Compass Real Estate > Cambodia Investment Guides > Notice for buying housing in Cambodia: What should we do when we want to purchase second-hand house?

Notice for buying housing in Cambodia: What should we do when we want to purchase second-hand house?

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2019-10-17
Summary:Notice for buying housing in Cambodia: What should we do when we want to purchase second-hand house?

1. Check the ownership of second-hand housing
The buyer and the seller should go to the housing registration Institution to check the ownership of the house, check whether the name of the owner of the title certificate and the identity information of the seller are consistent; check the land use right certificate and specify the life span and other information. If the seller can not provide the relevant ownership certificate, such second-hand housing is very risky, we must be careful to buy.
2. Indicate when and why the original homeowner moved out of his account.                                  When buying and selling second-hand houses, buyers pay attention to property licenses and land certificates, often overlooking the migration of household registration. In order to avoid problems caused by the migration of household registration, buyers should strengthen self-protection when purchasing second-hand housing. When two parties signing the contract, they must agree on the terms of account transfer, not only to clearly define the time for the original property owner’s account to move out, but also Identify the legal consequences of if cannot moving in time.                                                                                                                               3, Define the transfer of property rights                                                                                            First, is there is mortgage in the house?  Before buying a house, we must verify whether the second-hand house has a unfinished mortgage loan, etc. If there is, we must not buy it. If these questions are resolved, the second step is to determine the house is rent out or not. If the house is in a rental situation, it must wait until the lease contract expires before buyer purchase it.       4. Interior decoration of the house                                                                                                When we buy a second-hand house, we should make some changes to the interior decoration, no matter the current decoration, so that we can feel homely. For old houses, the water pipes need to be inspected, because the old second-hand houses often have unreasonable layouts. During the renovation, the original water layout must be thoroughly inspected to check if they are rusted or aged. Walls, doors and windows may be subject to change, and may be redecorated if they are too worn or fragile.                                                                                                               5, pay attention to the vicinity of the house                                                                                  Before we buy a second-hand house, we must check the vicinity around the house. Whether the surrounding traffic is convenient, whether there is traffic congestion all year round, whether there are hospitals, supermarkets and other places around the house. It is also worth noting that we understand the property management service. Good property management services will be helpful to our lives. 

Disclaimer: The re-forward articles on Compass website are for the purpose of conveying more information, and it does not mean that the Compass website agrees with its views or confirms the authenticity of its content. Article noted as "Source: Compass original", please note that the source from Compass. The content of the article is for reference only and should not consider as investment advice, and it does not mean that Compass agree with its views.

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