Lubavitch Real Estate Blog

We will give a list of errors to avoid when buying a home, applied to the world market.

a)  Waiting to sell your home, before buying the new one. This is how the market is one of the worst mistakes you can make, buy a home without having sold theirs.

b) Make sure the bank will grant a mortgage. The days of easy mortgage credit are over. Before committing to the pledge in a purchase sale of the property you’re buying, make sure that the bank will grant a mortgage. You can be surprised that you may lose the deposit because the bank does not give you funding. Is not just the word of the director of the financial institution, the bank asks you to make a binding offer in writing.

c) Negotiate the price. Today the power is in the hands of buyers, not sellers, so do not hesitate to negotiate the price down and be patient, time is on the side of the buyer.

d) Beware of Arras. Although attempts have awarded funding to the delivery of housing is fast and avoids pay a high amount in the deposit.

In the properties of construction plans the developer is required by law to give you a bank guarantee for the money you give to account as the house is built. Do not forget to ask. In the event that the builder into bankruptcy is the only chance you have of getting your money back fairly quickly.

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