After a long search with keyrenter houston, you can find the property of your dreams in the region you always wanted and for a price that fits your budget; however, you are informed that the property is not registered. The real estate market is full of terms and complicated situations that end up causing a particular fear to people who are not in the middle.
After all, what is property registration? In what situations is it necessary to do so? People explain!
The registration of a property is the act of legally updating, in its registration, the structural changes made or even changes in the condition of its owners. Among the changes to the property that require the registration of an annotation is any renovation or construction that changes the number of rooms or the total built area of the property. Changes in the marital status of the owners (such as marriage or name change) must also be registered through an annotation.
Purpose Of An Annotation
The primary purpose of an annotation is to keep, in the property registry, a history of changes made to the property. Having this history is essential because it allows you to know what changes were made and in what period they took place and make it possible to know who owned the property throughout its existence. All these records contribute to the valuation of the property.
Another situation that makes it necessary to have the registrations of a property updated is when you want to finance the property in a purchase and sale process. For the credit to be approved, banks require that all documentation (both from the buyer and seller and the property) be up to date, and the property registration is one of these documents.
Once you understand the importance of registering your property, you need to know the procedure to perform this task. The steps differ according to the change that was carried out. To find out all the necessary documentation at keyrenter houston, it is interesting to contact your property’s Real Estate Registry Office.
However, suppose the change is related to a structural change in the property. In that case, it will always be necessary to have the Certificate of Habitation (a document issued by the city hall that describes the built-up area and the rooms of a property).
The real estate market has details that can seem very complicated and bureaucratic to most people.