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Purchasing cheap, repossessed houses

Some people, eager to own a cheap house in a strategic location, look to repossessed houses as an alternative

The Jakarta Post
Fri, November 7, 2014 Published on Nov. 7, 2014 Published on 2014-11-07T10:43:09+07:00

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Purchasing cheap, repossessed houses

S

ome people, eager to own a cheap house in a strategic location, look to repossessed houses as an alternative. However, there are certain things you need to pay attention to before buying a repossessed house.

Property law expert Erwin Kallo said that before buying a house, a prospective buyer first needs to meticulously inspect the physical and legal condition of the house.

He recommends before buying a repossessed house to make sure the original occupants have already left the property. Sometimes, a problem can occur if the original occupants refuse to leave the house or keep their belongings inside after it has been sold to another person.

'€œRelocating the possessions of the previous occupant is not easy, you need to cooperate with the security apparatus to do so. Furthermore, you need to make sure that there is space to relocate the things,'€ he said recently.

Meanwhile, Indonesia Property Watch executive director Ali Tranghanda said that buyers needed to make sure that all legal matters, including building permits, had been guaranteed by the bank that repossessed the house prior to the purchase transaction.

'€œMake sure these things have been guaranteed by the bank, so that a problem won'€™t arise when the house is being auctioned,'€ he said. (JP)

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