What Documents To Check To Avoid Fraud When buying house/property?

Buying a dream home is an investment for the lifetime. But, the experience can become nightmarish when you are not careful. Buyers wish to buy a property which is easy to move in and ready to use. No one wants to wait for years when the home is already completed. Paperwork is extremely important when it comes to buying a home. Many times the builders do not deliver what was promised by him. Most of the new home projects have a clubhouse and swimming pool, but at the later stage such facilities vanish. If any of such events take place, you can easily file Complaint Against Builder In Ahmedabad. But before you need to take any such step, it is always beneficial to proceed with caution.

Hiring a good lawyer prior to buying the home

If you do not have much idea about the paperwork, it is recommended that you get in touch with a lawyer. He will provide you the list of documents and papers that may be presented to the seller. The seller can check them and give you a written opinion that the documents are perfect. With the help of a lawyer the entire buying experience can become enjoyable. Buying real estate may be extremely complex and if you are not aware of the rules, get in touch with a reliable and experienced lawyer.

complaint against builder in ahmedabad - cheated buyers

Sale Deed: the core document

A sale deed acts as the proof of property sale and the transfer of ownership. The core document passes from a seller to the buyer of the property. Before executing the sale deed, it is important to execute the sales agreement and check whether it complies with the terms and conditions or not. The property must bear a clear title prior to execution and the seller must settle statutory payments.

Mother deed: must to consider

It is also called the parent document which traces antecedent ownership or the origin of the property right from the start. The document facilitates the sale and even establishes a new owner. If there is no Mother Deed, certified copy must be attained from the registering authority.

The building approval plan

It is mainly BDA which sanctions building approval plan. Without the approval from BDA, BBMP, BMRDA, BIAPPA, the construction of the building will be considered to be illegal. The building approval plan is sanctioned from jurisdictional commissioner based on the floor plan, the zonal classification, FAR or floor area ratio and the plot depth. To attain the approval, the owner needs to submit documents to the jurisdiction.

Commencement Certificate

This is again an important document which the buyer needs to look. This document states that the project meets all the set criteria. The construction can start only with this certificate.

Checking the encumbrance certificate

This certificate states the charges involved in the ownership of the property and the liabilities. It will comprise of all the registered transactions that were done on the property.

take over complete handover

Power of Attorney or POA

With the Power of Attorney the owner of the property gives the power of owning the property to the buyer. POA transfers the right to someone else.

Completion Certificate

This is issued by Municipal Corporation to denote that the building is made in compliance with the rules and terms. In other words, the building is constructed as per the plans.

The need for checking Occupancy Certificate

After the construction is over, this certificate is attained only when the place meets all the norms. It certifies that the property is ready to be occupied.

Apart from checking the above documents, you must also read up the Review About Builder And Project to ensure that the builder is not a cheat. However, there is also the provision for filing Complaint Against Builder In Ahmedabad.

Leave a Reply

Your email address will not be published. Required fields are marked *

Essential Remedies... : Investing in the real estate property is the most risky investment, but...
Why online Review... : Shelf life of Twitter/Facebook feed is not more than  2-5 minutes whereas ...
Practical approach... : it is the first real estate company that has entered insolvency...
Has Your Builder... : Real estate is the fastest flourishing sector in India. In the last two...
Looking To buy Your ... : Buying a real estate property is a pretty expensive transaction and thus...