There are various tenors offered by banks, ranging from 5 to 30 years. Because the financial condition of each person is different, the bank offers a variety of these tenor options in order to reach various classes of prospective debtors. Do not force yourself to take a short tenor in pursuit of lower interest costs. If you choose the tenor according to ability, your financial flow will leave enough funds to meet your needs starting from daily needs, protection, and other investments. Apart from that, check out my conveyancing solicitors if you require the best law experts to help you buy properties safely.
Check Land Purchase Letter
You as a consumer have the right to know the developer land certificate. If not, then you can question the certificate to the notary who records the land deed.
This check needs to be done to provide understanding to consumers how the status of the land to be developed. It would be better if the status is not good for one plot, but for all plots in the housing.
Prepare Additional Fees
Fees for Banks – If you apply for a mortgage, the bank will check and complete the files, which is certainly not free. The first cost that you need to spend is the cost of surveying property assets (appraisal). Checking land certificates and property prices are adjusted to the prevailing market prices.
Finally, you have to spend a little more on insurance, which consists of Life Insurance (amounting to 1 – 2% of total loans) and Fire Insurance (1% of total loans).
Notary Fees – You, as a property buyer, will always be in contact with the notary to arrange various types of deeds and certificates of sale and purchase. Keep in mind that the cost of notary services is entirely borne by you as a prospective buyer. The costs that you need to spend are detailed according to your needs. For example, you use the services of a notary to carry out inspection of certificates, credit agreements, the cost of renaming and the Deed of Sale, and finally the Deed of Assignment of Rights.
Tax Fees – Tax is a mandatory fee that must be paid when making property sale and purchase transactions, whether through a mortgage or cash (cash).