Buying a property is a big decision. To avoid future problems, make sure you check everything properly before making the purchase. Here’s a simple checklist to help you:
đź“„ Document Verification
- Title Deed – Confirm the seller actually owns the property and that the title is genuine.
- Sale Agreement – Carefully read the agreement. It should clearly mention price, payment terms, and possession date.
- Property Registration – Check that the property is legally registered through sale deed, gift deed, or a will.
- Encumbrance Certificate – Make sure the property is free from any loans or legal dues.
🏠Property Inspection
- Site Visit – Visit the property to check for cracks, damage, or any other issues.
- Boundary Check – Ensure the property size and boundaries match what’s mentioned in the documents.
- Building Strength – Verify the structural quality of the building.
⚖️ Legal Compliance
- Local Approvals – Check that the property has proper building plan approvals and follows zoning rules.
- Tax Status – Ensure there are no unpaid property taxes or legal tax disputes.
- Environmental Clearance – For large or special properties, check if environmental approvals are in place.
đź’° Financial Checks
- Loans or Mortgages – Ensure there are no unpaid home loans on the property.
- Past Payments – Review past bills for electricity, water, and taxes.
- Maintenance Dues – Check if any maintenance fees are pending with the society or apartment management.
🔍 Other Important Checks
- Location & Neighborhood – Look for safety, nearby facilities like schools, hospitals, and future growth.
- Upcoming Projects – See if any new roads, metros, or commercial projects are planned nearby.
- Insurance – Check if the property is insured or if you need to get one.
âś… Conclusion
Doing proper due diligence protects you from legal and financial troubles later. Use this checklist to make a smart and safe property purchase!