As indicated in the standard, lands and buildings that are used to obtain rental income, capital appreciation (generation of valuations) or both, are classified as investment properties.
Investment properties are real estate; this type of property corresponds to land or buildings intended exclusively for rental or generation of valuations.
Scammers around the world have increased their work to scam investors, especially those who have lost money. While it is natural to want to recover losses as quickly and completely as possible, investors are warned to be extremely skeptical about the offers to exchange worthless or bad performance shares for first class securities.
Typically worthless actions are just that – worthless. And whoever promises you that they have found a way which can help you to recover the loss on investment they are simply lying to you. You can’t recover bad investment.
Before giving your money, it is advisable to fully check every minor detail about the opportunity where you are going to invest also check the credibility of the person as well.
When buying a property as at the time of rental living any precaution is small to escape from unpleasant surprises. In both cases – in the first rather than in the second-, the economic outlay is important enough to take all the necessary precautions before “letting go” a penny.
” See Also: 7 Tips On How to Prepare Your House for Sale
Buying A Brand New House
In the case of the purchase and sale of new housing, an important part of the scams are produced when buying on model. A money that could not be recovered if the real estate development does not go well due to the bankruptcy of the developer of the apartments, the lack of insurance or guarantee that guarantees those amounts or because the person selling the homes does not own the land where supposedly they are going to be build up.
In this case, it is necessary to ensure the ownership of the site where it will be built and the loads that it has.
Before Signing You Have To Verify
Before signing any contract or delivering money, we must verify that the developer that is selling your Kissimmee home exists and owns the land.
Before signing any contract or giving money on account it is necessary to verify that the developer that is selling the apartment exists.It seems to be obvious, however it would not be the first time that it happens.
It is also necessary to verify that the person signing on behalf of the promoter is also authorized to do so. Surely you will ask yourself, how do I know that? In this case you must consult the Mercantile Registry.
Finally, once the construction of the house is completed, before signing the deed of sale, you must be verified that the work has been adjusted to the quality memory, that there is insurance covering damages or defects in the house and that there is a certificate of the end of the work.
Buying Second Hand House
In this case, the consumer must take precautions in the predatory phase, in the negotiation and in the agreement of wills, and it is necessary to avoid giving amounts on account without having security over the ownership of the home.
It may be the case that there are tenants with a rental contract in force or it is possible that you face an official housing with its limitations at the time of being sold. It is also very important to ensure that you do not have hidden charges on the home, such as mortgages or foreclosures that could be an unpleasant surprise for the new owner.
All this information can be consulted in the Property Registry, informative simple note, domain certificate and charges, etc.
Those who can do it are the buyer, the seller, the real estate agency or an administrative manager. Obviously, before delivering any quantity it is necessary to carry out these checkups.
Beware Of Rent
The Agents of the Real Estate Property also warns about the common scams that occur in the rental of housing, which are more frequent when carried out remotely or through the Internet.
It is very important that precautions are taken into consideration, such as checking the real existence of the property, that it is available for rent and not occupied and its real status.
Subsequently, it is very important that the consumer carry out the operation with all the necessary formalities, since there are cases of verbal contracts or subscribed to any paper that does not offer any legal security.
Beware of ads with prices well below the usual in the area that supposedly belong to a landlord who is in a hurry to rent, since he has had to rush abroad.They offer to send the keys and the contract through well-known courier companies, while they ask for the rent to be paid in. When they check in and receive the keys, they do not usually open the house they had rented.