Buying a house through a Mortgage Loan (KPR) is one of the most popular solutions for achieving the dream of owning your own home. However, this process is not always easy and can be risky if not handled carefully. Therefore, you need to ensure several things before deciding to proceed with a mortgage application.
This time, the BFI Finance Team, as a financing institution providing Second Home Mortgage Loan services, will summarize 16 tips for buying a house with a mortgage to avoid scams. Let’s check it out so you don’t get easily tempted!
1. Compare House Prices
The first tip for buying a house with a mortgage to avoid scams is to compare house prices. Before making a purchase decision, conduct research on house prices in your desired location. Compare prices from several developers to get an idea of the market price. This helps you determine whether the price offered is reasonable or too high. Use online platforms or attend property exhibitions to obtain this information.
2. Check the Developer’s Reputation
The reputation of the developer plays a crucial role in home purchases, especially if the house is still under construction. This is an essential tip for buying a house. Choose a developer with a proven and trustworthy track record. You can look for online reviews or ask previous buyers to verify the quality of their past projects.
3. Don’t Be Tempted by Cheap Prices
Cheap prices may be tempting, but you must be cautious. Houses priced significantly below the market value may have issues, such as poor construction quality, less strategic locations, or unclear legal status. Therefore, always ensure that the affordable price offered is reasonable and does not compromise other essential aspects. This is a crucial tip for buying a house with a mortgage to avoid scams.
4. Use a Mortgage Calculator as a Guide
The next tip for buying a house with a mortgage to avoid scams is to use a mortgage calculator. Before applying for a mortgage, use a calculator to estimate your monthly installments. This tool helps you align your financial capabilities with the house you want to buy. You can use the official calculator from BFI Finance or Rumah 123, an official partner of BFI Finance. This helps you avoid the risk of defaulting in the future.
5. Choose a House That Meets Your Needs
The fifth tip for buying a house is to ensure the house you choose meets your and your family’s needs. Consider the number of rooms, land area, surrounding facilities, and transportation access. Don’t just focus on design or location; also think about long-term comfort.
6. Check Land Legality
Land legality is a critical factor to check. Ensure the land where the house is built has official certificates and is free from disputes. You can seek assistance from a notary or a land deed official (PPAT) to verify the authenticity of the documents.
7. Understand the Booking Fee Agreement
Before paying the booking fee, make sure you understand the applicable terms and conditions. Ask whether the booking fee is refundable if you cancel the purchase. This is important to avoid losses if your mortgage application is denied or if you change your mind.
8. Pay Down Payment After Mortgage Approval
Do not rush to pay the down payment (DP) before your mortgage is approved by the bank. Paying the DP too early carries risks if your mortgage application is rejected. Ensure all administrative processes and approvals are completed first.
9. Monitor the Buying Process Carefully
Every step in the house-buying process must be carefully monitored. Don’t hesitate to ask questions or request clarifications if something is unclear. Document all processes to keep complete records as safeguards in case of problems.
10. Conduct Transactions with Official Parties
Ensure all transactions are conducted through official parties, including developers, banks, or notaries. Avoid making payments through intermediaries or unidentified individuals. This step is essential to prevent fraud risks.
11. Verify the Certificate Completion Process
After purchase, ensure the certificate completion process proceeds as agreed. Certificates are legal proof of ownership, so confirm they are issued in your name within the agreed timeline. Important certificates to check include:
● Certificate of Ownership (SHM): Indicates full ownership rights.
● Building Use Rights Certificate (SHGB): Ensure its validity is long and extendable.
● Sale and Purchase Deed (AJB): Validates the legal transaction.
● Building Permit (IMB): Confirms compliance with building regulations.
12. Sign the Sale and Purchase Agreement (PPJB)
The Sale and Purchase Agreement (PPJB) is an important document in house purchases. Carefully read all clauses before signing. Consult a legal expert or notary if you encounter terms you don’t understand.
13. Inspect the House in Person
Do not rely solely on brochures or design images. Ensure you inspect the house in person, especially if it has already been built. This helps confirm whether the condition matches what was promised.
14. Monitor Construction Progress
If the house is still under construction, monitor the progress regularly. Visit the project site to verify whether construction follows plans and specifications. Report any deviations you observe.
15. Ensure Building Warranty or Retention
A building warranty or retention guarantee is an assurance from the developer regarding the quality of the house you buy. This is an essential tip for buying a house with a mortgage to avoid scams, as warranties cover potential defects after handover.
16. Choose a Suitable Mortgage Program
Each bank offers different mortgage programs. Choose one that best suits your needs and financial situation. Compare interest rates, loan terms, and administrative fees from multiple banks before deciding.
Buying a house with a mortgage requires careful planning and patience. By following these 16 tips for buying a house with a mortgage to avoid scams, you can minimize risks and ensure a smooth purchase process. A house is a significant investment, so make sure you take the right steps to achieve your dream home.
BFI Finance, a trusted financial institution offering mortgage programs, especially Second Home Mortgages, provides competitive interest rates, easy applications, and flexible terms. Want to learn more about the requirements? Click the link below.
Additionally, BFI Finance offers loans secured by vehicle ownership documents (BPKB) and land certificates. Enjoy loans of up to 95% of asset value with competitive interest rates and long tenures, subject to eligibility and required documents.
BFI Finance is licensed and supervised by the Financial Services Authority (OJK). Apply for financing now, only at BFI Finance! #SelaluAdaJalan
