What are the possible fears people have when trying to buy real estate properties?

[King Belieal]

People always express some fears when they are actively seeking for real estate properties to buy. What are the common risks that are associated with purchasing real estate properties that makes people to express so much fear trying to buy it?

 

[Augusta]

The significant financial commitment of a mortgage, including down payments, closing costs, and ongoing mortgage payments, can be daunting.

 

[eLdavis]

They fear if they are actually buying it from the owners, my parents had to go to court for more than ten years for a land case, cause the seller decided to sell the same land to us and two other persons.

 

[Stardom22]

In my country l have found so many people being duped by purchasing land properties for instance with fake ownership documents that leads to delays by court cases when wrangles come by.

 

[Springtime]

When buying a property, you have to make sure you can afford it or is eligible to apply for a mortgage loan. Other than that, you have to check the ownership of the property. Make sure it is not fake. Also, you have to take note of the conditions of the property. If you have to spend a lot to renovate it, you have to think twice.

 

[Kera]

They fear if they are actually buying it from the owners, my parents had to go to court for more than ten years for a land case, cause the seller decided to sell the same land to us and two other persons.

This is quite terrible. How were you guys able to fix that in the end? Did you people get ownership of the land or a refund?

 

[eLdavis]

This is quite terrible. How were you guys able to fix that in the end? Did you people get ownership of the land or a refund?

After selling to us, the seller also sold it to two other persons persons. The seller refused to refused, so the other buyers took my parents to court. The case was on for around 16 years if am not mistaken, my dad and one of the buyers dragging with us also died during this period. My mom had to continue the case. At the end of the day, the court said everyone should remain wherever side of the land they have built their something on. Fortunately we have already started building before the case came up, and the other one alive already built an house on one side of the land. So that's how the case ended for now.

 

[aninditasen]

People always express some fears when they are actively seeking for real estate properties to buy. What are the common risks that are associated with purchasing real estate properties that makes people to express so much fear trying to buy it?

The main fears in India is encroached lands which some businessmen do with the help of dishonest government officials.

 

[Augusta]

Fear of overpaying:
The lack of transparent pricing guides and the use of auctions can make buyers feel they are taking a "stab in the dark".

 

[oliver991]

Buyers are most afraid of legal risks: unclear titles, co-owner disputes, or vague sales contracts. All these can block a transaction or lead to losing the money invested. In local practice, I’ve seen that a simple partition action can resolve many of these issues before they ever reach court. I worked with Underwood Law Firm on a similar matter, and they managed to secure a settlement without a lengthy trial.

 

[Trush Jodie]

Another big risk that people have when buying real estate properties is the possibility of the particular location developing within a short while.

 

[neku]

In some cases, the buyers are paying in installments, and the seller cancels the deal after some time. The seller also does not refund the money paid despite following up.