THE CHECKLIST

THE CHECKLIST

Check ownership papers thoroughly. Ideally, appoint a lawyer who will do the cross-check with the local registrar/authorities.

Find out about the age of building (construction), check the building for defects etc.
Talk/meet with some residents of nearby houses about security, electricity and water. Do a general check on the house you are buying as well – about owners or tenants who used to or are living there.  

Talk/meet the society office-bearers and enquire about the status of the owners and the said property. Check for any dues. Check whether water/electricity/maintenance/property tax bills have been paid or not.

You could also consider giving a small classified advertisement in the paper – saying that you are buying this property and if anyone has any matter pertaining to the house, they should come forward within a specified date…keep a copy of the advertisement for your records.

If you are opting for a home loan, then the bank will also do a check on ownership etc. This safeguards your purchase to a great extent.

Check the locality for good facilities – nearest school, hospital, market, police station, parks and club.

Comments (+)