Buying a house is a huge step in anyone’s life. While the whole procedure can be long and arduous, the decision making process really takes a toll on people. So to ease that process up for you and guide you potential home buyers through the whole procedure, here is a step by step guide. So you know what to expect
Step 1: Plan your budget and get an advance financing commitment
Before you start looking for a property, you should get an overview of your financial possibilities. Make an honest balance: What is your monthly income and what are your monthly expenses? How much you already have in savings and what kind of financial assistance you can get in form of bank loans etc.
Step 2: Find the right property
Finding the right property to buy can be a daunting task. You need to consider many factors before making a decision. Alaziz Builders is one of the leading construction companies in Islamabad and can help you find the right property for your needs.
Alaziz Real Estate offers a wide range of properties to choose from, including villas, apartments, commercial property and land. We have a team of experts who can help you find the right property for your needs. Alaziz Builders is a trusted and reliable company with over two decades of experience in the construction industry. We have a reputation for quality and excellence, and our clients always come first.
Step 3: Make appointments to view the house
Have you found a promising property? Great, then make an appointment for a house inspection with the broker or the seller directly as soon as possible.
Prepare for the home tour
Familiarize yourself with the location of the property by strolling through the residential area for a while right before viewing. You should also look through some documents: To get an idea of the most important key data of the property, take all the information that you can get from the broker or seller, including the parcel map, approved plans (for new buildings) and the energy performance certificate.
Procedure for an inspection before buying a property
When visiting a house, you face the challenge of paying attention to several things at the same time: atmosphere, room layout and furnishings, but also possible damage. Pay particular attention to the basement, roof, heating and drinking water system, windows and doors and the facade. It is best to be accompanied by an expert, for example an appraiser.
Step 4: If you are interested in buying, see the land register
You have found your dream house and it meets all your needs. Next step is to find out about any and all finances relating to the property. Are there any mortgages on the house? Property taxes that haven’t been paid. Any outstanding dues for repairs or renovations the previous owner may have made.
Step 5: Agree on the price negotiation with the seller
Next step is then to negotiate the purchase price with the seller. Think in advance about the maximum price up to which you are willing to call. In the case of older properties, you should factor in modernizations and discuss the costs openly during the negotiation. Do not leave anything to chance and do not forget broker’s commission.
Step 6: Draw up the sales contract
When you buy a property, the purchase contract must always be notarized. The buyer may determine the notary, but this is not often regulated by law. Often times, the broker suggests a notary with whom he works frequently. The seller or broker passes on all relevant information about the property as well as any agreements made to the notary, who then creates a draft contract – the preliminary contract – and hands it over to both parties for review. This can also be done very easily in an initial joint appointment by e-mail. If there are no more requests for changes and the contract is in place, the next step when buying a house is to sign the contract with the notary.
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