Are you planning to move into a ready possession flat? Have you found your dream property? Moreover, we know, having the ease in moving in at the earliest may be the most exciting part of it all but it has its share of research, to make the entire experience smoother for you and your loved ones.
For the experience to be convenient, it’s always the right decision to know about the primary documents you’ll need and verify before making a move.
To assist you better, we have written this blog that clearly explains the documents to look for and its importance.
Here is the list of 5 crucial documents that must be verified while purchasing a ready-to-move property:
1. Sale deed
Source: housing.com
A sale deed tops the checklist as it is the core legal document that acts as proof of sale and transfer of ownership of the property from the seller to the buyer.
It is advisable to read the fine print and make sure all terms and conditions are correct and in accordance, before signing the deed.
2. Completion Certificate
This certificate is issued by the municipal authorities. It showcases the completion of the project with all the rules in place, namely:
distance from the road, height, and if it is constructed as per the approved plan etc.
This document is essential at the time of purchasing a property and seeking a home loan. This certificate also reads that the property when built is per the approved codes and other laws making it suitable for occupancy.
3. Occupancy Certificate
When applied for this certificate by the builder, there is an inspection that is carried by the authorities to ensure every requirement is met as per the norms.
Once approved by the authorities, the builder can obtain the certificate. This certificate is crucial for the buyer, at the time of buying a property, or while seeking a home loan, as it certifies that the project is ready for occupancy.
Related Post - Why is Buying a Home Considered a Good Investment?
4. Building Approval plan
The building plan is another document that needs to be cross-checked by the buyer before finalising any property purchase. Usually, a building plan, also known as a site plan, is the document that contains a blueprint of the project, equipment layout, and utilities.
Buyers must ensure that the entire layout of the building or project doesn’t have any unauthorised or addition construction is run at the risk of the project being demolished or denied occupancy later on.
It is vital to double-check and be sure that the property does not have any dues for which a buyer must check the encumbrance certificate. An encumbrance certificate is also essential as a piece of evidence that your property has no monetary and legal liabilities.
5. Latest tax paid receipt
For the buyer, it is imperative to make sure with the authorities that the seller clears all the dues. The buyer should always ask the seller for the latest & original tax paid receipts. Also important to check the details of the owner’s name, the tax payer’s name, and the date of payment on the receipt.
Nevertheless, every buyer should always ensure that every document or bill such as the water bill, electricity bill etc. are paid up-to-date and have the correct names and area code mentioned. After all, you are making this property your home, and it is essential to make sure that every minute detail is taken care of.
Related Post - 7 Reasons Why You Should Buy a Ready Possession Home
comments