Real estate investment is the best and the biggest investment you will ever do in your life and so, it is very important that you know all about it and you are making a sound effort for the same. However, before you dip into the Papagayo real estate properties, you need to be aware of the hundreds of thousands of dollars and the information getting into the tycoon of being a new business. You need to be aware of a few tips that will help you to take into consideration the important tips that will come in handy when buying your first property in the city.
• Approval and licenses: Once you have found the type of property that you were looking for, it is time that you ask for the licenses and the approval of the real estate board of the country, which states that the property is legal in its construction and that you are legit enough to buy it. It is generally the job of the builder to show you these papers so that you can know the status of the land title. The approval and certifications will include the title deed, release certificate, encumbrance certificate. land use certificate, approvals from the local body and property tax receipts.
• List of all the banks financing the project: you need to have a list of all the banks that are financing the project so that you know about whether you are indulging in an unsold property that does not even have the cash to complete the loans on all the projects or not. Many builders do not a loan from the banks at all, so you need to know if such is the case with the property you are going to buy.
• The total cost of the property: Many a time, agents who are selling you the property do not know much about the basic cost and all the other fees that are also required. That is why you need to know the development cost, the location charges, parking charges, service tax and all the other costs that might be required to be known by you.
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