Buying a property is a crucial decision for any buyer and needs a lot of research as they are going to invest their hard earned money. So, to safeguard the property and the investment it is important to check for the various key legal things before finalizing the property.
No impulsive decision should be taken and deal should be sealed only after validating several documents that prove the ownership status of the property.
In this article, will help buyer to examine the property for sale before he is ready to sign a deal.
• Property Documents Checklist
The first step is to check the documents of the property thoroughly to be risk averse and avoid any kind of uncertainties. Either you are buying a residential apartment or a commercial property; do check the documents like Government order for grant, succession certificate, sale deed, gift deed, will, partition deed, etc., evidencing the transfer of title over the years, leasehold, freehold, or development right.
Also Read: Know Everything About- Haryana Online Building Plan Approval System (HOBPAS)
Make sure you have checked all paperwork beforehand so as to make your investment a safe one.
• Verify the identity of the seller
With verifying the papers, checking for the identity of the seller is also important. Check for
Residence status and nationality of the seller, Identification of all owners, in case of properties held jointly.
Also, documents that typically help you to ascertain the identity of the seller such as Aadhaar number, PAN number, passport, income tax returns, salary certificates, etc. should also be checked. So, before you buy a property some mandatory checklist can make it a safe one.
• Other Documents
1. Conversion and land-use permissions
2. Construction approvals
3. Occupancy certificate
4. Status of tax payment
5. Encumbrance
6. Physical survey and access to the property
7. Compliance under the Real Estate (Regulation and Development) Act, 2016 (RERA)
It is always advisable that the buyer before the purchase make and take clearances for the property either he is looking for high-rise residences or villas for sale.
Read Also: Uttar Pradesh Online Building Plan Approval System-UPOBPAS
6 Comments
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