Planning to buy a house, any thoughts?

[glitch]

Don't make any moves until the things are handled between your aunt and the owner. If you move ahead, it can backfire on both of you. Sometimes it takes a few months to sort this stuff out.

 

[tyrim88]

I know you're eager to have a house of your own but please be patient and let your aunt sort ownership else there'll be issues in the future that you might not be able to handle. Besides, how do you prove you're the owner of the house without documents?

That is just what most persons do not really understand,because when it comes to the issue of property the need to have the authentic documentation is very important here.

 

[Kvngsammy]

That is just what most persons do not really understand,because when it comes to the issue of property the need to have the authentic documentation is very important here.

I know of a seasoned real estate investor who's about losing a large amount of land because of fake or improper documentation. Now that land is about to be taken over by the government. No amount of investigation should be too much to sacrifice.

 

[Alisco]

Actually there are quite a numbers of though that you should always consider before buying any how. try to suggest a location favourable for you and the kind of structure you want to buy.

Legal issues should also be highly considered,it's better for a property to be damaged by natural disasters than for some one you trust to claim your property. In buying a land or any other property involve legal bodies.

 

[tyrim88]

I know of a seasoned real estate investor who's about losing a large amount of land because of fake or improper documentation. Now that land is about to be taken over by the government. No amount of investigation should be too much to sacrifice.

That is one thing that most investors and sometime practitioners in the field usually fail to do,because once the documentaion is not there it can be a very serious problem.

 

[Agbalagbaa]

Buying a house in developing countries is not that difficult because it doesn't comes with tax attached to it. O intend to buy one very soon after collecting my Investment profits.

 

[Setho]

The most important thing is that you should be able to inspect the house and ensure that it is of high quality. Legalities is also a very huge thing to consider but you can hire a lawyer who can be able to cover it for you.

 

[Alisco]

Its a nice idea to buy the house but you don't have to be Hasty in taking such a decision. I advice that you wait for the document name to be transferred to your aunts name before you can start the partly payment to avoid unnecessary legal issues.

 

[eenya001]

if you are hasty in taking your decision about house buying, you might not make the right decision, as buying a house is something you should take your time and make the necessary research.

 

[Good-Person]

Don't make any moves until the things are handled between your aunt and the owner. If you move ahead, it can backfire on both of you. Sometimes it takes a few months to sort this stuff out.

I also think that same. It is much better to sort out things and make it possible for the process to run smoothly. A person may encounter many issues such as this and it is better to make things easier by not making things complicated.

 

[Shigobad20201]

In my own opinion, you should wait till the transfer of ownership has been done and finalised before paying for the house , though i don't think there will be any problem since she has the paper's to the house and the legal backing .

 

[Jonaville1]

My aunt owns a lot of real estate, esp houses that she let people rent and I am planning to buy (through staggered payment) one of her houses. However, I just discovered that the property/building is not yet transferred to her name because the previous owner lives abroad and hasn't come back yet, although they have documents that it has been sold to her already.

Do you think there will be legal issues later on, in case I start paying for the house now? Should I wait for the building to be transferred to my aunt's name before I start paying it? My aunt is trustworthy tho, just seeking for advise.

Thanks!

If you do things in the right manner, I don't think you are going to have any legal issues as long as you are not owing her a lot of money and as long as you buy through the right way

 

[Castelione]

In my own opinion, you should wait till the transfer of ownership has been done and finalised before paying for the house , though i don't think there will be any problem since she has the paper's to the house and the legal backing .

Yeah, this makes a lot of sense and really less risky to be honest. I appreciate your insight!

 

[Kane]

In my home country, you can buy a property from a person only when he has the property document. The property document should clearly state that he is the owner of the property

 

[joy101]

I think I have to advice you to wait first because I know you want to own a house of your own, you should wait let your aunt handle it first, before thinking about buying the house you need to be patient ok.

 

[Busybee]

You have to wait until your Aunt receives the title in her name and in turn makes an agreement to transfer it to you over a period of time since you are going to make staggered payments. It is not advisable to pay any money in the hopes that you will be the owner some day.

 

[Trey]

You don't need to wait until it's transferred to her, as far as she's paid for the building and is with the reciept, I'd advice you go make your payment. You must get prove of payment as this alone will give you a legal authority should there be any dispute in the end. Your aunty might be trustworthy but you still need your prove of payment to secure your refund of funds should there be any conflict in future.

 

[Shigobad20201]

If you are planning to buy a house in order to start your own real estate business , the first thing you need to take into consideration is the location , because if you want to keep making money early , then you need a perfect location.

 

[eLdavis]

Though there are already documents indicating she bought the property, but as long as the name has not been changed indicating that your aunt is the rightful owner, i would advice you wait until everything legal has been sorted out. Just for you to be on the safer side first.