Now, the real estate acquisition phase has started to be done in a much more practical way compared to the old times. You should have a professional real estate consultant who can guide you in accordance with the provisions of the legislation in other official works and transactions, especially title deed transactions.
What to Do Before Purchasing a Property?
Research is absolutely necessary before purchasing a property. After visiting the real estate, it is necessary to learn what the financial situation is. Payment options vary in order to purchase real estate under construction. There are some criteria in terms of payment and purchase price. In general terms, large amounts of cash will not be necessary for payment. In most cases, a safe method of purchasing is to process payment by wire transfer. If you are going to make a purchased or sale using loan, request a written confirmation of the loan amount to be given to you after meeting with the creditor.
What are the Necessary Rules When Purchasing a Real Estate?
The buyers are allowed real estate acquisition phases in the following matters; if real estate is to be purchased after using the loan, bank mortgage documents will be required. It is obligatory to have the original title deed of the relevant property. All sellers must have passport photos taken within the last 6 months (2 for buyers, 1 for sellers). All sellers and buyers must have the original identity card or power of attorney.
Determination of Current Market Value
The first action to be taken when purchasing a real estate is the necessary procedures for determining the current market value. The buyer should contact the relevant unit of the municipality in which the real estate is located. Municipality personnel will determine the square meter price in terms of the real estate in question.
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The municipality formalizes the amount of real estate to be purchased and then starts the necessary procedures.
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Tax clearance certificate is also taken together with the document containing the current value.
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The current market value of the house to be purchased is determined on a unit basis, provided that it is the highest value from the minimum.
While calculating the current value for the real estate acquisition phase, 3 comparable houses are determined from the neighborhood where the real estate is located and then their average is taken as basis.