Sure! Here’s the translation to American English:
In the complex process of acquiring a home, many buyers find themselves vulnerable to legal errors that can have serious financial consequences. Ana García, a lawyer specializing in real estate law, warns about four common mistakes that can ruin a home purchase.
García emphasizes the importance of verifying the property title. “It’s essential to ensure that the seller is the legitimate owner and that there are no liens or encumbrances on the property,” she notes. Many people take the seller’s word at face value and skip this crucial step, which can lead to legal disputes in the future.
Another frequent mistake is not reviewing the deposit contracts carefully. “Many buyers sign these contracts without fully understanding the terms and commitments they are undertaking,” the lawyer explains. This can result in a loss of money if they decide to cancel the purchase and the agreed-upon clauses are not met.
Financing can also be a pitfall to avoid. García warns about the need to thoroughly understand the mortgage terms. “Sometimes, buyers accept conditions that they don’t fully comprehend, which could lead to higher monthly payments or penalties in case of early cancellation,” she emphasizes.
Finally, the attorney suggests being mindful of local regulations and possible building permits. “It’s crucial to verify that all renovations and improvements made to the property have the necessary documentation,” she comments. Failing to do so could result in penalties or even the obligation to vacate the home.
García concludes by reminding us that legal advice during the home-buying process is not just advisable, but essential to avoid mistakes that could jeopardize the buyers’ future. Changing habits when acquiring a property can make the difference between a secure investment and a bitter disappointment.
via: MiMub in Spanish
