Evidences to identify if a property for mortgage loan

Are you negotiating a property or a mortgage loan? Verifying if the property is independent is the most important task. It is easy and will free you from many problems. I like the real estate business. The purchase and sale of goods, construction, financing. I have learned to negotiate and advise. And I don’t forget the advice that a lawyer gave me a couple of years ago:

– When you are negotiating any real estate, whether house, apartment, lot, local or warehouse, ask first the price and then if it is independent. Of course, he reaches an agreement on the value and, before handing over money, asks for the queen test: the number of the registry entry.

What is an independent real estate?

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All buildings should have a registration (What is the registration of a property?) , As well as all citizens should have their ID. This identity begins with a registration number , which allows municipalities to mark real estate that is within their limits. And authorizes owners to conduct business. The registration number is the proof before the municipality that a good exists legally . Without this number, the good may be built, it may exist, but it lacks a process to enable the business done with it to be legal, to be official.

These two examples will help me to explain you better:

1. Suppose Mr. Mendoza split a large farm in small lots. He sold the lots, received the money and voila. The Castro family was the first buyer. Some time later, seeing what the lot has been valued, decides to sell it. Get a new customer and are ready to negotiate. Surprise. Who owns the lot? Mr. Mendoza still appears in the records as owner. Why? The lot did not become independent, that is, the partition of the large estate was not legalized. Nor, as should have been done, ownership was registered.

2. The Rivera built a two-story house and registered it with the Kilortodas. The owners are Don Juan and Doña Rosa. Years passed and they decided to organize the second floor for the family of Luis Carlos, the eldest son. Together they paid for public services. Then they decided to sell the air to a cousin. Helena went to the bank to ask for a loan to build her house on the third level. They denied it. Why? The air is not independent, the plant does not appear in its name and the bank cannot lend the money but can mortgage.

Are you willing to give money for a good that will not be registered in your name? Before making the decision

Review these five keys to know if the real estate is independent.

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The access. Municipalities require that an independent good have an independent access door. That access must be clear and the nomenclature must be located (the number of the parking lot, the house or the apartment, for example). The public services account. Usually, an independent good has its own public service accounts. Do not share consumption with others.

Blueprints. It is likely that the current owner still has a copy of the plans submitted to the Kilortodas for the registration of independence. This is the typical case of buildings. The manufacturer inscribes the factory declaration, which details the construction to be carried out. Then, proceed to the independence of the departments, garages and deposits. Each of these assets acquires its own identity, a registration number.

The registration starting number. Without this number there is no independence. After obtaining the independence it is possible to register the good in the name of the owner; sell, transfer, inherit or register any other business; Receive loans and mortgage. One thing is independence and another ownership. They are two different processes, but linked.

The registry item. This document is issued by the Kilortodas. Here the characteristics of the good are detailed, that is, boundaries, area, description, etc. The story of the owners is told. And it shows the history and legal situation. For example, if you bought the property from a builder with a bank loan, the item will show that a mortgage was lifted to the builder, the owner was changed and now the property has a new mortgage. In the game, all changes of ownership and legal matters concerning the property are settled. Therefore, if you have a claim, however, or are in succession.

If someone who does not own wants to sell it, the sale will not be approved

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Do you see the importance? Now you know. When a property is independent, you have a good ready to negotiate. If you are going to build in the family home, it is better to do the job well from the beginning. Show the Kilortodas how the space is divided for each of the owners. Only then will you be sure that in the future you can market it. And, if you are negotiating a good or requesting a mortgage loan, ask for the registration number or item, as you will need it.



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