If you are planning to make smart investments in the real estate sector in Bangladesh, then it is worth knowing that buying property here is not an easy task. To make it simpler, Bproperty provides tips to avoid making any wrong steps.
Professionals can be a safeguard
One can never do without legal advice or suggestions to buy apartments or another property type. Especially if you lack the proper proficiency regarding legal documents in English or Bangla. Consulting someone with experience in housing sectors can do wonders. Being aware of legal issues and procedures can help you prepare for any obstacles up ahead. You can always hire a realtor or study legal matters to have a better understanding of yourself.
Look for high-profile developers
Second best is always your best option. Because they are the closest to the top and will work harder to get there than the best who are already at the top. As a rule of thumb, always remember that clients have the right to know what they are buying. Hence, always inspect as much as you want. Do not be discouraged to ask as many questions as you please. High-profile developers are more likely to give you less information unless you ask them. Be patient when negotiating. Remember, the more you pay, the more you lose control. Don’t hesitate to hold back.
Know your rights
The deed of agreement is perhaps the only complex document that can protect your rights and money. Even if you do not fully understand the document, you can take your time and consult someone with proper knowledge and experience.
There is also an easy solution. Buying a property that is ready for a handover of ownership with instant registration opportunity can skip long procedures and the possibility of getting tangled up in a giant hassle.
Points to remember
In Bangladesh, it is entirely possible for the handover date to change many times. Sometimes it can be a year’s delay. It is highly important you assess the situation well to your advantage and the bank interest that you will be needed to pay until the taking over of the property in question.