Wednesday, June 6, 2012

Precautions While Purchasing Properties In Delhi

There are many precautions to be taken by the purchaser while making a deal:
Property through good dealer: A dealer is always helpful from the beginning to the end. He helps you choose the property for you and helps you in finalizing the deal. It's better to pay a property dealer than to suffer from complications of property-purchase. It is better to avoid a hi-fi property-dealer as they can cost more than others.

Opt for direct deal from seller: Property in Delhi should be purchased through a dealer but from the seller of the property. Buyer should make sure that no other person except the seller sells the property because there are chances of heavy margins in between.

Property papers: Look through all the property papers and study the chain properly if any. In case of missing links, either question the seller or don't purchase the property at all. Check the property papers thoroughly. There should be clear title of the property in the seller's name.

Agreement to sell: This is an important document, printed on stamp paper. The document contains the price at which the property in Delhi is purchased, advance received, property value, and mode of further payment. Some people mention the commission percentage for the estate agent to avoid any confusion later.

Agreement to sell should be notarized by the Notary to make it legal. It is an important document and all essential details are mentioned in this document.

It is a very big effort to purchase property in Delhi. Investor should always be careful at every step.

Payment receipts: It is obvious that only 10% of the payment is made at the time of first meeting. Further payments are made in the middle of the time period. Then the payment receipts should be taken as proof of payment.

Loan on property: It is better to borrow some loan on property to check its clear title. This helps in getting the property papers in full and also prevents buyer from any cheating.

Registry: Buyer gains the full title of the property in Delhi only after full-payment and registry of property in the buyer's name. This is done in court through proper panel. The Registrar signs the registry in the name of buyer and hands over the receipt. The actual copy of registry is received after fifteen days or so through courier or directly from the office of registrar.

Investor has to be careful at each and every end or else he may be taken for a ride.

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