Before buying a property, you must need to check some Documents!

Purchasing a property can be a difficult undertaking, and it can occasionally turn into a mess when you are unable to find the particular property you are looking for. The most important requirement in this situation is patience because looking for a house is a lengthy procedure that takes a lot of time.

There are many factors to consider, such as finding the ideal property in a prime location, such as Gurgaon properties, Uttam Nagar properties, Dwarka properties, etc. but one of the most important aspects is the legal process, for which both the builder and the buyer must be held accountable.

Signing a few documents completes the home-buying process. Before the house is handed over to you, you must sign 8 to 10 legal documents. Although the process is both time-consuming and exciting, the end result is delicious. Here are the essential documents you must prepare before closing on your dream home.

List of Documents to check before buying a flat:

Agreement To Sell:

An agreement between the buyer and seller is contained in this priority document under the guise of you buying the seller's home. Without a doubt, this is the first document that the buyer and seller must sign.
Before buying the residence, it outlines the final terms and conditions between the two parties. As a primary legal contract, once the parties signed and agreed to the terms and conditions contained therein, the agreement became legally binding upon them. Any breach of the conditions outlined in the agreement will result in varying degrees of punishment depending on the crime committed.

Sale Deeds And Title Deeds:

After signing the buyer and seller agreement, the Absolute Sale Deed and Title Deed, both of which represent an absolute transfer of ownership, must be obtained. Apart from the terms and conditions stated in the preceding document, these deeds contain the absolute and actual transfer of ownership from one person to the next. It is registered at the sub registrar's office, which has binding jurisdiction over the property. Any disputes that arise during this stage of the transfer will be handled by the sub-registrar.

Title Search and Report:

A title search and report is a necessary legal document before purchasing a home. This document includes a property title search as well as a sketched-out history of the building and the surrounding area. This house's historical evolution gives the buyer a better idea of where they will be living.

If any serious incidents occurred in the plot previously, the buyer can choose whether or not to proceed with the purchase. This report includes a description of the property as well as the names of the titleholders or joint tenancies if any exist. This document is also required to obtain a home loan from a bank.

Khata Certificate:

This document is referred to differently in different states, but it proves that the property has been recorded with a local municipality. It is also required if you intend to transfer ownership in the future. It is an official document that proves the property was recorded in the local municipal records and that the construction was completed in accordance with the approved plans. This document is required to obtain a home loan from a bank.

Receipt of Property Tax:

Another supporting piece of documentation for buying a house is the receipt of property taxes. This document offers evidence of the property's establishment and legal standing. The property's legal status, however, cannot be established until the former owner or occupant has fully paid all taxes and there are no outstanding balances. This document attests to this assertion, establishing the property's legitimacy so that the subsequent buyer may occupy it.

Encumbrance Certificate:

Certificates of encumbrance attest to a piece of property's freedom from debt or encumbrance. Banks need this documentation in order to grant a loan secured by property. It includes all the details of the property's transactions.

Non-Objection Certificate:

A second certificate that is as significant to the others, the non-objection certificate, is an "Intimation of Disapproval for the Construction of the Building." The developer is required by law to provide this document, which lists NOCs from agencies like the Sewage Board, Pollution Board, Environment Department, and Traffic and Control Department.

Power Of Attorney/s if Any:

Only when someone acts as the property's authorizing head is this document necessary to obtain. If a pre-existing power of attorney is found on the site, building work may be stopped or reversed if such a document is not obtained.

Conclusion:

Following these steps and obtaining all of the documents listed above as needed, you can expect to gain complete ownership of the property. Aside from the points mentioned here, you will also need to consider the property Consultant Delhi for the registration of fees and stamp duty of your property.

Purchasing a home and registering it with the appropriate authorities can appear daunting. We have simplified the process of buying your property in India and explained the fundamentals of real estate laws in this blog.