Buying a property is not an easy task. Apart from financial planning, you need to take care of plenty of other things! There are plenty of options to explore before finally finding the property that caters to all your requirements. Furthermore, you have to check all the legal aspects of the property to ensure you do not sign up for a messy deal that only leads to future disappointments.
If you are a first-time investor in the real estate market, it is crucial to educate yourself about the whole process. Furthermore, it is important to seek assistance from estate agents and conveyancing solicitors in Southend on Sea to find the right property and ensure the deal will be legit. Apart from this, you require awareness of potential legal complications that you may end up in so that you can take the necessary steps at the right time to save yourself from these troubles. Let us dig deeper and discuss the potential legal complication in detail to make a fair deal.
Legal Complications Involved In Buying A Property
- The most common issue people usually face is related to ownership rights. Sometimes people try to sell properties even when they do not own the property by all means. It gets revealed at a later stage when you have already paid the advance amount. You now get stuck between buying the property or forgetting about the token you have already paid.
- Another legal complication a buyer faces is the property not having a sanctioned map. The builder may try to sell you a property whose map doesn’t have the approval of the local authorities. It might lead to the case of encroachment, and the concerned teams can come and notify you about the demolition at any point!
- You will be in a legal mess if you have not got the urban classification of the land done before signing up for the buying contract. The builders sometimes hide these details from the buyer as their sole purpose is to build a home and sell it at higher prices.
- Not having permission for the water or electric fittings is an issue that most buyers face. The challenge here is that you only get to know about it after you have signed the deal. It is only the result of the sheer ignorance of the buyer, but if you make wise decisions, you can save yourself from it.
The only way to save yourself from these legalities is to hire the conveyancing solicitors in Southend on Sea and let them check every little detail before signing a contract. These experts understand the property market well and would ask the seller to present all the necessary documents. Only after checking all these papers the conveyancing solicitor will give you a green signal to buy the property.