How To Get The Right Subsale Properties In Miri
In Miri, subsale properties or houses do not necessarily always mean that it is old and rundown. Sometimes it is actually a hidden gem surrounded by the best amenities and infrastructure in Miri town. If you are ready to buy a property and have shortlisted certain amazing options, you might already have your eye set on a particular subsale property. However, you would want to be extra careful on assessing the overall status or condition of the property and ensuring that it fits all your criteria.
In this article, Tasan will show you some tips to assess the subsale properties in Miri which you have been eyeing on!
Search for information
Always get as much information as possible especially the legal status of a property. This is to make sure that you can avoid any ownership disputes in the future. You should always do a land title search as this will be able to reveal information such as
(1) ownership and title details,
(2) whether the property is subject to any restrictions or limitation,
(3) status and tenure (whether if the property is freehold or leasehold),
(4) area and built-up size of the land, and
(5) any other conditions which could potentially affect the use of the property.
You can always hire a lawyer to conduct the above mentioned search on the relevant land or subsales property if you have no idea of where to search online for it.
Most importantly, always ensure all the financial matters related to the subsales property, such as the up-to-date utilities payment, assessment rate and more, is fully disclosed to you.
Before making the decision of purchase, always bear in mind to have professionals go over for inspections on potential problems. 5 main problems which you should take extra precaution on when performing an inspection:
(1) always look for sign of water or moisture damage inside and outside, clogged drains, fresh cement or pain hiding in the property’s pipes and plumbing system,
(2) check for broken tiles or leaking roofs,
(3) look around for signs of termites or decay on wooden doors and window frames,
(4) check if there is any mold or mildew in the corners, cupboards and damp areas of the property and,
(5) always ask and take a look at the wiring layout for easier modification if any.
If there is any of the above problems present on the property, the professionals will be able to tell you if the subsales property is worth the price or purchase at all.
Assess the environment
Property is a long term investment and any prudent buyers should pay extra effort in checking for the area on any potential environment impacts which could affect the value of the property. By having information on the safeguard of the property, such as whether if there is adequate drainage system, can help in determining how potential developments in the area might affect the property. Through understanding the condition of the area can help you to determine on what type of insurance you should get for the subsale property you are aiming for.
Talk to the neighbours
A way to understand an unfamiliar neighborhood is always through the locals there. Talking to the neighbours not only help you to set a good relationship with them, they will also most likely see you as an allies when times are getting rough. Most of the communities can be found on Facebook or other social media platform. Facebook page is one of the most used tool and an active page will usually give you an idea of the hot topics being discussed. The move is necessary as buying a subsale property or a house does not only affect you but also your children’s experiences and opportunities.
By analyzing the possible future developments of the area could affect the price of the property. If there is future development planning such as having a future MRT station, banks, supermarket, hospital or school at the area will definitely boost up the subsale property price. However, an underdeveloped neighborhood may make the area to be heavily congested which leads to it being an undesirable location.
In conclusion, whether if it’s a new property development project or subsale properties in Miri, you would want to choose a property that does not only serve as a home now, but also serve as a great asset in the future that will yield good capital returns! Neevrtheless, if you’re not confidence enough to do it by yourself, you can always find a property company to do it for you.