Helpful general real estate tips
for listing a property for sale
Appraising a property before putting it on the market is probably the
most important step before signing a listing agreement. The listing
agent must be aware of everything surrounding the property, not only
the physical but also the legal aspect. Make sure that the location
of the property is not detrimental. A house that was built years
ago might be surrounded by new noisy or polluting businesses, as it is
often the case.
Check with the city about the zoning, the density, the access road,
and the distance for the electricity, the city water and sewer when available. This
is a very important factor that must be disclosed to a potential buyer,
in order to help him make a sound decision. We must also remember
that the agent represents most of the times the buyer and the seller
at the same time. This should always be disclosed.
I have seen cases where we obtained the change of use and the master
plan approval from the city, and found out that most of the property
was under a CNA restricted use. The government was not even aware
of it. The agent should first check with CNA and see if the
property is not affected by any restricted zoning.
A thorough look at the construction is a must, along with the floor
plan, the living space, the orientation and the door and window openings. This
could affect the value of a house tremendously. Find out if there
are any building problems known by the seller.
You must go to the public registry in San Jose and find out if there
are any liens on the property. A certificate of no liens is around
$300 pesos, and it’s probably your best preventive medicine to
avoid major head aches down the road. A title search is also mandatory,
and I never sell a property without recommending one to my clients. If
the land is in the middle of nowhere, I would recommend a survey through
a reputable engineer, and I would make sure that all the markers are
in place. This will avoid any future litigation with the adjacent
land owners.
Find out if the construction has been manifested properly. You
don’t want to see the Social Security department knocking on your
client’s door years later, trying to collect their fees and hefty
penalties from the previous owner. This would become your responsibility
once you own the property.
If title is vested under a corporation, get a copy first of the corporate
minutes, and find out who has the power to sign documents. Make
sure that the corporation is duly registered with the public registry. Get
a copy of the Escritura, and check also that it has the proper registered
seal at the end.
Real estate Agents must investigate the above very seriously. If
they are not doing all of the above, they are not doing their job properly,
and the broker and or the company should refuse the listing. |
