Advance Payment While buying Home

Advance Payment

Making advance payment while buying a property is a very cruel thing when you buy a real estate property, when you buy a property, here you have to pay a lot of supplementary charges, you have to pay for a lot of forms, for which the builder asks for advance payment from you. Is

So in today's blog post we are going to talk about what things you should take care of if you are going to buy a property and the builder is asking for advance payment from you, today we will know the same in this blog post.

Booking amount

When a property deal is negotiated and the buyer and outside talk to each other well and the buyer of the property also sees the property well, then I ask you to ask the property dealer or developer for a token amount. In the form or in the form of booking amount, in many places token is also called earnest money, it is asked for.

Generally, while buying this property, the developer or the real estate agent asks for a booking amount between ₹ 50000 to ₹ 100000.

Stamp duty

According to property law, when you buy any property, you have to pay some stamp duty for it and which is not transferable or refundable in any way, also you have to pay before the heart is complete. And which has to be paid by the buyer only.

Advance TDS

As per the legal change of 2013, when you buy a property above 5000000, the buyer has to deposit one percent of the total transaction as TDS before making the payment to the seller.

Home loan advance payment

When you buy a residential property, then you have to pay attention that the seller of the property does not already have any problem on that property, if such a loan is already running, then it is possible that he may ask you to make an advance payment for it. In such a situation, you should keep in mind that you should take NOC from their side, no additional charge or any dues are left, otherwise, you will have to make all that payment yourself.

Today in this article we have discussed a little bit about advance payment while buying a property, hope you have understood the information, if you have any questions or suggestions, you can drop them in the comment section below and share the information with your friends. can thank you