You usually buy an existing property “as seen”, and the seller almost always excludes the warranty. It is therefore good to recognize the sticking points and to be able to assess them well. In reality, you may have little time for this, because sellers or brokers like to push for a quick decision. It happens that brokers let the interested party sign a reservation agreement. The aim is to increase the pressure on the potential buyer by incurring a fee of several thousand euros for a non-purchase. The Federal Court of Justice has ruled that such an agreement is not legally effective. Make a visit to https://www.findnctrianglehomes.com/ here.
If you are thinking about buying an old building, you should not place too much emphasis on the actual age, but much more on the condition. In general, you can say that the old building must always be less expensive than a new building. As a rough indication, when buying a property that is older than 30 years, 10 percent should always be taken into account as renovation costs.
Inspection with a specialist
A big advantage of the old building is that you can immediately see what you’re getting, at least in the foreground. However, as a loan, it is difficult to see whether, for example, the lines are out of date. However, most problems arise with sound and heat insulation and with moisture in such old buildings. It is therefore advisable to always take a specialist with you on a visit. With his trained eye, he can look out for typical vintage problems such as asbestos in the buildings of the 1970s.
Pay attention to the location
The environment is very important to feel comfortable in the new property. Criteria such as transport links, shopping, schools and the neighborhood should not be underestimated. It is advisable to arrange three to five viewing appointments per property in order to be able to assess the surroundings as well as possible. A Street that is just a quiet bypass at the weekend can quickly become a busy street during the week.
Read the minutes of the owners’ meetings
When buying a condominium, the potential buyer should always have the minutes of the last 5 years of the owner meetings given. As you read, you can see which repairs have been proposed, carried out in the past few years and, above all, which have not been carried out and which may be pending. You also get an impression of the community of owners. Almost unanimous resolutions suggest a harmonious community. In contrast, a continuous session of more than 4 hours indicates a difficult community of owners.
Be careful with the building description
It is important to listen to the addition “or equivalent”. This can often be found when the agreed product is not available. Such a small addition can have a big impact and be interpreted in many ways. The professionals have decided that such a clause is therefore not legally effective. The exact make with brand and model number should, therefore, be included in the building description. In the event of delivery bottlenecks, the developer must offer comparable products, whereupon the builder then decides. It is also important to show the pure model price excluding the assembly costs.