As a kid, my family and I would often move county to county since he had a job that made him transfer a lot. And honestly, it wasn’t the best thing, since we didn’t have a house to call our own. These transfers often resulted in me losing the actual meaning of home and even forgetting memories. When I grew, I started to realize that one should always have a roof on their head; it’s a basic necessity. Long story short, when it was time to settle down and finally purchase our humble abode, I thought it would be an easy process as not much is required.
Or so I thought, what I hadn’t realized is how much efforts go in building your home, the rules, and regulation and on top of those, laws and guideline that needs to be followed. Looking at this made me realize that having a home is an easy dream but making those dreams into reality is a whole other task. Hence, in this article, we will understand the concepts of Real Estate and its laws.
Brief
The term νομιμοποίηση αυθαιρέτωνin a layman’s term is an immovable property on land, has built (s) on it, and has natural resources like minerals, crops, water, etc. So, it is nothing else but buying and selling an establishment. These establishments are sold by none other than ‘Real Estate Agents’, who act as the middle man.
Essentials to look out for before real estate investing – Certain features to look out for are:
- Neighborhood
While house hunting, always makes sure you understand the neighborhood, what types of tenants live there, and even research about the various nearby amenities.
- Property Taxes
This is a variable feature as it depends from region to region. One should know that before investing in a property, how much money would they lose in taxes. If one invests in a posh neighborhood, the land value will be high and hence the taxes. Buy property within the budget, don’t go overboard.
- Crime
This is by far one of the important features to look at. No one wants to live in a bloodied neighborhood where there is constant fear living in people’s minds. If you are not sure and find anything suspicious, then visit the police station and research the crime statistics.
Types of the Real-estate
Like apartments, duplex, multi-story buildings, and even terrace flats.
What is Arbitrary Legitimacy?
In the world of landholdings, one can describe it as a course of action that is not backed by valid reason or judgment but backed by personal will without any regard for rules. This is a tactic that is used to lure potential target customers, but recently is having high expectations but with low responses. Despite providing discounts at a generous amount, the global economic recession doesn’t allow people to declare and even pay for their establishments.
Legalization Process and Rules
This is an important step after one has gone through the features and has decided on what type of establishment they are interested in.
- Real estate legalization
It is a timeless issue. Various laws are followed by various countries but with the same motive behind them.
- Issuance of certificate
Arbitrary settlement is done after declaring the arbitrary uses. Any construction manager who is working on the site should take note of the arbitrary construction and violations that have taken place on the property.
Conclusion
This is a business with high risk but even higher rewards, be sure to take the right decision and follow every protocol as mentioned.
