The main objective of property Valuation is to ensure that the buyer gets the full title of the land along with the full and undisputed right to use the land. When the property is being purchased the onus lies on the buyer that the above points are taken care of. While this might look very easy on paper when it comes to the actual implementation on the ground there is no doubt that it is quite difficult and complicated. Hence, as a customer you should not only take the help of professionals to get the job done but also be aware of the ground rules that need to be followed. Here are a few important points that should be borne in mind so that the various problems that one encounters along the way can easily be solved.
There are basically three stage of property Valuation or property settlement. They are referred to as before signing of the contract, before completion of the contract and after completion of the contract. While most of the buyers and sellers would be aware of the various formalities to be gone through before the contract, the problem usually arises before and after completion of the contract. This is what is being discussed over the next few paragraphs.
The problems in property ownership transfers occur because of lack of understanding of the two processes after the decision to buy or sell a property has been taken. There is no point getting into disputes once the contract for sale or purchase has been signed. Hence, it would be better to get into the whole agreement only after everything is clear. Towards this objective there is no doubt that the role of property lawyers and attorneys is very important. They will help you to identify if there are any legal problems or shortcomings in the pure and clean title of the property that you are planning to buy.
The next important area of dispute could be with regard to the value of the property. Hence, before signing on the dotted line it would not be a bad idea to take the help of property valuers or appraisers. They will help the buyers in particular to have a correct idea about the fair market value of the property. This will satisfy both the stakeholders and remove any reason for ambiguity at a later point in time. Lastly, the buyers and sellers should ensure that only the correct legal and property agreements are drawn up. To ensure this identifying a good property document specialist is very important.
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