Basic needs to buy Real Estate property

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Do you know the right time to buy the real estate property? Are you watching the market trend? Well we are! The experts opine that now is the ripest time to buy a real estate property. The sales were really sluggish in the last quarter ending September 2014 and in many cities the real estate agents top builders like Dreamz GK, Amigo Shelters, Concorde group etc are seen to come out on the streets with banners and posters and have optimistically dusted their offices with the hope of market trend to show positive turns.

The stocks have piled up with the new launches going down. But in cities like Pune, this has not resulted in price cut. Realtors are still desperate for more customers and sales with the bank interest going up. The investors and purchasers were looking forward for the market to be steady and were not gaining trust on the reliability of the market conditions. The prices were high which was not matching the buyers’ assessment of affordability. In such market conditions the enquires started pouring in but the sales were lesser in number in the last quarter with the market watchers opining that the time between sales and enquiry in the last month has decreased denoting that the buyers motive for purchase has been on the positive side. The market experts and veterans feel that this is the best time for purchase of real estate property as the market is supposed to be on the wheels after the first half of next year that is 2015.

Here are few guidelines as to how to go about a real estate purchase. What are the dos and don’ts regarding the Property purchase of land or apartment and how to go about it?

buying-processFind a real estate agent:  

Online help can be really fruitful in locating a real estate agent. One can check the Yellow Pages to find out the real estate agents in your area and then an online research can be done regarding them. One can also use any bulletin boards or blogs or even reviews or product of builder’s and sites/land reviews to find from people’s experiences and customer’s reviews. A large client base can help you locate a property faster.

Be watchful of the market conditions:

Although a real estate agent is supposed to do it, one should be aware about the market prices to avoid being charged more. Realtors want you to get the best price but often due to business compulsions and in getting the things done faster they may want you to take a property which may be a little more highly priced.

Be aware about the area:

Check out the area and be watchful of the surroundings thinking about what can happen when you shift into the new house or apartment. Although recommended that an area should have an employment generation capacities, but it would be stupid to move into an area where there is a factory in the neighbourhood without checking the pollution, noise and other things that can affect your quality of life.

Get the area inspected:  property-inspection-1

Get a qualified technician to inspect the property for any damages if at all, in the water supply connections or electricity connections along with the structural robustness of the building. If any snag or defect is found, insist the seller to slash prices or pay for the corrective measures.

Bargain a bit:

It is not wise to assume that your dealer has brought the best deal. It is advisable to check around the locality for cheaper rates.

Negotiate with wisdom:

One must make sure that the appointed real estate agent is trying for bargaining the best price. If the price seems to be very cheap, check thoroughly and try to be sure that there are no hidden reasons for it.

The hints and tips given above are the basic steps and options for real estate investment. On the whole the buyer must keep his or her eyes and ears open while making the deal. It is always good if one keeps a mental list of what needs to be done and advance strategically.

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