house. Make sure that all the documents concerning the resale property are clear and understandable. Also, make sure that all the original documents regarding the resale property that was given by the original developer or original builder of the property are in perfect order.

Check for Required Documents

Buying a resale property is good however it may become a big problem if the necessary documents that regard the original purchase of the property together with the subsequent transfer of title are not properly stamped. Therefore, before you strike any deal, make sure that the documents are in perfect order and are properly stamped.

Check for Existing Loan

Also, make sure that the property documents of the resale property are not lying mortgaged in the bank’s custody because of a loan that was taken by the seller of the property.

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