Project land It is always one of the most sought after categories by investors. Because of good liquidity and high profitability quickly. And to avoid unnecessary risks when buying project land for the first time, F0 investors should master the important notes below.
Table of Contents
5 notes for investors buying project land for the first time
Read carefully the information of the investor
Currently, many project land plots are sold at relatively cheap prices, ranging from a few million to several tens of millions/m2 depending on the area. According to experts, the selling price of the land you intend to buy is much lower than the land price of neighboring projects. At this point, you should consider the feasibility and capacity to complete the project. You should not only see cheap land but rush to buy; because it is possible to encounter projects that are “dead” or non-existent.
To grasp the feasibility of the project land, you should choose projects of reputable investors. Must have all the factors such as a good biography, strong financial capacity shown in the latest financial statement, reputation from the media, surveys of living people on satisfaction.
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Learn legal records, transactions with clear documents
In order for the project land transaction to take place transparently, you need to proactively ask the investor or product distribution platforms to submit the necessary documents to prove the location, value of the land lot, the owner’s capacity. investment, brokerage authorization letter for contract signing, planning project, future construction design, legal procedures, etc.
In addition, you also need to consider whether the selected plot of land project has had land allocation decisions from the authorities and has been approved for detailed planning. The investor must build the right model of the house that has been appraised for design and in accordance with the spatial orientation, architecture and landscape. This means that the investor is not allowed to subdivide plots for sale; but must build a complete house and then sell it.
Avoid buying land for projects to share books
If you buy land together, then when there is a dispute later, you will have a lot of trouble. For example, facing the problem of not being able to split the book due to insufficient subdivided area; Some people agree and some don’t. In particular, if you buy land together, you may not be able to determine the location of the land plots.
Look carefully at the project’s land payment progress
With cheap land plots or buying in installments, it has to go through many complicated stages. Therefore, it is necessary to seek the advice of an experienced lawyer or real estate broker. When signing a contract, must carefully consider relevant documents, papers and legal documents of the project land. That project must be called “clean land”, because the problem of land clearance is very difficult.
If the buyer is 15 days past due and does not pay in full as the contract; usually will be fined and the investor has full discretion. Some projects are linked with banks to support loans, but usually only support buyers with stable and fairly high income. Therefore, it is important to clearly determine how much you can borrow before investing.
Financial considerations to choose the right project land
The last but not least important note is that when buying the project land for the first time, you must consider your financial ability. This will make it easier for you to choose the right piece of land with your financial ability. At the same time, it also limits the risk of becoming a “debtor” in the future.
Good advice for you is to use the money available to buy land. Absolutely limit borrowing from the bank an excessive amount, exceeding 50% of the value of the land plot. Besides, if you want to invest with friends or relatives; It is best to make a clear commitment from the beginning on the responsibilities and obligations of both parties.
Should you buy land for the project at this time?
The project’s land plot has the strongest advantage that it is cheap and has high profitability in the future if investors know the right time. Should not buy land plot according to the trend of the crowd without careful research; leading to being buried capital, unable to sell land profitably, even having disputes or losses.
The investment and purchase of project land always has an irresistible attraction for many investors, whether new or old. But this field also contains a lot of risks if the buyer lacks practical experience. With the question “Should I buy the project land?” it still depends on many factors so that we can consider the pros – cons, potentials and limitations to be able to make an accurate decision.
If you do not have much in-depth experience and are willing to take risks, accompanying capital support for project development enterprises will be a right decision at this time.
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