Why you should buy a house or land from a company and not a broker

 

Why you should buy a house or land from a company and not a broker

Most probably you have met land and house brokers in your mission to invest in real estate. Some entice you with nice deals and if you are not careful, you may end up losing all your savings and they with walk away scot free.

 What’s the difference between a broker and a company?

A broker is a person who buys and sells goods or assets on behalf of others without having an ownership document to the property. A company is a registered entity that engages in the business of selling goods and services with legal ownership of the documents. 

Why buy land or a house directly from a company and not a broker?

1.      The probability that the broker conducts an official search to the property they are selling to you is very low unlike a company that is keen on conducting due diligence to ensure the properties sold to clients has title deeds. This means that companies involve a couple of lawyers in their transactions to legally capture every detail of the property on sale.

• Brokers tend to hurry the process and will not give you enough time for consultation, actually you do interact or know other fellow investors. They will be hesitant in allowing you to visit the site and if you insist to see the property, they may end up showing you a property that does not belong to them. Purchasing from a company gives you the opportunity to interact with other investors, ask questions to the company related to the property and also view the property for sale before you make the actual purchase.
• Lack of professionalism, when dealing with a broker they rarely allow you to sign documents such as offer letters, sale agreements, and title transfer. This is because these are legally binding documents that depict transparency and accountability for both sides. Since their processes are largely fraudulent they may decline any legal document that may force them to deliver on expectations of both parties involved in a transaction unlike a company that allows you to sign all legal documents for land and home ownership.
• Hidden charges that are not easily disclosed- the price tag for the property may have other hidden costs such as title deed transfer or any hidden cost that are not easily disclosed. When dealing with a company the chances of experiencing hidden costs are rare. You make payment and wait for the processing of your title deed.

In conclusion, as you consider investing in land or house, think of investing with a company that can provide you with a portfolio of the properties they have offered in the past and they have a history of delivering title deeds to their clients.