Property Under Construction
For a project under construction, you should ask for the allotment letter and development agreement. The allotment letter contains details regarding the agreed price, payment and construction schedule, house plans, delivery date and builder's liability in case of late completion or problems after possession. It is issued to the buyer upon payment of the 15% of the property value to the developer. The development agreement is inked between the builder and the landowner and contains details regarding the terms and conditions on which the landowner has permitted development of his property.
Investing in property - shared ownership
Shared ownership of property as a live-in home, holiday residence or ‘To Let’ investment is a viable option to finance your first property or to enter the property investment market. Whether you co-invest with a partner, spouse, friend or family, be sure to construct a solid legal foundation for this relationship.
An attorney should be consulted without hesitation to draw up a contract for every form of shared ownership, regardless of the investors’ relationship. This contract should specify roles, contributions and what should be done in the event that friendships dissolve, couples separate, one party sells, another wants to buy-in or an investor dies. A pre-emption clause ensures that when one party leaves the investment – for whatever reason – theirshare in the property will be offered first to existing shareholders and then to other parties.
An attorney should be consulted without hesitation to draw up a contract for every form of shared ownership, regardless of the investors’ relationship. This contract should specify roles, contributions and what should be done in the event that friendships dissolve, couples separate, one party sells, another wants to buy-in or an investor dies. A pre-emption clause ensures that when one party leaves the investment – for whatever reason – theirshare in the property will be offered first to existing shareholders and then to other parties.
You and the Seller Must Agree on Some Services
Settlement and Escrow
Title Insurance Companies
Termite and Pest Inspections
Also, che
Title Insurance Companies
Termite and Pest Inspections
Also, che
How Financing Details Affect Your Offer
Down Payment
Interest Rate
Closing Costs and Financing Incentives
Seller Financing
Cash Offers
Interest Rate
Closing Costs and Financing Incentives
Seller Financing
Cash Offers
Writing an Offer - Safeguards Regarding the Property
Disclosures From the Seller
Condition of the Property Upon Transfer
Inspections You May Require
Final Walk-Through Inspection
Condition of the Property Upon Transfer
Inspections You May Require
Final Walk-Through Inspection
Offering to Purchase Real Estate- the Basics
Introduction and Overview
Contingencies in a Purchase Offer
Earnest Money Deposit
The Closing Date
Transfer of Possession
Contingencies in a Purchase Offer
Earnest Money Deposit
The Closing Date
Transfer of Possession
Comparable Sales and Your Offer Price
Determining Your Offer Price
Comparable Sales in the Public Record
Comparable Sales in the Multiple Listing Service
Comparable Sales - Pending Transactions
Comparable Sales in the Public Record
Comparable Sales in the Multiple Listing Service
Comparable Sales - Pending Transactions
Subscribe to:
Posts (Atom)