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Precautions to be Taken in Real Estate Transactions
[Chap. 5.9]
3. Determine what facilities and amenities you want in your community or nearby. 4. Let your broker know your likes and dislikes and prioritize them for yourself and your broker 5. Eliminate houses as you search, keeping no more than three to five possibilities at one time. 6. Be prepared to make an offer and leave a deposit when you find the house you want Making a deal: When you find the home you are interested in, keep in mind these questions to ask your agent or broker. 1. How long has this home been in the market? 2. Is this the first time the home has been listed by this seller? 3. What items in the home are included or excluded from the sale? (Washer/dryer, refrigerator, window treatments, lighting fixtures, furniture, etc.) 4. Has there been any price reduction on the home during its listing period? 5. What is the price range of other homes that have sold in the neighborhood? 6. What are the demographics of the neighborhood? 7. What is the average time a house has been on the market in this neighborhood or area?
Verification of Documents
The broker or the purchaser should carefully verify the following documents before entering into any kind of agreement with the seller. 1. Title deeds: The first step is to see the ‘Original Title Deed’ of the property which the broker is about to show to the prospective buyer or the buyer who is going to purchase the property. It should be confirmed whether it is in the name of the seller and also if he has the full right to sell the same.