The buyer has only waste his time and resources in buying something that won’t belong to him
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As you're likely said in your comment that you as a wise investors should not even negotiate and such type of house because you are getting yourself into big troubleYou shouldn't even start any negotiation in that route if our have come to see that the house lacks the proper documentation to it. That is not the only property you can buy if you must buy one
it is very risky to buy a house that has incomplete documents because with this you are putting your money in Rick's because you might easily lost your money.It is very important for you to see all the documents or any property before trying to buy it because failure to do so may pose a lot of dangers to your own finance.
This is my daughter because I don't see any reason that will make someone not to be able to differentiate a complete land document and an incomplete one unless if the person is a novice in this kind of issue and very nervous like that should not be dealing online sale or purchase on his own but he or she will require the services of an agent that will help him in this process.First of all, I don't think anyone should or would want to buy a property that has incomplete document except if one doesn't have knowledge about such thing before and in that case he or she must definitely have a lawyer to cross check documents.
Incomplete documents of a landed property can be from fraudsters trying to sell another person's land. And one might lose the land if legal actions are taken
I know someone who was about to pay for a property when he learned that the property has other owners - it was an inheritance from the parents and the siblings are chasing their share. When there is a lawsuit it would take a long time and the property will be on hold by the court.The hazards with buying such property are that you will insure more financial loss if the matter ends up in a law suit. The best way to go about it in my country is to engage the services of a lawyer who will, in turn, conduct the necessary search at the relevant government ministry to ascertain if the land is encumbered or not.
That is a typical and common situation. That is why we have to be very careful when purchasing a new house and conduct the necessary search to be sure that the house is free from all encumbrance.I know someone who was about to pay for a property when he learned that the property has other owners - it was an inheritance from the parents and the siblings are chasing their share. When there is a lawsuit it would take a long time and the property will be on hold by the court.
There are many hazard involves in buying a house or a property that has incomplete document, there are some houses that doesn't have a plan and they build house on it and later sell it.In recent years, we have probably seen house and structures been brought but after some few years..they get collected by the government or there's a dispute between 3or more buyers of same property.
What are the real hazards that face a person buying such property.
It is very risky for an individual to get a property that does not have a complete documents with this you can be accused of theft and it might get you into trouble.Well.in such situations problems might arise later and when they do one might come up short on the documents which could be detrimental no doubt and could even lead to loss of property
Exactly so it's important to make sure that all the necessary documents are present before proceeding with any property so that just you said to not be mistaken for theftIt is very risky for an individual to get a property that does not have a complete documents with this you can be accused of theft and it might get you into trouble.
There are so many hazard attach in buying a property or house which do not have a complete document with his you can be scam and you can lose your money.Exactly so it's important to make sure that all the necessary documents are present before proceeding with any property so that just you said to not be mistaken for theft
That's the most important I think tge probability that it could be a scam and consequently leading to loss of funds because it would seem like a bad investmentThere are so many hazard attach in buying a property or house which do not have a complete document with his you can be scam and you can lose your money.