How to avoid being scammed when buying a house?

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Gloria Patricia Digiorgio

Date Published: 2021-12-16

It is important that before starting the procedures to buy a house you are well informed about the financing processes, to avoid possible scams. For this reason, we give you a series of recommendations:

1. Investigate the real estate agent's background to see if someone has filed a complaint. You can execute this action in the REALTORS® association in the area.

2. Review the current interest rates.

3. Verify the rates corresponding to mortgages at 30, 20 and 15 years.

4. Find out if the rate is fixed or adjustable.

5. Request information on terms and types of loans from various credit entities to compare. Also, ask for all additional charges in advance, since nothing should be added at the last minute. Finally, avoid signing incomplete documents.

6. Prevent sales tactics from pressing you. For example: If they tell you that they are the only ones that can offer you a certain interest rate, that you must act quickly or that it is the last offer in the market... pay attention.

This article is made for informative and divulgative purposes. For this reason, it is important that before making any decision, visit or contact a certified specialist in the field, since the opinion of the expert is the one that should be considered.
 

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The payment method to use for the purchase of a property will depend on the amount of money you have available to invest, as well as your credit reputation. The budget you have will help you choose the area, the type of land and the dimensions of your new property.

Your future taxes and liabilities may be affected if you buy your new property with a company or buy under your own name. A Real Estate Agent can help you select the best option. It is common to observe that the use of an LLC (limited liability company) is the most frequent due to:

Among the possibilities for buying properties there are mainly the following: a) Properties that are not new, b) Properties that are brand new or less than 6 months after completion of construction, c) Properties in pre-construction or new developments.

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