Before Stumbling in Self-Development

Matar Al-Shammari

1- Availability of cash without mortgage financing.

2- Availability of land ready for construction.

3- No financial obligations.

4- Determine construction costs through an engineering firm.

5- It is difficult to recover from a self-build project that has stalled.

6- Payments from the bank may be suspended for some reason.

7- Support may be suspended if construction is halted and the permitted period of three years is exceeded.

8- Difficulty selling the property.

9- Difficulty canceling the contract with the bank.

10- You cannot transfer the debt to another bank.

Real Estate Consultant

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Another article by the author

The 9 Most Critical Points in Mortgage Financing

Matar Al-Shammari

1- Joint liability between two individuals.

2- Extending the loan term beyond retirement.

3- Mortgage refinancing.

4- Investing through a mortgage.

5- Dealing with companies not licensed by the Central Bank.

6- Mortgaging a property to obtain financing equal to 90% of the property’s value.

7- Long-term financing: the longer the term, the greater the risk.

8- Do not exceed the mortgage financing limit.

9- Paying off one debt with another is not a solution for addressing financial pressure and rising monthly payments.

Real Estate Advisor