Tips when buying land for investment
BUYING land for the purpose of investment is a good decision anytime, but experts at Fanaka Real Estate Ltd say the following tips will help before and when paying for the land:
Don’t make a deal on your first visit. Don’t buy impulsively. Don’t make an offer before scoping the property. Conducting due diligence on a property is very important.
Visit on a cold, rainy miserable day. Look for water problems in the area. Is the area a flooding zone?
Visit at night and on weekdays. Is nighttime lighting offensive? Traffic? Noise? Odours?
Submit your offer in the lowest low of the off-season. Early January is a great time to buy rural property outside the city.
Never confide in a real-estate broker or agent who is working for the seller. Never reveal your finances or your best price. Never tell such a broker or agent that you love the seller’s property or that you need to have it. It is always advisable to deal directly with real estate companies.
Thoroughly go through the sales agreement to ensure you totally understand each and every phrase.
Have your local lawyer with you when you present your offer to the seller or his agent. Have your lawyer help draft any last-minute changes that are needed to get the deal done. If you’re not confident in your negotiating ability, have your local lawyer dicker with the seller over price and terms.
Ask the seller to provide all the required documents associated with that particular property.
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