Purchase of residential properties
It is well-known that those who buy property on the secondary market face higher risks. And this is equally true both for ordinary dwellings and luxurious mansions. Any omission on the part of the buyer may have all kinds of unpleasant consequences in the future: from endless repairs to administrative fines. That is why, when buying a property, you should pay attention to every detail, however minor. This will save you trouble in the future.
Our specialists will always draw your attention to possible pitfalls (for example, convenient but unlawful alterations to the layout). Such alterations or structural adjustments are the most common problem usually concealed by sellers (especially on the property market in the capital). No one argues that removal or relocation of a partition has made a flat more comfortable or that a two-storey summer kitchen added as an extension (but not specified in the design documentation) may indeed look quite impressive. Nevertheless, such transformations have a potential to make your future life quite miserable.
What can you do to avoid such a situation? Our specialist will ask the seller to present all the necessary documents (design documentation) pertaining to the flat/house. If the owner did change the layout or built an extension, he or she should have all the documents certifying that such alterations were approved by the apartment association or other competent authorities (in the case of a private house).
Another important and common problem hidden from the eyes of the buyer has to do the the utility networks. There may be faulty electric wiring or weak water pressure (water leakage). This can be easily checked. Our property specialist will make an expert assessment of the utility lines or invite our trusted partners who specialise in this field.
If an expert assessment shows that the utility lines are in a poor state and in need of expensive repairs or replacement, you can either decide against buying this property or buy it at your peril requesting a considerable discount to make up for future expenses. In any case, our property specialist will turn all the problems with utility networks to the buyer’s advantage by making the seller reduce the price accordingly!
When choosing a flat or a house, do not forget to take into consideration such a criterion as homogeneous social milieu of the house, district and city. Differences in financial standing and marital status, lifestyle, outlook and even religion may lead to misunderstanding and conflict between neighbours. The less people have in common, the more difficult it is for them to reach a compromise in a dispute.
The seller of a flat or a house will of course try to convince the potential buyer that the neighbours are sweet and kind people. When you move in, however, you may discover that some of them cause regular flooding, others like loud music at midnight, yet others have organised a tap-dancing club in their flat and there is a biker in the neighbouring house who enjoys the roar of his three motorbikes all year round.
Our specialist will always draw your attention to the neighbourhood in general and give you professional advice on the property and its real value mentioning all possible merits and flaws.
A property may not necessarily capture the fancy of a potential client right away. However, you should remember that the value of a property is determined by many factors: location, proximity of shops and public transport, views from the windows, infrastructure, parking and garage facilities, surrounding nature, future development plans etc.
Our property specialists will always spot crucial details which the inexperienced buyer may fail to notice when he or she first views a property. You can rely on our expertise in this field!
