The market for buying real estate, whether to live in it or for trade, is a very profitable market due to the permanent rise in real estate prices and the gain that accrues to the property owner, as he always buys this property at a lower price and sells it with a profit that satisfies him,, the temptation of a property owned by a number of heirs:
You may imagine that a property owned by a number of heirs is not smart thinking, and you may wonder why someone buys a property within the heirs and begins to enter into disputes that may be indispensable if he purchased the property from only one person, but it should be noted that because of these questions and disputes, this property Its price is lower compared to the real estate around it, even if it has competitive specifications in terms of location, view, etc. Here lies the profit, as after you buy it, the problem stops here that the property is among a number of heirs and turns into a property owned by only one person, who owns it for an amount less than its normal price Here, the sale is many times that amount, and herein lies the gain.
After knowing the importance of the property that belongs to a number of heirs in terms of value and return, you must know what are the steps that make you buy it and stay away from any problems that you may face later:
What are the steps that must be checked before buying a property owned by a number of heirs?
- Full access to the real estate papers and its inheritance declaration, which contains all individuals and their ages.
- In the event that there is any minor individual among the heirs here, a minutes of discussion is written in the prosecution and all the funds of the deceased person are counted from real estate, money in banks or even a pension, in order to determine the exact share of this minor individual from the heirs of the deceased.
- In the absence of any minor, the real estate contracts registered in the real estate registry must be viewed.
- After agreeing on the price and purchase, a preliminary contract and an official power of attorney must be drawn up from all the heirs to sell, in order to be able to register this contract in the real estate registry.
- Be careful in the absence of any heir or his power of attorney for sale, this property should not be purchased.
- This property should not be purchased unless the heirs have a preliminary contract only because the heirs are proven ownership through a court case that may last for a long time.
After making sure of all the previous steps and consulting your lawyer and registering the contract in the real estate registry here, you can feel safe and start thinking about selling this property with ease, especially after the availability of all the papers related to it and the heirs and your ownership contract so that the buyer feels safe as well.
You can also definitely invest in this property and sell it for a much higher amount after waiting for it for some time and making sure that any disputes that may arise because of this property will end.