Tips on how to buy a house with bad credit or late payments

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Many people start searching for the house of their dreams during these dates. One of the main factors is the slight decrease in the price of housing that the sector usually experiences after the summer, after the usual stop in August. We must also take into account the probable new stock of homes for sale, especially in coastal areas such as Altea, where many owners decide to put the house for sale after spending the summer holidays. If you decide to start your home search during these months, you should pay special attention on how to buy a house with bad credit before deciding to buy the house of your dreams. It will avoid unpleasant surprises.

How to buy a house with bad credit

surface of the house

The surface of the house

The surface of the house is one of the main requirements that is taken into account to buy a house. Determine, among many other things, the number of bedrooms in the house. It is necessary to pay attention to the fact that the published information of the surface of the house corresponds to the reality, and that it is not distorted by putting the m2 of the communal spaces, terraces, balconies or storage rooms, or that the constructed surface and the useful surface are confused. The same happens with the surface of the plot, where we must check that it corresponds to the reality of the cadastral data.

The price of the house will vary considerably depending on the surface of the house. In Altea, for example, the price per square meter is approximately $2,200/m2. This price will logically be affected by other factors such as additional constructions (swimming pool, storage room, garage, etc.), quality of materials, elements such as air conditioning, heating or furniture, and especially the area where the house is located.

house documents

Documents and paperwork

The sale of a house is an operation of a certain size and complexity that requires a series of paperwork and paperwork. We should not let these documents pass by if we do not want to have last minute scares, in addition to sanctions, charges or fines. The best option is to go to a real estate agent who correctly informs us of all the documentation that we must request from the seller.

Writing of the house, the main document where the current owner of the house. This document is formalized in the purchase and is registered in the Property Registry of the place where the house is located.

A simple note, that we can obtain in the Land Registry, and that proves the name of the owner, in addition to other information about the house as a description of the property, if it is free of charges, mortgages, urban problems, or possible legal uses of the property.

Receipt of the last IBI (Tax on Real Property), the tax that taxes the owners of the property, and that must be paid by the owner of the property on January 1. The community of owners, if it is the case, request a certificate of being free of payment in the community of owners.

Other documents, such as a Building Technical Inspection Certificate (ITE), an Energy Efficiency Certificate, the Livability Certificate or the Statutes of the community of owners.

Housing plans

Housing plans

Real estate consultant in AlteaIt is always advisable to ask the seller of the house for a plan of the house. This plan, which should be signed by the construction company or architect, should reflect the reality of the home, and be bound with the useful surfaces of each room. In this way, we can plan and distribute the rooms before entering to live.

This plan is especially necessary if you are going to buy a new house on a plan, to be able to claim in case of default by the construction company.

Possibilities of changes

Possibilities of changes in the distribution of housing

If we are interested in a house with the objective of making changes in its distribution, it is important to advise adequately with a technician on the possibilities of these reforms. In many cases, facilities such as drains, smoke outlets or the structure of the house can not be modified. We can not make the distribution change that we had thought of.

We must also inform us if we can close the terrace or the balcony, make a barbecue or install a pool, before buying the house, in case this reform is more delicate than it seems.

Planning and urban legality

Planning and urban legality

We must inform you about the urban legality of the housing in which we are interested. It must be ensured that the property is not affected by an urban ordinance law, or that it has any infraction or fine, guaranteeing the full legality of the dwelling.

To do this, we must request all the documentation described above, especially the simple note, the certificate of habitability, and inform us at the City Hall where the house is located.

finishing of house

Materials and finishing

Before deciding on a house, we must take into account the description of the materials and finishes of the house. The price of the house will not be the same if it has a parquet floor, windows with breakage of thermal bridge, materials, and facilities of top quality brands or finishes of higher quality.

In the same way, we must pay attention to the plumbing, heating and electricity installations, as well as the year of construction of the house and its latest reform. The price differences are remarkable depending on the quality of them.

House price

House price

Undoubtedly, the price of housing is the main factor that determines the purchase operation. This price will come mainly subject to the area where the property is located, in addition to the type of property, the surface of the house, age or quality of the materials.

The budget we have will be determined by the savings themselves, the possibility of selling another property or the ease of access to financing. Without an adequate and realistic appraisal of the home that a real estate expert can make us, we should not launch to buy the house, since it may be outside the market price.

Post Author: Robi

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