Buying a property is an investment that requires several tens of thousands of euros, often hundreds of thousands at times. Making such a purchase without the proper precautions can be a bad idea. in this article I want to give you the tools you need to know, and avoid, the risks associated with this complex procedure.
What are the risks I can encounter when buying a house?
The main risk is to buy a property that has urban or legal differences that prevent its full and regular enjoyment. Let's take some examples:
Buying a house without first checking that the actual state of the places corresponds to what is authorized by the municipality, through an adequate urban planning check of the authorizations granted, exposes you to unpleasant consequences:
- You have to bear the costs of regularization or sue your salesperson to get them to regularize everything
- You will have to be able to incur costs for the demolition or restoration of some parts of the building
- You will have to pay joint penalties to obtain the amnesty
- The house you had chosen for certain characteristics is actually different from what you imagined
If you are buying a house from a real estate agency, you must know that the latter is required to inform you of all the circumstances known to it relating to the property and the seller. When bidding, be sure to include a clause that allows you to access all town planning documentation before paying a deposit and concluding the agreement.
The risks of buying a house without first checking the legal aspects
In addition to the risks associated with urban planning non-compliance, there are those associated with legal non-compliance. It is a little more difficult to "run into" this type of problem, because at the time of sale the notary checks these aspects and informs the buyer of any legal problems.
- If you discover legal constraints on the property after the preliminary agreement, you run the risk of having paid a deposit for a house that is not actually what you wanted
Some legal constraints related to the building cannot be removed or fixed, so it is good to know all aspects before buying a house
The resolution of certain legal aspects takes a long time, so it is important to know in advance how long it will take to have the cards regularized to schedule entry into the house.
What are the documents to be requested to avoid risks when buying a house?
In addition to the main dynamics that I have illustrated previously, it is good to know that there may also be other issues related to the house to check before making a purchase:
If it is an apartment or a building that is part of a condominium, it is good to check what the condominium rules are, if works have been approved and if there are slopes at the condominium level. Entering a building where many condominiums do not pay the condominium expenses could expose you to a dizzying increase in management costs!
It is also good to check what are the developments in the area where you want to buy. If you are buying in a new subdivision, it is good to check the intended use of the neighboring land, to avoid buying a house next to a new industrial area or a landfill under construction!
List of documents required to buy a house without risk:
With the help of a surveyor or an architect, it is good to check all the town planning and cadastral documentation related to the house, namely: floor plans, cadastral surveys, usability, building permit, graphic tables with the approved project of the property, amnesties and any amnesties.
Previous deed of sale. In fact, any restrictions or special clauses related to the property you are buying are mentioned in the sales contract
Condominium regulations, to verify any restrictions or rules of use of the common parts
Last minutes of the condominium assembly
Last final balance approved by the condominium assembly
Mortgage certificate of the property to check if there are any mortgages or disputes transcribed on the property
If you need advice for the sale or purchase of your home you can contact me, we will see your specific case together!