What all legal documents i need to check and ask from builder before investing in property

Discussion in 'General Property Investment Discussion' started by Jennifer Martin, May 12, 2016.

  1. Jennifer Martin

    Jennifer Martin New Member

    I am planning to buy a flat, but before making investment I want to make sure that I am investing the legal property. Now a days there are various building which are illegal.

    So I want to make sure I am not investing in the wrong property. Please let me know what all things need to be checked for to make sure the investment is in legal property.
     
  2. nmb

    nmb Well-Known Member

    I strongly recommend taking legal advice from solicitors who would be able to do the various background checks and put in place a contract which will protect your interests. There may be an array of check lists on the Internet but a wrongly worded contract may give a developer a get out clause to your detriment.
     
  3. lookinginvest

    lookinginvest Member

    You definitely need to take professional legal advice because while you may save yourself a few pounds doing it yourself, at what cost? The key to successful investment is to maximise your strengths and bring in third parties to cover your weaknesses. Unless you have experience of legal issues why would you take the risk?
     
  4. Nicholas Wallwork

    Nicholas Wallwork Editor-in-Chief Staff Member Premium Member

    Ditto - get a lawyer asap and DO NOT buy anything anywhere without a good, reputable local lawyer who knows how to check the ownership (title deeds) properly...

    Where is the property you are interested in?
     
  5. nmb

    nmb Well-Known Member

    As the worldwide real estate market has grown many of the financial institutions of the world have offices in many of these markets. If you have a professional relationship with a particular financial company in your home country, they may have operations in overseas markets if you are looking abroad. This helps to create a trust factor based on the relationship you have built over the years.
     
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