Home buying tips
Home buying tips:
Buying a property is not an easy process and most buyers are so overwhelmed with anxiety that they become indecisive. Also, most buyers make a lot of mistakes until they realize the order things should be done.
- Identify the area in which you want to live or invest. When choosing an area, consider the following: Distance or access to your work, where your loved ones reside, what the current situation and future of the area is and others.
- Determine the amount of money you intend to invest.
How much cash do you have? Subtract from this amount your expenses such as notaries, lawyersand real estate agents fees, carriers, possible renovation costs, furniture purchases, etc. Ask and get a written bank loan approval. If you have a low income is there anyone that can guarantee for your loan? What monthly loan installment can you pay?
- Identify your basic housing needs by asking yourself the following questions.
- How many bedrooms do we need or will need in the coming years?
- How important is parking space to us?
- How necessary is the bus stop or public transport in general?
- How many baths or toilets do we need?
- How essential is the view to us?
- How much do we need a fireplace?
- How necessary are schools, kindergartens, special schools etc in the area?
- How necessary is it to have a SUPER MARKET a local market, malls etc. in the area?
- How necessary is a church, entertainment,facilities, a sports area, parks, doctors, etc.?
- How necessary is it for the property to be near the home of our parents, relatives, friends etc?
- Did you compile a list of all your “I want” instead of “how necessary it is…”? We all want the best, yet everyone’s financial capabilities also determine the size of the “want” and “I need” list. When you find a property that meets 70 – 80% of your listing then you should buy it.
- In any case, once you know what you want and how much money you can invest, there is no reason to see properties that do not suit you. If you first ask your real estate agent or anyone who sells the property the right questions, then you will save time while finding exactly what you want and at the price you want while maintaining your peace of mind.
- Keep details of the properties you have been shown and make comparisons, not only based on their price per square meter, but also on their location, floor, quality of construction, advantages and their age.
- If your time and peace of mind are valuable to you, stop looking for ads, determine the criteria that your future property must meet, and choose a good real estate agent who is active in the area you are interested in and let him / her look for you.
- Be flexible. Some buyers are literally stuck when it’s time to make the big decision. Really, what’s more important the dream home you need, or is it more important that Grandma’s dining room fit into your new home? You need to sacrifice something! Don’t try to adapt your new home to the (most of the times) useless subjects you bought for the past house.It was other times, and they meant to meet other needs.
- When you and your real estate agent find the property that suits you best, leave thenegotiation to him. Negotiating is for him something he does many times in his everyday life, while for you it may be the first time. Avoid appointing additional negotiators such as a relative or your lawyer, not only because they may not know the art of negotiation, but also because there are many chances to cause misunderstandings that might end up cancelling the purchase.
Documents for sale of real estate
The process of selling a property involves gathering a large number of supporting documents, mainly from the seller’s side. The notary and the lawyers shall ensure that the Contracting Parties are informed of the actions required and supporting documents to complete the transfer process. The supporting documents the seller must collect are the following:
Title of acquisition of the property:
If the property comes from inheritance, parental benefit or donation, similar certificates are required for the non-payment of the corresponding tax (inheritance, parental benefit or donation) Certificate of Transfer of the Property to the Registrar Tax Information that the transferred property did not provide him with any income or, if he did, with a certificate from the same Tax Office that he submitted income tax returns and declared the income from the immovable property Owner’s Statement considered by the DOJ stating that it has included the transferable property in Form E9 and has no obligation to submit a declaration of large real estate. In case of such obligation, a certificate is required from the DOJ that the declaration has been filed, the transferred property has been included and the tax (VAT) has been paid. Certificate from the municipality to which the property belongs that no real estate tax is payable(TAP).
The issuance of the certificate requires the submission of a copy of the title deed to the competent Municipality and the last payment of DEI’s account. Cadastral Excerpt from the Cadastre Service if the property is located in an area included in the Cadastre or otherwise certified by the Hellenic Cadastral and Mapping Organization, that a timely declaration has been submitted for the transferred property. Last ten years or the seller is a trader, freelance professional or participates in SA. or Ltd. Validated copy of the building permit and or statement of responsibility according to the year of construction of the property (before or after 1983) Recent Topographic Diagram of the plot with the statement of the engineer who drafted it only if the property for sale is a plot with or without a building or parcel located within a residential control zone.
The phenomenon of people appearing in the market, who declare themselves asreal estate agent, has often been observed without essentially havingthe required qualifications for this field.
There is much more to real estate than just knowing what is sold and how much it costs. Also people occupied in another profession havebeentrying to make real estate transactions. That is illegal.
Knowledge of market conditions, estate, prices, trends, future prospects and at least the basic local urban planning rules is required.
The legal and experienced, professional real estate broker has created the required infrastructure with legal and technical consultants and is ready to propose solutions safely ortackle potential problems arising from a sale, with consistency and responsibility!
Essentially you should pay attention to the following points:
– Avoid real estate ads that simply refer to the word “Real Estate” followed by a cell phone number and not the clear reference of a real estate company name and its phones, or if you call the ad phone and you are informed that it is a <real estate> agency, ask for an appointment at the real premises.
– Under no circumstances should you accept to make payment of any amount, even as a down payment, to be shown a property or to sell / rent your property and if an amount is requested speak to your lawyerbefore you proceed to any payment. The broker’s fee is always paid by the signing of the definitive contract, pre-contractual or contractual.
– The indication of any property or the assignment for sale / rent must always be in written form with the data of the prospective buyer or owner as well as the details of the property, the sale / rent price and the broker’s fee.
– Never sign more than one Exclusive Broker Orders for the same property, if you are referred by another estate agent a property that you have already seen, you should refuse to visit it because you will be obliged to pay a payment for every exclusive broker order you have signed.
– The broker is obliged to investigate in every detail the housing needs of the prospective buyer, to indicate the appropriateproperty and to mediate the final price. Legal or technical advice is given by a legal and engineering consultant of the real estate agent or by consultants of your own choice.
– Avoid seeking advice over the phone, seek an appointment with your real estate agent to speak to and let the agent understand exactly what you want and how much you want to spend so that the real estate agent can offer effective service.He must know exactly what you are interested in and to do so he needs something more than just a phone call.