Take your time
Even if attractive offers always find a buyer quickly and you miss the one or the other beautiful house: Only buy a property that you are really convinced of and that you can afford. There is no two-week right of revocation in the land purchase agreement. If you have signed the contract, it is binding. And after a short time to sell again, is often possible only with loss home buyers houston.
The time to think about it is before issuing the notarization order to the notary. If you have commissioned the notarization and have received a draft, the withdrawal of the notarization order costs as much notary fees as the execution of the notarization.
Only buy what you have seen and tested
It should be understood that a buyer looks at an apartment or house before buying it. But especially when rented apartments for investment you will always meet buyers who refrain from it. Do not do that. No brochure and no photo can replace the personal inspection on site. Also check the environment (location, infrastructure, neighbors). A great house in a miserable location cannot be moved elsewhere.
In any case, it makes sense to have the property inspected by an expert before the contract is signed. As a layman you cannot recognize many defects yourself. The expert should prepare a written opinion so that you can hold him liable if he has overlooked any shortcomings.
Obtain a resident certificate. From this you can see whether all development facilities (road, Siel) for the property have been completely manufactured and paid for or whether any costs will be incurred in the future. Residential certificates are issued by the tax authorities in Hamburg.
You are responsible for the economic and actual decisions
The notary ensures that your purchase contract is legally secure. It stipulates that the buyer must pay the purchase price only when his claim for no-load property transfer is secured, and the property is only rewritten to the buyer when the seller has received the purchase price. The notary is not responsible for the actual condition of the house and the plot. The notary also does not check whether the agreed purchase price is appropriate or customary in the market. Even if the notary had doubts here, he should not comment on them because of his duty of neutrality. As a buyer, you decide whether the property is such that you want to buy it, and what the purchase price is worth to you.
It is your sole responsibility as a buyer to verify that the object is suitable for your purposes. If you buy a piece of land as a construction site, inquire in advance at the building authority whether the plot of land and the development you have planned for it, whether there are construction charges and whether the development is secured.
Clarify the financing before issuing a notarization order
Before you hire the notary to draft a contract of sale, your funding should at least be clarified in principle. This does not mean that you have already signed a loan agreement, especially since most banks want to see a draft bill before issuing a binding loan commitment. The bank should at least have signaled to you that financing will not be a problem with your income and assets. And that’s what the bank should have confirmed to you, not just any financial intermediary on the internet.
Allow enough time for the transaction
The execution of a real estate purchase contract takes some time. After the notary has drafted a bill of sale and the contracting parties have approved it, the notary’s date of authentication takes place. The notary then requests all declarations needed to complete the contract and request the registration of your reservation. Only when all this is available, the purchase price may be due. Only then can you pay. Only after the payment you will receive the keys.
How long it takes until the conditions for the maturity of the purchase price payment, can hardly be answered in general. It depends on what is needed and how quickly the body whose declaration the notary requests will respond. However, you should normally assume that at least four weeks will elapse after the contract is signed until the notary has the necessary documents to process it. The more documents needed, the sooner this period will be extended. It takes much longer if the purchase contract still requires a court approval (for example, because minors or carers are involved as contracting parties). The delay through a judicial approval procedure is at least three months, in some cases significantly more.
On the other hand, your financing bank also needs time to pay off the funds. Please keep in mind, that at the moment unusually many people buy a house or a flat and therefore the banks are heavily overloaded. In addition, the legal requirements for lending will be tightened. Both of these factors mean that bank processing takes much longer today than it did a few years ago. Ask your bank when it can actually pay the funds.