Although there is enough money to buy real estate, experts advise that customers should still use the right to borrow money to buy a house because they will be helped by the legal management of the bank.
You should borrow from the bank to buy a house for free legal screening
According to experts, one of the easiest ways to do real estate legal checks is to actively take out loans. In fact, sometimes, getting a home loan helps bring more advantages than fully proactive costs. Therefore, for ‘law-blind’ customers who want to check the legal status of the project, they should actively borrow money from banks even if they have enough finance to pay. Because all banks have very strict legal profession, will protect the interests of buyers.
According to the explanation, customers have the right to borrow, during the loan process, the bank will carry out a series of operations to check the legal of the project, so that the legality of the project will be reviewed. a basically. If the legislation is not good then the project will almost certainly not be disbursed.
As a general rule of the credit industry, banks will not lend at all costs because they have strict lending regulations and must eliminate bad debt (problematic or potentially risky projects). That also means that, in addition to the role of credit granting, banks are also an effective assistant to help investors to partly ensure the legality of the project.
Find unusual details of the property through ‘X-rays’
When buying, selling, investing in real estate there are many risks that most people cannot see with the naked eye. One effective way to tell if a property is risky, is to take “X-rays” to see through the “inside” elements and “read the film” to detect the risk. Buyers and investors can do this by themselves or with the support of a professional unit.
The main types of certificates are the results after the real estate X-ray, including land use and house ownership certificates, land use right certificates for the entire project site (may include many books combined), 1/500 planning. Buyers can check and detect unusual information by comparing actual real estate images with information in the books. Before deciding to pay down to buy real estate, the buyer needs to find out the solution to these unusual details, thus reducing the risk.
Check real estate travel documents
Another expert shared, in the provisions of the law, there are 2 mandatory conditions to protect consumers when trading assets formed in the future.
It is a written notification of the project’s eligibility to sell a house issued by the Construction Department and a bank guarantee certificate. If the property you intend to buy does not have either of these travel documents, customers should be very cautious about cashing down.
Specifically, if the real estate in the project has a document certifying that the project is eligible to sell a house to be formed in the future announced by the Department of Construction, that project has completed all legal documents as well as finished the foundation. This is the legal time (specified in the law) that the project investor is allowed to raise capital from customers. The safety of real estate will increase when the progress of projects announced by the Department of Construction are eligible to mobilize capital, which means that the works for sale are ready to step into the construction of the body.
And the guarantee certificate issued by the bank makes sense, in case the project owner does not hand over the house on time, the loss of the customer will be made by the credit institution as a guarantee for compensation. For customers who buy houses in the future and have this certificate, they can be assured that the project’s legal status has been closely screened by credit institutions.
Source: Lao Dong Newspaper
