Investing in a property or buying a property, these decisions cannot be taken in haste. A proper analysis and a market research are required before investing in any property. Prices of properties have increased drastically in a short time period. There are various documents to be checked before you finalize the deal. Most of the people have doubts on which documents are to be checked, as real estate litigation’s are quite famous.
It is very important to prepare yourself in advance before you finally sign. Before signing anything, it is mandatory that you and your lawyer should go through some important papers to avoid fraud or other complications in the dealing of the property.
People aspiring to buy a property should seek for help in the documentation’s to be checked before they sign. It is better not to be misguided by the marketing gimmicks and thoroughly check the necessary documents before buying any property.
The appreciation value, the legal hassles, the investment benefits, the builder reputation, home loan approvals are needed to be taught upon before buying a property as it is not that supremely easy as it seems. To provide assistance for such people, we have a legal checklist in handy that a buyer needs to examine before buying a land, apartment or a dream property.
Check the following points thoroughly before buying the property as it saves one from future litigations.
24 Legal List of Documents To Be Verified:
- Title Deed /Sale Deed/ Conveyance Deed/ Mother Deed
- NOC from Society (No Objection Certificate)
- Layout approval plan
- Approved Plan
- Occupancy Certificate (OC)
- Completion Certificate (CC)
- Mutation Registration Extracts
- Copy of Possession letter from the Developer or the Builder
- Deed of Declaration
- Power of Attorney
- Sanctioned Building Plan
- Any Loans on Property Verification
- All Paid Tax receipts
- NOC from Water Works/ Electricity Dept /Pollution Dept. / Port Authority
- RTC Extracts
- Release Deed if any
- Joint Development Agreement
- Sale Agreement with the Seller
- No Due Certificate
- Auction Sale authentication letter from the local authority
- Demand letter from the Vendor before the disbursement
- Sale & Construction agreement between Builder or developer & first owner
- EC up to date for last 13 years
- Latest Electricity Bill
Examination of these documents properly might prove beneficial in the procedure of purchasing any property.