BUY/RENT/SELL property online is safe?

The Internet has become a basic necessity of everyone's life, the trend of buying property online for the last few years. Today, there are number of portals where one can advertise, buy, sell or rent a property. Major real estate developers are taking steps to strengthen their online presence where shoppers can check prices and designs. In the current scenario where many reputed real estate businesses are trying to rent or sell their properties online, and with great offers. In that case the buyer gets a lot of benefits.

Advantages of buying / renting / selling property online:-

Booking amount is cheap: In offline scenario the booking amount is at least 5% of the value of the property and if you buy the property online then advance booking payment is very nominal 10,000 to 20,000 which is less than offline booking amount. Book a property online. If the buyer is sure to buy the property 100% then he will lose the booking amount.

Convenient for the buyer: Buying property online has become easy and convenient where the buyer can make a booking from the comfort of their home. Contacting several agents to obtain information about the property, which is tedious work, is also terminated.

Choosing a property online has the option of taking a visual tour: Many property portals or websites offer a visual tour to the potential buyer where you can actually see every nook and corner of the property / house. They also provide 24-hour customer service support for property or booking related questions. This helps in saving the customer's money, time and effort. Otherwise he would have to visit the property individually for each short query.

Research: The buyer can compare properties online, checking the correct property rates using a website or portal tool. The buyer can also read the project description and locality details, reviewing the builder which will help them finalize the property and make decisions.

Risk in buying / renting / selling property online:-

Some property developers provide fake information and pictures about the property and simply submit it to the online portal to drive traffic and silly people.

In that case verified property builders come into play. Make sure that you do the proper research and invest or buy property that is verified and certified.

5 Tips for First Time House buyers

Tip # 1 - Focus on interest rates

An increase in the interest rate can increase the payment on your mortgage, but it has a greater impact. The more you plan to borrow; the interest rate changes will affect your loan, payments and overall purchasing power. Interest rates can also affect the overall mood of the market. Changes in either direction can create a feeling of excitement in buyers and sellers alike.

Tip # 2 - You should be able to make more than just adown payment

At one time, house buyers could reduce payments coming out of pocket. All others were able to roll the related fees and closing costs into the mortgage. But these days, lenders want not only the down payment amount, but also their closing costs to be available in cash. And with some closing costs being 2.5% more of the loan amount, it can actually have an effect on how much home you can actually buy.

Tip # 3 - Before you start seriously looking for houses, become pre-qualified

Pre-qualifying a house loan is not a guarantee that you will be approved, but it is a good place. This is because getting pre-qualified will give you an idea of ​​how much house you can buy. Also, because your credit score, debt-to-income ratio, and down payment amount can have an impact on your interest rate, pre-qualifying will give you the information you need in the process so that you can improve your chances approve your loan at the best rate possible.

Tip # 4 - Do your due diligence when choosing an agent and / or lender

Buying a house requires a lot of research. However, your research should not be limited to just comparing places and properties. You also need to do your due diligence when shopping for a real estate agent as well as your lender. When you are buying your first house, trusting your agent and lender is paramount. Therefore, ask people you trust for referrals to realtors and lenders. Visit and talk with everyone before agreeing to use their services.

Tip # 5 - Be Ready to Move   

If you find a house you love, put in an offer and get ready to move because there are chances that things will move quickly. This is especially important if you are looking at houses priced in your budget or less. Buyers will jump on these properties because house prices are going up, they want to leave in a hurry, and so should you. Good luck!

 

SUGANTA REALTY SERVICES LLP