BlogCatalog
Buying a house is one of the biggest investments that one
makes in his/her lifespan. Therefore it requires all the due diligence and
homework. Present below are some of the key questions that one must ask to have
a safe transaction:
Documents: Ask the builder whether he has all the documents relating to the property of the house. Take duplicate copy of the same and have them verified with a property lawyer.
Approved Layout: Ask for a copy of approved layout of the building from your builder or seller of the property. Ensure to buy a house that has the building and construction plan approved by the respective municipal authorities and the property is termed as NA (non agriculture). Also ensure that the land is not a trust land, forest land or in possession of some other body.
Intimation of Disapproval (IOD): IOD is set of instructions, given by the respective authorities to builders for constructing the building in a minimum period of time. Ask the developer for the same.
Water & Power: Pls check from the builder whether the property has adequate water supply and there is no problem of power such as voltage fluctuation etc. Voltage fluctuation can cause severe damage to your home appliances and put stress on water as well.
Facilities: First things first. Ask the builder for the access roads and nearby facilities. Though it is the responsibility of the government to provide for roads, ask the builder if there is a plan passed by the local municipal corporation for such access roads. Also ask for the internal facilities like lift, garden, parking, and other amenities that may have been advertised for. Ask him the time it will take to provide for those facilities. Also ask for the additional cost that one will have to bear for such facilities.
Quality of construction: Ask the builder for the quality of material used in the construction (quality of the internal walls, flooring, sinks, bathroom fittings etc.). You may check some of the other constructions of the same builder and have a look at a sample flat. Also ask, if the material used in sample flat will be the same as in original flat.
Factor in all expenses: Last but not the least, consider all costs included in the purchase of the house. Generally, buyers are informed about the marketable rates. Please ensure to check all other costs involved. Some the important costs incurred for buying a property are: floor rise and premium location, parking charges, registration and stamp duty, service tax, notary and legal expenses. Also ask the terms and conditions for the payments very clearly. Also important to know is about the maintenance cost and the actual time when the payment starts.
How to start when you want to buy your own House
Title: Do
not buy a house/property if the title is not clear as the financial institutions
refuse to finance such properties and may cause problems in the future. The
best way is to approach a consultant or financial institutions to know whether
the title of the house/property is clear.
Documents: Ask the builder whether he has all the documents relating to the property of the house. Take duplicate copy of the same and have them verified with a property lawyer.
Approved Layout: Ask for a copy of approved layout of the building from your builder or seller of the property. Ensure to buy a house that has the building and construction plan approved by the respective municipal authorities and the property is termed as NA (non agriculture). Also ensure that the land is not a trust land, forest land or in possession of some other body.
Intimation of Disapproval (IOD): IOD is set of instructions, given by the respective authorities to builders for constructing the building in a minimum period of time. Ask the developer for the same.
Water & Power: Pls check from the builder whether the property has adequate water supply and there is no problem of power such as voltage fluctuation etc. Voltage fluctuation can cause severe damage to your home appliances and put stress on water as well.
Facilities: First things first. Ask the builder for the access roads and nearby facilities. Though it is the responsibility of the government to provide for roads, ask the builder if there is a plan passed by the local municipal corporation for such access roads. Also ask for the internal facilities like lift, garden, parking, and other amenities that may have been advertised for. Ask him the time it will take to provide for those facilities. Also ask for the additional cost that one will have to bear for such facilities.
Quality of construction: Ask the builder for the quality of material used in the construction (quality of the internal walls, flooring, sinks, bathroom fittings etc.). You may check some of the other constructions of the same builder and have a look at a sample flat. Also ask, if the material used in sample flat will be the same as in original flat.
Factor in all expenses: Last but not the least, consider all costs included in the purchase of the house. Generally, buyers are informed about the marketable rates. Please ensure to check all other costs involved. Some the important costs incurred for buying a property are: floor rise and premium location, parking charges, registration and stamp duty, service tax, notary and legal expenses. Also ask the terms and conditions for the payments very clearly. Also important to know is about the maintenance cost and the actual time when the payment starts.
Positive site, where did u come up with the information on this posting? I'm pleased I discovered it though, ill be checking back soon to find out what additional posts you include. mutiny park
ReplyDelete