Buying a home is everyone’s dream and the top most priority in one’s life. But while buying a home or a real estate property for another person, you need to make sure of a few things so that you remain on the safer side. There are so many fraud cases registered every year where buyers are completely screwed out of their money. The following steps will help you immensely while buying a home.
Paperwork – Paperwork is the most vital part to check before buying a property. You may not be knowledgeable about it and hence, you should consult an appropriate person who can verify the details so that you can make the purchases without any tension.
Background Check – Sometimes, a fake seller provides fake documents and hence, a background checking is important. If the details of the current status of a property are available online, you should check it at once. Else you can do a background verification through the police station. If there are any disputes or unlawful construction, you will get to know about it. You can visit local governing bodies like municipality’s land department to see the construction was approved or not, if there is any legal obligation and who is the owner of the property and whether the land taxes are cleared or not.
Dues Clearance – Generally, most of the constructions are done by taking loans. Before buying a home, you have to make sure that no loan is due and you should opt for release certificate and encumbrance certificate so that banks or financial institutes cannot make a sound later. Also, get the property tax receipts for records.
Pricing – It is important to ensure that you are paying the right price for the property. You can appoint an expert to evaluate the price of the property at a certain area by considering the valuation of land and the condition of the house and items that are in it. Also, check the infrastructure plans like whether it would sustain or whether there are safety plans and likewise. All these factors are useful in better price estimation.
Appoint A Lawyer – You should appoint a personal lawyer to prepare papers in such a way that nothing could get in your way. He would ask for evidence papers which you might not have thought beforehand. He will also tell you the entire process of registration and transfer of property in case you do not have any prior experience.
Follow these steps and take help of experts to prevent future hazards.