7 steps to avoid losing billions when buying real estate with red book and pink book

Recently, some lawyers and legal experts have recommended that investors should take at least 7 basic steps to avoid billions of dong in losses when buying real estate with red books and pink books.

Step 1:Check the necessary documents.First, are the legal documents of the property complete and legal? These include a list of certificates, notices of payment of registration fees and receipts of payment of registration fees, completion documents, annual land tax notices and tax receipts...

Currently, fraud by trading fake red books and pink books has appeared on the market. To prevent counterfeit goods, investors should hold these documents in their hands instead of looking at them or looking at photos. Touch and feel the surface of these documents as well as note the serial number, barcode... If you do not have knowledge about this, you should bring a legal expert for support.

Step 2:Check mortgage status. Home buyers need to check whether the property is mortgaged? If so, is this mortgage made at a bank or at which organization? If the mortgage is at a bank, where should the deposit request be made and what procedures need to be prepared?

Step 3:Check authenticity. Have you accessed the property correctly and with the right owner? Is the file you have provided complete and valid? What is the marital status of the landlord? If married, you need a marriage certificate and if divorced, you need a divorce decision/judgment, confirming your marital status (single). Are the personal documents of the landlord for sale complete and legal? These documents include: identity card, citizen identification card, household registration book...

Step 4:Check the right of disposal. Does the seller have enough people (owners) to sign the sales contract? If not, does the absent person have a power of attorney to sign on his behalf? Does the seller sign the contract at the notary office at the agreed time? Do we have to wait for enough co-owners or just one person?

Step 5:Go to the scene. Real estate buyers and investors need to check the actual status of the property. First, consider whether the actual status of the property is consistent with the record on the certificate or not? If not, it needs to be renegotiated. Buyers need to consider the possibility of checking the legal status of the property themselves at the competent authority, neighbors...

Step 6:Consider usage statusof property. The questions investors need to ask before buying real estate are: Is anyone living in this house or land? If there are people living there, are they renting or using this real estate in what form? This is a way to check whether the property you are about to buy or invest in is being occupied or not to avoid troublesome disputes later. In addition, it is also necessary to survey the ecosystem or living environment right in the house or land?

Step 7:List of assets. Buying a house or land also has many related assets on it. Therefore, the buyer needs to pay attention to whether the items and equipment attached to the real estate are consistent with the original purchase agreement between the parties or not? It is also necessary to determine whether it is necessary to make a list of assets or not? If so, it should be made and checked carefully.