How to buy a property without getting cheated?
If you are planning to buy a property you will need to keep certain points in mind to avoid being cheated:
Always
- Insist on original documents
- Verify ‘ownership of property’. In case of non-availability of original documents, ascertain about it with the help of photocopies from the local land authority or revenue authorities
- Make sure that land to be purchased does not come under ‘acquisition notification’ of Govt. u/s 4 & 6 of Land Acquisition Act
- Ascertain that the project has the approval of the town planner
- Prefer thumb/finger impression over signatures of vendor
Verify
- If the transfer of the property is to be made through GPA, Agreement to Sell, Receipt etc. then verify ‘whether the attorney holder has the right to sell’
- The site plan/map with regard to the property and its location
- Whether the property is mortgaged with any institution or is involved in any civil/criminal matter
- Whether Directors of promoter company or builder is facing any criminal charges in respect of their earlier projects. If this is the case, it is in your interest to not deal with such seller.
Check
- Clauses of Power of Attorney, Agreement to Sale, Sale Deed etc. Get them checked by a qualified party whom you trust.
- If registered, proper verification/inspection with regard to the record of property should be done from the Sub-Registrar office
Ensure
- Complete ‘chain of documents’ starting from the original allottee/owner to the concerned vendor is obtained along with the sale documents executed regarding property to be purchased
- That the amount paid is in the name of concerned owner through cheque /demand draft only
- Property is purchased only through properly registered Sale Deed
- Agreement to Sale is entered into before final execution of documents regarding transfer of property
- ‘Signature / impressions’ of both the parties are properly executed. Make the party(ies) sign before you
Never
- Make payments in cash
- Rely upon unregistered / simply notarized document(s), or pre-signed document(s)
- Leave the property unattended
- Purchase agricultural property without NOC of Tehsildar
- Get mere documentary possession. Instead ‘ensure proper physical possession’
- Purchase any property without visiting it personally and making verification in the locality
- Go by the lucrative pre-launch advertisements by the developers without proper verification of license, land etc
Comments
Post a Comment