Tips to avoid pitfalls in real estate transactions

in Blogroll by admin On June 29, 2018 0 Comments

Just like the Super Eagles, preparation and adequate planning is key in making decisions and avoiding unforeseen occurrences. So also, in buying or selling property, being adequately prepared and equipped with enough relevant information is essential in getting the best from your transaction.

“Caveat emptor” (let the buyer beware) is a well-known phrase from contract law that often applies in property transactions. Here are some tips to help buyers and sellers avoid pitfalls in any real estate transaction:

Consult a Realtor: The most important decision to make in carrying out any real estate transaction is enlisting the services of a reputable Real Estate Company. Real estate agents are equipped with adequate knowledge which goes a long way in preventing some avoidable circumstances.
Title Documents: The last thing anyone wants to worry about is the authenticity of their real estate transaction. Possessing all the necessary titles and documents is important in ensuring that you will be making a bonafide transaction and this will avoid any legal issues in the long run.
Neighborhood: The neighborhood surrounding the property should also be considered alongside the purpose for which the property would be purchased. Here you should consider drainage, proximity to necessary amenities and transportation routes, flooding tendencies and so on.