The Risk Involved in Buying and Selling a Property


Real estate investment is very profitable and you will get a property sooner that has a better investment point of view. The cost of real estate is more favorable these days, it may be commercial or residential real estate investment.

chennai (I-Newswire) December 12, 2013 - Real estate investment is very profitable and you will get a property sooner that has a better investment point of view. The cost of real estate is more favorable these days, it may be commercial or residential real estate investment. Both are very tempting. But one must realize the risks involved in real estate and all the information pertaining to the asset as well as the agent has to be verified thoroughly.

There are agents, who are licensed and not bonded in the market, and there are many who don't bother about market updates or even check about the asset they are trying to sell is free from problems. There are make frauds that fled with the payment he gets from the seller or the buyer whom he is serving. Landlords and property buyers can use an escrow or other service that has similar nature. These services hold your money in one of your accounts and are put out based on the terms and conditions.

Before finalizing the deal do check for the title of the property. There are many title problems nowadays. You can also hire an attorney to clear all your doubts regarding the title of a particular property. The seller should have a US title clearance; check that before getting into a contract with him. If he doesn't have a clearance title then there must be some issues with the title. However we can't judge a person with just a US title clearance. You have to therefore be safe and receive the same purpose, but it can also happen that you dint get those insurance papers. You can however avoid these problems by dealing through the escrow. Ensure that your money is disbursed correctly, these escrow agents are highly recommended by real estate agents, you can also enjoy attractive incentives and your deal is done hassle - free.

The deal is more expensive and complicated. Foreigners who decide to buy assets near borders and coastal regions have to obtain a foreign investment permit and must hold the property or land title with bank's trust. These trusts provide service charge for about 1 to 500 annually. You can see the amount in your trust documents and ask your agent to look around for the best deals possible. Now imagine about the transfer tax. Compulsory payment of 2,000 as closing fees which is not refundable while selling an asset. You cannot under report the transfer cost because you may end up with huge fines and your asset will also be considered as illegal. You will be responsible for the seller's capital gain, if you allow the seller to do this. You are liable to pay the same, if the seller doesn't pay the stipulated capital income. You will also have to mention that the seller has not received any payment until he gains his capital in the contract.

There are many online real estate agents who are well - versed in the property field. You have to be a bit careful while getting into a contract with them. There are many fake real estate agents out there. Read testimonials or comments given by previous customers before commencing with them.






About Gracechurchproperty

Gracechurch - Leading North London estate agent dealing with buying, renting, selling, & letting pro   More..perty across London & UK. Call for free property Valuation.Less..

Contact Information

Gracechurchproperty
krishnaveni
No.125-B, MTH Road, Krishnapuram, Ambattur, Chennai
No.125-B, MTH Road, Krishnapuram, Ambattur, Chennai
600053
Phone : 9944136313

Published in:

Small Business

Published On:

December 12, 2013

Print Release:

Print Release

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