selling my house with some flaws-do I hide the flaws?
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ario
Apprentice
Joined: 29 Dec 2003
Posts: 23
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 Posted: 04/20/08 - 05:26 Post subject: |
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| I am selling my house with some flaws. Should I hide the flaws? I am planning to invest some money in properties. I was thinking about buying some off plan properties, because friends told me that they are the most payable. However, I am not so sure about this. I do not have much experience in thus so I do not know all the problems that could develop. What are the risks of buying off plan? |
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gilberto
Apprentice
Joined: 19 Aug 2007
Posts: 4
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| Posted: 05/20/08 - 01:27 Post subject: |
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| You could hide the flaws if it is a minor one. That way you could state at court that you didn't noticed it. However, if it were the major flaws then I wouldn't advise you to hide them, because the penalties could be greater then your profit. Off-plan investment is the purchase of a property, which has not yet been built. That property considers being the plans. As the more traditional markets have continued to expand, property investors have been more prepared to bring up the risk, in return for a potential larger profit. There are many risks in buying off plan. First, prices could fall as well as rise. If rates rise or rents fall during the build you will pay the much higher price than you should. Even if prices do rise over the build period, there is no any guarantee that it will be easy to sell on the property at completion. If there are many investors in the same area selling it can be difficult. Whatever would be your objectives, the whole business is something of a gamble. Therefore, careful research is essential to help you to minimize the risks. |
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