Whether you are a buyer or seller, there is a need to ensure extreme caution to strike the deal. There can be a lot of complications later on if you are not careful right from the beginning. The documents play a significant role in buying houses for sale. Depending on the side you are on, you should check all particulars, especially regarding the parties involved.
The material part of the property document is the names of the parties. Therefore, make sure that:
- These names are correctly recorded by verifying it with the academic records or passport.
- You check the age of the parties tallying it with the records available.
- The addresses are clearly mentioned along with the profession of each party.
- You check the link document number, date of registration, district name
- As well as check for the office name of the registrar and the sub-registrar.
Also make sure that the document records all details of the monetary transaction made or yet to be made. This is probably the most important aspect of the document. Check the number of the check issued, the date, bank and branch and seek advice from experts while checking these aspects of the instruments.
Also check the schedule of the property, the location of the houses for sale, town survey number, plot number, boundaries of the property.
Reading the sale agreement
When you read the agreement for the houses for sale there are a few specific points that you should keep in mind as a home buyer.
It should mention the name of the builder of the seller along with their roles. Your role must also be mentioned in it. Ideally, the seller is the proposer and on the other hand, the buyer is the acceptor. Both should be willing to play their role.
You must also know the terms and definitions used in the sale agreement. Some of the most confusing terms are carpet area. Knowing these terms will help you to adhere to the terms and conditions of the sale.
All payment related terms must be clearly defined, understood and followed by both the seller and the buyer. Most importantly, it must mention the grace period both for delivery of project or making the payment, if you are buying an unfinished house.
When buying houses for sale in a large complex or an apartment you must check that the sale agreement mentions the use and ownership rights of the common areas, recreational facilities, and amenities within the society. Of course, check the maintenance clauses stated in the agreement.
Seeing the house
It is important that all houses for sale are ‘shown’ to the buyer properly. Therefore, when you are done with the sale agreement you should make sure that you consider these following points when you see the house. This will ensure that you make the best deal for the house. It is required much more to be clean.
- Make sure that every room is shown to you, even those that are kept under lock and key.
- Check that all doors and windows lock properly and cannot be opened from the outside.
- Also check whether or not the doors and windows have additional space for installing alarm systems.
When buying the houses for sale from any agent, it is required that the agent is present when you are shown the house. Lastly, and most importantly, you must ensure that you do not rush things while seeing the house. Check every minute detail.