Table of Contents
- 1 What to check before buying a flat?
- 2 What is the procedure to buy a flat in Mumbai?
- 3 Which is best place to buy flat in Mumbai?
- 4 How should you act when buying a house?
- 5 What to do after buying a home?
- 6 What closing documents should I keep?
- 7 What are the things to consider when buying a flat?
- 8 How to buy a flat without any dues from the seller?
What to check before buying a flat?
9 Important Things to Remember Before Buying Flats
- Property Price: The first step in selecting a house or a flat is to fix a budget.
- Flat’s Carpet Area:
- Land Record:
- Legal Check of Property:
- Apartment Possession:
- Financing Banks:
- Builder-Buyer Agreement:
- Location of the Flat:
What is the procedure to buy a flat in Mumbai?
Redevelopment agreement between the Society and the Developer – This is required when you go to purchase a property under construction redevelopment property. Certificate of Commencement. Certificate of Completion. Land information – like M.H.A.D.A, M.M.R.D.A, Freehold Land, Leasehold Land, etc.
What documents should I get when buying a house?
The most important originals are the purchase agreement, deed, and deed of trust or mortgage. In the event originals are destroyed, you might be able to get certified copies of these documents from the lender or closing company, but you don’t want to rely on others’ recordkeeping systems unless you have to.
Which is best place to buy flat in Mumbai?
Top 5 Locations to Invest in Residential Real Estate in Mumbai
- South Mumbai. South Mumbai is one of the most expensive living pockets of the city.
- Lower Parel. Lower Parel is the corporate hub where many businesses have their company offices as well as headquarters.
- Bandra.
- Worli.
- Juhu.
How should you act when buying a house?
10 things to watch out for the first time you view a home
- ❏ Check the floors.
- ❏ Notice cracks in the wall.
- ❏ Pay attention to fresh paint.
- ❏ Look for water in the basement.
- ❏ Test the windows.
- ❏ Assess the roof.
- ❏ Note the trees outside.
- ❏ Eyeball electrical and plumbing.
How can you avoid stamp duty?
Six ways to legitimately avoid stamp duty
- Haggle on the property price.
- Transfer a property.
- Buy out your ex.
- Pay for fixtures and fittings separately.
- Build your own.
What to do after buying a home?
16 Things to Do Immediately After Buying a House (Includes Bonus Checklist!)
- Hook up Your Utilities.
- Do a Deep Clean.
- Change Your Locks.
- Reset Your Garage Security Code.
- Forward Your Old Mail.
- Change Your Address.
- Unpack Your Boxes.
- Buy a Safe.
What closing documents should I keep?
Closing documents: Retain a copy of any document signed during your home’s closing as a backup. This may include the purchase agreement, addendums, disclosures and repair requests, escrow information, inspection reports, and a closing statement.
What is the Vastu Shastra for property buying?
Whenever you are buying a house or a property, it is always better to consider the Vastu for property buying as it highlights the important points to keep in mind and to have a home that promises happiness, harmony, health and prosperity for you and your family. Read on to learn the Vastu Shastra tips for buying new home or a property.
What are the things to consider when buying a flat?
In some cases, when a floor is shared between two owners, the price of the common spaces are shared between the two. The land on which your flat is built is very crucial. You must research about the soil quality and topography of the land on which the house is constructed. The plot should also be clear of all dues and be registered.
How to buy a flat without any dues from the seller?
In order to ensure that all the pending dues have been paid back to the bank, ask the seller to get a No Dues Certificate from the concerned bank. This certificate assures that the bank has received all the dues from the seller and there are no more dues related to the flat and you can buy it without any worry.
What are the legal documents required when buying a resale flat?
It is the most important document that you have to acquire after the title of the flat is transferred to you by the seller in the form of Title Deed. It is essential to go through all the terms and conditions before signing this core legal document. Possession Certificate – The certificate is required while purchasing a privately built resale flat.