33 Important Document Checklist For Home Buyers

Things-to-Consider-Before-You-Buy-a-Property

If you are considering to buy a home because of decrease in property prices, then you should definitely consider the following documents of your seller, just to be sure of his genuineness:
1. The most important document would be Sale Deed or Title deed. It is also referred to as Mother deed or Conveyance Deed.
2. Verifying RTC Extracts would be the second most important step.
3. Khata Certificate and Extracts is an important document as it verifies the owner of a property and his ownership over it.
4. Mutation Register Extracts refers to as extraction from mutation register, managed by the Village Accountant. It defines two things primarily,viz, transfer of land and its mode of transfer for verification by inquiry officer.
5. Joint Development Agreement refers to as the legal agreement between two or more parties or builders.
6. General Power of Attorney is a document which grants any person to act on behalf of another person.
7. Building plan sanctioned by the Statutory Authority defines the approved plans by government made for any building(s).
8. NOC or more commonly called as No Objection Certificate, is a document for stating the clearance of all bills related to Electricity Deptt/Pollution Control Board/Water Works/ Air Port Authority.
9. Any other supplementary agreements or Ratification Deed (if any), laid on the property.
10. Allotment Letter document from the Builder/Co-Operative Society/Housing Board/BDA.
11. Builder Buyer Agreement (BBA) document which states details such as floor plan, escalation charges, construction specifications, etc.
12. Construction Agreement between Builder and Owner, is a legal document stating the policies and conditions between both parties.
13. Copy of possession letter given out by the builder states the details regarding property possessions over the years.
14. All payment receipts paid towards the builder should be viewed.
15. Checks should be made against any loan on the property (Current or past) or on the Original Property Documents with the respective bank.
16. A Sale agreement made with the seller should be carefully checked
17. The latest Tax Receipts till Date of Registration (Property Tax/Municipal Tax etc) should be checked and verified.
18. Any Encumbrance Certificate for the past 13 years or from the date of registration till date, should be clearly noted.
19. Any demand letters given out by the builder(s), should be checked.
20. No Objection Certificate issued by the Society/Building association should be seen.
21. If a building association has issued a no-due certificate, then it should also be asked for.
22. When it comes to the building, all approved plans of construction or extension & license for construction should be viewed.
23. Receipts ordered for conversion order or betterment charges paid should be seen.
24. All layout approval plans which have been sanction should be seen.
25. Confirmation letter from Local Development Authority regarding any auction sale should be included in the documentation.
26. Under certain circumstances the Release deed, should also be issued and noted down.
27. All certificates for completion should be viewed and checked with government authority.
28. Any Occupancy Certificate, issued by the builder/owner should be asked for so as to avoid any future claims by some other party.
29. All certificated determining loan or charge or mortgage taken by builder should be carefully verified.
30. Coming to the last few certificated, the Deed of Declaration should be carefully checked and verified.
31.All owners or builders are liable to showcase their latest Electricity Bill
32. All builders and/owners are subjected to declare their Maintenance Bill or Common Area Bills & Receipts at the time of sale.
33. Buyers can check and verify the sellers or builder or owners genuineness by asking for their ID & Address proof. Also, they can ask for a copy of all of this along with verify signature on PAN Card.

Additional Checks:

1.Personal inquiries about family disputes about it should be verified. Talk to each and every concerned individual.

2.A sensible choice would be to hire an advocate to conduct inquiry from the revenue authority. This should be done to know whether the property is free from loan or mortgage etc.

3.Prior to paying any amount check for a no dues certificate from Tehsildar/ Municipal committee/ electricity department/ Housing Urban Development Authority. These days it is common factor to see enhancements compensation being awarded by the courts. In such a scenario a no dues certificate is extremely important

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