Want to acquire property. Help needed…………

[Fairfax4]

Hi everybody, I am looking to purchase a property and need to check out the legal liabilities involved in that. I don’t know what exactly are the legal issues that I am going to face … but need someone to take care of that … Need your suggestions on this!!!

[you6]

It is quite necessary to take a note of the legalities involved with the acquiring of a property and you should pick a good firm to assist you in that. My cousin had recently been involved in an insurance claim issue and he had taken the help of Greek Lawyers to get his problems solved and they would be a good choice for you too as they deal in property issues also. He was quite positive in his feedback from the case and I hope that it will benefit you too.

[jeffreyxyz]

Hi there,

* Do not sign any contract without FIRST having your lawyer look it over. Let the selling agent fill it in, as if you were going to sign. But when they then pass it to you, take it and say "I'll have my lawyer review it first".

* Do not think the real-estate agent works for you even though they claim they can represent both parties at the same time - pure garbage.

* The agents at open-houses are frequently NOT the selling agent and will demand to be considered 'working for the buyer'. So go to open houses to learn about market prices and availability, but contact the selling agent directly to see houses you are serious about.

* Since the commission is split between the two agents, talking only to the selling agent directly means you will have about 3% of the price to negotiate with.

* Do not assume that you can borrow $$$ just because you have equal assets (that are not saleable for cash). Get; your mortgage approved first.

* Understand the difference between freehold, leasehold and the many kinds of co-ops before you start wasting people's time.

* Even if you are paying a lawyer, do not sign any contract that does not allow to back out, and still get your deposit back, if you find something amiss. You will be signing the contract while still completely ignorant. So put in 'subject to' clauses and then do your due diligence before signing off on them.

* Be aware of the wording of clauses. "subject to approval of ..." should not be replaced by "subject to the receipt of ...".

* Don't engage an agent to work with you. They will demand that you buy SOMETHING. In reality you often have to keep looking for months/years before you find exactly what you want.

* Have a hefty deposit ready and tell people how much it is. Nothing breeds respect like cash.

[Matthew Sherborne]

That's some great advice about acquiring properties Jeffrey. You raise some really important points. I especially agree that you need to recognize that the real estate agent often represents their sellers interest over the buyers unless the buyer (you) contracted them first.

[Yanna]

Hi
As you are looking for property, I would like to say think before investing money. Like where you are taking property, cost of the area, society, security, and the business around that place. All these thing will help you in taking the right decision.

[cathywoody]

The tips provided by Jeff and others are really good... Follow them. Also consult any lawyer who is an expert in property issues...

[Teguono]

The advice given by Jeffrey is a professional one and will want you to take that into consideration.You see, the agent may not represent you very well.You need the guidance and advice of your lawyer to make a good decision.

[Teguono]

The advice given by Jeffrey is a professional one and I will want you to take that into consideration.You see, the agent may not represent you very well.You need the guidance and advice of your lawyer to make a good decision.