Enlarge imagedeveloper individual construction
Most often, developers freeze construction due to lack of funding and technical problems.
With secondary housing there are no such global risks, but there are plenty of other, smaller problems.
For example, a well-known problem with many homes on the secondary market is property rights. The more owners an apartment has had, the more legal problems it may have. Therefore, realtors usually do not advise buying real estate that has been resold several times over short periods of time.
In addition, there is a stereotype that the "secondary market" mainly includes apartments in old buildings, without repairs and working utilities. In fact, this is not entirely true - there are good options east timor business email list on both the primary and secondary markets. In addition, secondary market houses are usually located in places with already developed infrastructure.
However, many people do have difficulties selling old apartments, and installment payments between individuals can partially solve this problem. Thus, it will be much easier for sellers to sell hard-to-sell real estate, and buyers will be able to purchase housing on more favorable terms.
In addition, in private transactions, buyers do not have to worry about income verification or bad credit history, and there is no need to involve co-borrowers and guarantors to ensure additional solvency.
All these indicators are not of great importance. The seller of the apartment, of course, can also require you to confirm your income or add a guarantor to the contract, but is unlikely to do this.
It is also worth noting that a mortgage is a targeted loan. That is, the bank issues money only for a specific purchase, in this case, an apartment. The absence of a bank gives the seller the opportunity to use the money for other purposes and spend it as they please, without reporting.
Fact of the day
The first plastic banknotes appeared in Australia, which was preceded by the emergence of a large number of counterfeit notes.
