Some Precautions For Prospective Home Buyers

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Some Precautions For Prospective Home Buyers
Feb 2018
Act in the haste and repent at leisure is the
age-old saying. This basically applies to the
home buying. To avoid the situation where one
would have to repent before home buying, the
buyer must do thorough due diligence of the
property. Here are various precautions that
should take to avoid being the conned by the
scamster-
Do not get carried away by the glossy
advertisements or proffers and ink in the deal in
haste. Do appropriate ground works before signing
the dotted line Do not sign the papers that
cannot comprehend. Take the help of the lawyer
instead You gather all important information
on the owner before zeroing in on the house
As the prospective buyer, you are within the
correct demand documents of record of land,
authority or municipality approvals, title deed,
and other documents from the seller
Never show the blind faith in lender or bank
regarding the consent of projects against which
you apply for loan Also, you must check
local bylaws to verify issue with the building
Verify original documents of property including
development agreement between landowner and
developer It is significant to verify the
developers has obtained non-agricultural approval
for land from authorities concerned It is
advised to buy the home in a building which has
occupancy certificates. This basically means one
should actually avoid investing in the
under-construction property Legal scrutiny
of title in reference to mother deed, sale deed,
land development body, allotment order from
modern bodies, original gazette layout sanction
papers, etc., should be cross-checked It may
be worthwhile to specify the transaction in local
newspapers before closing deals Apart from
scrutinizing the deed of sale, you must confirm
stamp duty transfer fee and registration charges
to be paid by the seller
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