OK, Now that you have finalised on the property that you want to go ahead and purchase, because it has matched your wish list in terms of location, layout, neighbourhood, amenities etc., it is also very important to check the property documents. Usually documents are given by the seller for verification after the token amount is paid.
Document Verification is a must to avoid unnecessary legal hassles and sleepless nights later. Insist of verifying the original documents and not the photocopies. It is advisable to hire a good lawyer and get the documents reviewed.
The laws governing the sale of property might be slightly different in different states, but there are a few common documents a seller must have if they are selling flats.
- Title Deed / Sale Deed in the present Owner’s Name
- Earlier sale deeds/sale documents if the case is of reselling.
- Share Certificate of the society.
- Bills such as of electricity, telephone etc. Latest Tax Paid receipts
- If any loan outstanding on the property, latest statement from bank
- Flat’s measurements/survey report.
- NOC from the society stating that the flat is not having any pending dues or liabilities to the society.
- Occupation Certificate of the Building.
Public notice in the newspaper on buying property in Mumbai is highly suggested. It could be one in English language and one in local language. This notice is to safeguards a buyer’s interest in case you find any problem over the purchased property.
Lifestyle Property Consultants