This article continues the following post: Things Buyers Forget to Ask Before Making an Offer for a Property.
How good is the neighborhood? What are the surrounding areas next to the property?
Everyone’s idea of a good neighborhood varies. However, many consider the safety of their family as very important. Safety comes in different forms — safety from theft, fire, flood, noise, harmful chemicals and pollution are foremost examples. Is your property backing a busy road, a cemetery, a noisy neighbor, slums, future building project, factory, etc.? Are the roads kept in good shape or full of potholes? Are the roads congested with parked vehicles? Are the streets painted with clear traffic signs? Is this neighborhood’s location easily accessible from the places you frequent the most?
Am I dealing with the owner? If not, Is the person signing the contract authorized by its owner(s)?
It is quite normal to deal with a representative when the house is just being shown. However, it is vital to know who will be present at the signing of contracts and who will receive payment. Ideally you should be wary of properties where only a representative is going to sign and receive payment even if they have a Special Power of Attorney. Ask for the reason for the absence of owners and arrange to communicate with real owners in some form of another and find out ways to check for identities. Do not skip or rush this part and be ready to back out if you notice that there is something that doesn’t add up.
Are any of the owner(s) dead, or not in a physical capacity to legally sell the property?
All owners should be alive and in normal physical capacity to sign for the sale and never forget that this is non-negotiable. If some are no longer alive then this property still needs to undergo Settlement of Estate and this process take more time to complete and there are estate taxes to be paid.
This article first appeared at http://easton.ph, a website owned by Easton Real Estate, a professional real estate services company based in Alabang, Muntinlupa. For real estate inquiries, appraisal, title processing and documentation in Metro Manila and vicinity, please contact us at [email protected] or +63 908 451 8698 .