People prefer to buy old apartments and houses instead of new ones, especially at a location, where there are quite a lot of real estate options to choose from. Such homes come with challenges that every homebuyer needs to be aware of.
The property may be in a good condition and pose a good value for money, but there are some legal and technical verifications of the property which can't be ignored before signing off the paperwork.
So, in this write-up, we are mentioning all the details for your ease. Go through all the points and shift in your dream home with no worries at the corner.
What Are The Documents Required For Resale Flat Purchase?
Once you finalise a property, check the builder's paperwork ranging from commencement certificate for work, environmental clearance and approved building plans (If it's a home in a complex). If the property is individual, check the registration work, check all the owners it has passed from.
Among other documents, here are the few most important ones:
1) Title Deed
Check whether the builder or the owner has a right over the property (registration of land and building/home). While buying a land, see the title deed of the land to confirm if the builder/owner has the complete right to sell or lease the space. Hire a lawyer to verify all the documents and history of the paperwork.
2) Release Certificate
While buying a property in resale, remember that it may have been pledged to get a bank loan. In that case, you will have to get a release certificate from the bank or the allocated authority, which will prove that the loan on the land has been repaid.
3) Encumbrance Certificate
The encumbrance certificate is issued by the government of India to verify that the land is free from all legal dues. Either check with your lawyer or visit a police station to verify the dues.
4) Verify Land Use
Remember, all types of land are not for housing development. So verify the land-use zone as per the neighborhood development plan. You can get the plan from the local body office (Municipality) in your respective city.
5) Property Tax Receipts
If you are planning to buy a property in resale, ask for previous tax receipts from the seller along with other bills. A home is accustomed to generate certain bills (power bills, water bills, maintenance, parking, etc.); Checking all the receipts will assure you that there are no added costs to your dream home. Apart from the usual paperwork, there are certain things which you should also check before plan to grab a resale property.
About Company - Maxworth Realty India Ltd
Maxworth Realty Reviews is one of the leading land developers in Bangalore. Since inception, we have created a niche in the real estate market, as one of the finest developers in Bangalore. With steady efforts and dedication, we have delivered an impressive list of prestigious projects that have provided supreme value and total satisfaction to each of our customers. Sincere commitment to understand customer needs and interpret them in innovative ways, has enabled us to continuously offer living spaces that are truly special. We are proud to hold an unblemished record of delivering on promises and our strict adherence to business ethics has earned us an enviable reputation in the real estate market. Maxworth realty CEO - K. Kesava, a young MBA himself, having fresh thoughts & clear vision, it's more than just a team who sees one common dream and does one common thing i.e. to guide our clients to reach out for their dreams. Our steady effort and dedication has earned us the reputation of being one of Bangalore's finest developers, with an impressive list of prestigious projects that have delivered supreme value and total satisfaction to each one of our customers, irrespective of the size. Enjoying lion's share in the real estate space and a long list of awards and accolades stand as the testimony to the fact that Maxworth is one of the most trusted names in real estate market.
For Futher details you can visit
Maxworth realty contact us - #12/2, KMP House, near Shivananda Circle, Madhava Nagar, Bengaluru, Karnataka 560001
Maxworth realty contact number - +91 – 080 - 4245 9999, +91 - 88808- 44455
Comentarios