If all owners agree on the sale and entrust one to take care of the sale, it is important that this person has their written authority. Any agreement concluded with only one co-owner is invalid without this power of attorney and the others may not respect it. If the property is owned by a spouse, it is important that both of them sign the contract of sale.
Beware of the owner’s debts
The next step is to find out if the owner is not liable for the property. You can find this information from the extract from the real estate sunway damansara. For example, if the owner of Sunway Damansara property has borrowed money from a bank and is responsible for repaying it with this property, you will see a “lien” here. Such a record simply means that if the owner does not repay his debt, the bank can sell the property. And because this right is tied to the property, not the owner, it is important to ensure that all liens are deleted before you pay for the property (for example, by part of the purchase price going straight to the bank, which then agrees to delete the lien).
What may limit you
The extract from the real estate sunway damansara indicates whether the real estate is limited by the so-called easement or the contractual pre-emption right. Encumbrances in the form of service. For example, there is an agreement that neighbors can cross the land or that the owner or his relatives will continue to live in the house. If the owner does not remove this burden before the sale, you will have to respect it as well. Parents who donate an apartment to their children sometimes reserve a pre-emption right, for example. This is on the condition that if they ever want to sell it, they must first offer it back to their parents. If they don’t and they sell the apartment directly to you, you can lose it.
What you can and must not operate in the property
The so-called zoning plan and building approval decide how the property can be used. For example, in an area that is intended for family living, the authorities will not allow you to repair cars. And the fact that the house is approved for housing and you use it for business activities will complicate the preparation of the tax return. If you want to fundamentally change the current way of using the property, it is important to find out in advance what the authorities will allow. And if you are buying land, also check whether you can build on it at all and what type of real estate.
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