Top Guidelines to avoid risk while buying property 2022
Top Guidelines to avoid risk while buying property 2022
Purchasing a home is the dream of everyone. In the list of dreams, home is one of them. Someone wants a life in society, someone wants to spend life in a villa/Kothi, someone wants to live on the builder's floor, and many more. Before buying these properties are you people aware of the frauds? Buying a home is not like buying a car, property consists of many papers, legal permissions and many other formalities. Some of the time people come in the talk of agents and advocates and buy property but after a few years, the owner faces problems. So, there are some guidelines to avoid risk while buying property. Buying property is quite complicated and more difficult than buying other assets. Buying property in NCR/Noida/Greater Noida.
Some of the factors you must know before buying a property like:-
1. Self-inspection:- Real estate agents will always keep you in dark, if you are selling or buying property kindly do not be dependent on agents/dealers. If you are looking for any property either you are buying or selling property just do an inspection on your basis, do a cross-check of that particular property, talk to the neighbors, go to the registered authority and get the full details of the property. At the source, you will get full details of that property like first party name, if there any fine is not on the property. Agents are very smart, what they do is, if there is any type of fine on the property they will adjust that amount in the property rate. So before buying any property don't depend on deals take a survey on your level. This is the key point that will keep you away from fraud and risk while buying or selling any type of property.
2. Documents correction:- Documents play a vital role in a property deal. So, before buying any property just check all the documents carefully. For this, you m just know what papers are required before buying a house. you can hire a registered advocate which has positive goodwill and have confirmed many deals as compared to other. But be aware at this point also, as we discussed to be more dependent on others, take the help of google and search there what documents you need before buying a home, just cross-check all the documents carefully. Agents will say you so don't be afraid of anything just be tensioned free from the paper side but don't listen to them. That will decrease the percentage of risk while buying any property.
There are some of the papers you must know before buying any property:-
- No Dues Certificate from society and bank
- Title Report
- No Objection Certificate (NOC) from the bank
- Completion/Occupancy Certificate
- Encumbrance Certificate (EC)
- Utility Bills
- Title Deed
- Sale Deed
- Tax receipts
- Building Approval Certificate
- Possession Certificate
- Share Certificate from society
So, just check these documents before the procedure, that will keep you safer.
3. Check profile:- Don't purchase a home from anyone. Just because of the good-looking home you can't buy that home. Before purchasing a home just check the seller's profile. That will decrease the rate of risk. Just check the seller's profile, and ask the neighbors. Check police records from the neighborhood police station.
4. Analysis of the environment:- Home is not a secondary asset that you will change year to year. So, before buying a home just analyze the environmental factors of that area such as
i) avail of day-to-day goods
ii) school
iii) hospital
iv) transportation
v) check the locality carefully
vi) check the property's physical condition
vii) check the ratio of illegal occupants
viii) neighborhood
These factors play a very important role when buying a property because you are going to live here permanently so the environment must be good if you don't this and you get a bad environment you gonna suffer your whole life. So, just verify everything before buying property. The main point comes that if you are buying any property just see the future for at least 10 years.
After reading these points the conclusion, in the end, is that don't be more dependent on the dealers or agents, just do a manual survey on your own. Just do a satisfactory survey from which you are satisfied. The main reason behind this is, that sometimes agents do not do the documentation properly they just want to sell your property anyhow. If you have good knowledge of all these things then the percentage of risk decreases.
Check whether the property can be easily sold in the future.
Check the past records of the property.
Don't forget to negotiate prices.
Check all legal documents in original.
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