Title Deed transactions during the purchase of real estate
What do you need to pay attention to when buying a house? The steps you need to follow in the deed when buying a home are extremely important to the smooth flow of your buying and selling transactions. If you have any questions about the house you intend to buy, you should not hesitate to ask questions. Therefore, do not neglect to look up the home’s earthquake policy in the title deed, ask if there are any tax debts and check the occupancy permit. It will save you time if you have already agreed with the seller how to pay the fee for the title deed. Also, make sure that when you record the house on the title deed, you state the actual price you paid. This way you can minimize your risk of having a problem in the future.
What documents are needed at the Land Registry when I buy a house? Different documents are required from the buyer and seller to buy a title deed.
The documents required from the seller are:
Original or photocopy of the deed
Original and photocopy of the identity card
A document from the municipality stating that there are no tax debts
Power of attorney, if the transactions are carried out by a real estate agent
The documents requested by the buyer are:
Original and photocopy of the identity card
Power of attorney, if the real estate agent is interested in real estate transactions
How to pay when buying a house? Payment transactions for real estate purchases and sales are handled in a variety of ways. Payment by hand is one of the least secure methods of payment. For this reason, it is not recommended unless there is an absolute relationship of trust between the buyer and seller. Another method would be for the buyer to send the house money to the seller's account by money order, EFT or wire transfer. During this process, the buyer must include the title deed address information in the payment statement and write that the payment is the real estate fee. The title deed clearing system and the blocked check method are also commonly used in real estate exchanges. In the blocked check method, the buyer requests a blocked check from a bank of his choice, and the seller releases the check and transfers it to his account after notarization.
Things you should do before you go into action: Before you buy or sell a house, you should want to see the deed. If you are not buying a home from a reliable real estate company, you should ask to see the deed. Before you proceed with the buying and selling transactions, you should make sure that the house has no old debts. To do this, go to the institution that owns the house and ask for a certificate that the house has no debts, including tax debts. If you want to buy a new house, you will have to go to the land registry to take possession of the house. You should not neglect to make an appointment before going to the deed. Because the intensity experienced may cause you to wait for a long time and interrupt your work.
To briefly list what you need to do before you go to the notary appointment;
You need to decide who will pay the property tax and land registration fee.
You should not forget the deed, the file, the payment to the real estate agent and the insurance costs.
If you want to take a loan, you should find out in advance about the suitable bank and interest rates and make an appropriate application.
For the loan application, you need to submit the copy of the property deed and other requested documents to the bank in advance.
If you want to avail a bank loan, you should get the mortgage documents and mortgage servicer information from the bank.
Do not forget to clarify your payment schedule and check bank account transfer limits.
You will need to purchase mandatory earthquake insurance.
You should check with the municipality where the purchased house is located for the current value and pay the property tax.
You can make the payment of the fees according to the deadline information sent to you by message.
If you take a loan, you should inform the mortgage administrator of the bank about the appointment information.
What to do when the date of notarization has arrived:
When your appointment is coming up, you should have your identification documents ready.
If you are illiterate, you must come with two witnesses to whom you are not related.
You must give the receipt of the expenses you paid to the official in charge of the transactions.
When the time comes to sign, the sale documents must be signed by the buyer and the seller one after the other.
If you are taking out a loan, you must sign the documents to open the loan by going to the bank.
What you need to do after the transactions are completed:
You need to go to the necessary institutions to complete the bill transfer process.
You need to go to the municipality where the property is located and file a property tax return.
You need to go to the institution in charge of re-registering your residence and renew your address.