04.03.2023
Buying real estate is a process that requires careful attention from the buyer in order to avoid unpleasant situations. Here are some basic information you need to know before starting the process.
There are three ways to acquire real estate: with the immediate transfer of a certificate of registration (certificate of ownership), through a contract of sale (PSA) or from a current buyer (not the owner) through the assignment of a contract of sale.
In the process of selecting a suitable object, the interested buyer should familiarize himself with all the rights and restrictions associated with this object. The more information a potential buyer has, the more correct decision he will be able to make.
You must request a certificate of registration of ownership. Having a title deed to real estate ensures that it is registered with the Land Registry of the Department of Lands and Surveys (DLS). For complete information, ask the seller for a recent registration certificate, which contains important information about the type and current condition of the property.
In the absence of registration, the interested buyer needs to further investigate and possibly seek the advice of a real estate expert.
Ask the seller to provide you with a property search report. Find all the features of the property you are interested in on the web portal of the Department of Lands and Surveys (DLS portal). The characteristics of all properties are available to the public free of charge. Also, on the DLS portal, you can find a video explaining how to look for them.
