What is the procedure to buy an apartment?

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What is the procedure to buy an apartment?

1) Title Verification. As a preliminary step, the buyer must first confirm the existence and validity of the property title. It must be free of any mortgages or previous unpaid dues. Scrutinize all documents for a minimum period of the last 12 years, going up to 30 years for any legal discrepancies.

What are the documents to be checked before buying a flat?

Which documents do I need to submit while applying for a home loan for a resale flat?

  • Agreement to Sell (ATS)
  • Chain of Title or Sale Deed.
  • NOC from the society or other concerned bodies.
  • Share Certificates in case of societies.
  • Title Report.
  • Occupancy/Completion Certificate (OC)
  • Encumbrance Certificate (EC)
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How long is the process of buying a flat?

Usually, the whole process can take between 6 weeks to 8 months however if you have a good team in place (solicitor, estate agent etc) then this will always help the process run more smoothly. Finding a property means researching the area, finding estate agents and searching websites.

What to do before buying a lot in the Philippines?

Your Guide to Buying Land in the Philippines

  1. Verify Ownership.
  2. Look into Possible Issues.
  3. Secure Notarized and Signed Deed of Sale.
  4. Settle BIR Fees.
  5. Process Transfer Taxes.
  6. File CGT and DST Documents.
  7. Secure New Tax Declaration Copy.

What do I need to know before buying a lot?

6 Things to Consider Before Buying Land to Build on

  • Location. The absolute most important factor to consider before buying land is its location.
  • Property Setbacks.
  • Zoning Requirements.
  • Natural Hazards.
  • Easements.
  • Utility Sources.

How quickly can you purchase a property?

On average it’s 20-90 days to find a house, 15-30 days to receive a mortgage offer, 20-30 days to find a solicitor and exchange contracts then 10-30 days to complete and get the keys.

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How to buy property in Telangana state?

A buyer, along with the seller and witnesses, needs to visit the sub-registrar’s office, nearest to the location of the property, to pay the stamp duty and registration charges as applicable in Telangana state. A part of the Telangana property and land registration can be done online, where you have to upload all the documents online.

What documents do I need to buy a property in India?

The documents required are: Original documents, with the signature of all parties. Encumbrance certificate. Demand draft/bank challan of payment of full stamp duty. Section 32A photo form of executants and witnesses. Identity proof of the buyer, seller and witnesses. PAN card.

How to apply for Telangana encumbrance for your property?

The additional details to be filled in the application include Survey Number, house/ property address, the period for which Telangana Encumbrance is required, and a full description of the house/ property, Telangana Stamps and Registration. You must pay a fee with the application form.

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How to check list of prohibited properties in Telangana?

Property buyers in Telangana should check the list of prohibited properties, before signing or making any payment to the seller. The list can be searched on the Telangana Registration Department portal, by following these steps: Step 1: Visit the Telangana Property Registration Department and select the Prohibited Property option.

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