Important Documents to Check Before Buying a Flat

Before buying a flat, it is important to check certain documents. A legal contract is one of the documents that buyers must check for. This contract states the conditions and terms of the transaction. It also contains clauses that specify the responsibilities of the owner and builder. The agreement is essential in the case of lapses, so the buyer must keep it safe. It is also important for the buyer to be aware of any stipulations and unfavorable conditions that may arise after purchasing the flat.

Another document that is crucial to check for before buying a flat is the possession letter. This document is issued by the developer after the construction of the flat is completed. It is very important for the home buyer to get this document before occupying the property, as failure to obtain it may lead to eviction or penalty. The possession letter is another essential document to check before buying a flat. The sale deed is another important document to look for. It contains information about the seller and the buyer, which is required for the purchase of the flat.

The allotment letter is also an important document to check for. This document is vital if you are booking an under-construction property. The letter will include the details of the payments made and the extra fees paid for additional amenities. This document is also necessary when applying for a bank loan. The buyer should ensure that the building has received all approvals from the government and is not in default. When checking the allotment letter, it is also important to check for design details.

If the seller does not provide the original title deed, the buyer should insist on it. Otherwise, the buyer should refrain from making the purchase. The original title deed may have been used to sell the property or raise a loan for the purchase. The buyer should also check for any encumbrances that are on the property. If there are any, the buyer should seek advice from an attorney before buying the flat.

When buying a flat, the developer will be required to provide the following documents. The developer must provide no objection certificates from lenders and must submit a commencement certificate and occupation certificate from the relevant Real Estate Regulatory Authority. In addition to the no-objection certificate, the buyer must check the existence of a valid occupation certificate for the flat. It is also important to check the date of possession. Grihapravesh is another important document for the buyer.

Another important document is the encumbrance certificate. The encumbrance certificate is required to verify if the property is free of encumbrances. This document is essential to buy a flat in India as it outlines the history of the property. It is also essential to ensure that the building has been constructed according to the approved plan. If there is any dispute on the title, the certificate is important.

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