18 things to check before buying a property

You need to admit it. Buying  property is not all that supremely easy. You need to think about the appreciation value, the investment benefits, the legal hassles, the builder repute , home loan approvals and all that jazz. So here is a check list for you that will come in handy while you buy that dream property.

Basic things to be checked while buying property:

1. Name & title of Land should be very clear in the name of seller
2. Check whether the seller obtained Loan for that property, accordingly a paragraph in sale deed to be added saying that the seller is responsible to clear all the dues
3. Ask for Moola pathram/Parental Documents
4. All major children ie., major children of Sons & Daughter’s should sign in the bond/agreement
5. Municipal tax dues/Water tax dues/Land Revenue dues & any other dues to be paid fully before the transaction
6. Villangam & Viharam nothing has to assured. In case, of above and any hindrance to property the seller will clear the issue and dues on his own accordingly a paragraph to be included in sale deed
7. Obtain No Encumbrance certificate from concerned authorities.
8. Mention the Flat No & Plot No in South/East/West/North/Complete Land area Length/Breadth and Diagonals also in the Sale deed.
9. Check on Electricity Board charges and dues
10. Check whether the property is in seller name or is it with Joint venture development
11. Seller’s any of the blood relation should not claim in future & if any claim arises then it will be sole responsibility of the seller to get involved and clear all such disputes.
12. Get the identity and address proof of the seller
13. Obtain all payment receipts, Patta , Chitta ,Adangal extracts ,Up to date tax payments receipts of Water/EB/Property/Corporation/Municipality/Revenue & other taxes etc.
14. Confirm the originality of stamp papers and only purchase stamp papers from Govt services ie., Registration of Assurance offices only
15. Date of purchase of stamp papers must match with the date of the documents – Most important
16. Obtain Genealogical tables (family tree) of the seller, will, certificate of husband/wife and other inter connected all documents although the above many not be required for registration
17. Crystal clearly shows door no/flat no/plot no and other descriptions of the property
18. Check if any third party interests, suppression of previous transaction, prior agreements if any, litigation and other pending matters, which are brought to light during various stages of purchase /negotiation.

Source:pbytes