Edition #308 September 2018
7 Things to Check Before Buying a House
Some developers collect money from homebuyers to acquire a property. Buyers are shown the property, they seal a deal but ownership has not been changed.
This is a common practice among developers of off-plan houses who avoid bank loans to keep the costs low.
These details are not disclosed to homebuyers and if an investor fails to acquire the property, the buyers are caught up in the mess. A clause can be put in the contract to protect the buyer in case of any eventuality. Read Full Story