“Home is where you feel loved, appreciated and safe” – Trace Taylor. This statement is where the real estate industry revolves around, for it knows the emotions of its customers or clients.
Buying a house is an event important enough ads it involves investing a considerably large amount of money. Although many people today manage to buy a home through savings, others largely depend on financial loans to fulfill their dreams of owning a house.
Consumers mostly rely on the existing reputation of the builder, though the approach isn’t right as perfect paperwork should be the foremost criterion to buy a new house. Caution should be maintained and a check must be kept if the builder has the essential paperwork done before investing in a particular project.
It is important to check the builder’s credibility on different forums. A check on their past projects worked, their reputation and their work attributes will help in deciding better on which builder to choose for your home.
Here are the 5 things that need to be taken care of as precautionary care, before buying a house: -
Check The Title Deed
It is of prime importance to review the title deed of the land on which the property is based on. The deed will not only give the consumers clarity about the pros and cons of the property but will also help them understand the actual scenario, be it – ownership, sale or transfer of ownership rights. This deed will also clarify on any existing litigation concerning the property.
Review the Intimation of Disapproval Documentation
The permissions, as well as “No Objection Certificates” are the documents that comprise of the Intimation of Disapproval. It acts as a declaration for the builder where he obtains permissions from different departments like the - Storm Water and Drain Department, Forest Department, Traffic and Coordination Department, Environment Department and others at the various stages of construction. A commencement certificate is what that must also be checked along with these for it allows the builder to start the construction on legal terms.
Check the Certificate of Encumbrance
You would never want your investment in real estate that has pending litigations or any monetary liabilities. Usually, these facts are hidden from the customers but exercising caution on your behalf by having a look at the encumbrance certificate is a mandate. It helps in confirming the fact that the land is free from every kind of legal issue.
Know the Layout Plans
With real estate scams cropping up in the market, one should verify the layout plan documents before actually putting in money. Reviewing the documents and checking if they had been authenticated by the respective authorities is a must. Insisting on having a look at the occupancy certificate implies on the knowledge of the customer as well as a check on the developer that every kind of litigation has been cleared with.
Verifying the Purchase Agreement
When all the above processes have been cleared with, checking the purchase agreement is important. Every minute detail regarding the payment details, construction, specifications regarding the apartment, deadlines and penalties are mentioned in this document. The purchase agreement is the basis of every kind of future negotiation available and also acts as a solution provider from every misdeed that can take place in the foreseeable future.
Signature Global, led by strong management and highly-qualified Board-of-Directors team, it is poised for rapid growth. The team’s extraordinary experience and detailed industry insight allow the company to discover new opportunities and realize their true potential. Its projects are widely spread across the country - be it the corporate offices or residential buildings. Their projects cover the areas of Gurugram, Karnal and Ghaziabad.
