DON’T DO THIS: MISTAKES WHEN BUYING REAL ESTATE

The Head of Real Estate and Construction Practice at the “DE-JURE” law firm, attorney, PhD in Law Ivan Topor, believes that it is impossible to do without a lawyer’s consultation when purchasing real estate.

So today, let’s discuss common mistakes when buying housing:

• lack of a comprehensive legal opinion from a lawyer — may lead to the unexpected discovery of hidden litigation, enforcement proceedings, or obligations that put the transaction at risk;
• “grey” pricing and cash payments — a lower price may seem beneficial to the buyer in the short term, but in the long run it can cause issues with compensation and lack of proof of payment in court;
• unauthorized renovations and illegal alterations — the risk that the buyer will have to restore the property to its original condition or obtain approvals retroactively to legalize the changes;
• ignoring the rights of children, tenants, and unregistered persons — the risk of lawsuits from co-owners and the need to defend one’s rights in court.

Consult a lawyer to get assistance tailored specifically to your situation.