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Publication date: 27.03.2024
I am your personal lawyer. My goal is to help the client find the best solutions for current legal issues.
When purchasing real estate, one of the most important and responsible actions is to inspect the chosen property before concluding the deal. This stage plays a crucial role in preventing unpleasant surprises and future legal issues. In this article, we will discuss the essential steps to take when inspecting real estate before buying.
Inspection of the Physical Condition of the Property
Before making any decisions, it is important to personally inspect the property. Visit the site and assess the overall condition of the building or land plot. Pay attention to aspects such as the condition of the roof, facade, interior renovations, plumbing, electrical wiring, etc. If you are unsure of your knowledge, it is better to seek assistance from an engineer or construction expert.
Verification of Legal Clarity
Verifying the legal clarity of real estate is a key stage in the purchasing process. Make sure that the seller has full ownership rights to the property and that there are no encumbrances on it. Inquire about all necessary documents, such as the certificate of ownership, technical passport, construction permits, usage permits, registration documents, etc.
Checking for Legal Risks
Thoroughly investigate the history of the property and its owners for any lawsuits, tax debts, or other legal issues. This will help avoid unpleasant surprises in the future and ensure your legal protection.
Assessment of Market Value
Before making a purchase offer, find out the market value of the real estate. Compare prices of similar properties in the area and consider all factors that may affect the value, such as size, location, condition, infrastructure, etc.
Seeking Professional Assistance
If you have any doubts or need additional assistance, do not hesitate to seek help from professionals. Lawyers, real estate agents, and property specialists can provide you with qualified assistance.
Also important is the verification of real estate documents before any real estate transaction, such as buying, selling, or renting. This process helps ensure the legal clarity of the property and provides protection against potential legal issues in the future.
Here are some key steps to take when checking real estate documents:
Legal Clarity Check: Make sure the seller has full ownership rights to the property. Check for all necessary documents, such as the certificate of ownership, construction permits, usage permits, registration documents, and others.
Encumbrance Check: Find out if there are any encumbrances on the property, such as mortgages, debts to banks, or other third-party rights to the property. This will help avoid potential legal problems in the future.
Registration Check: Ensure that the property ownership is registered with the relevant state authorities responsible for real estate registration. This will confirm the legitimacy of the documents and ownership of the property.
Legal Risk Check: Thoroughly examine the history of the property and its owners for any lawsuits, tax debts, or other legal issues that may affect your transaction.
If necessary, seek assistance from legal specialists, real estate agents, or other professionals in the field of real estate. They can provide you with the necessary consultation and assistance in document verification.
