What Documents To Check To Avoid Fraud When buying house/property?

Buying a dream home is an investment for the lifetime. But, the experience can become nightmarish when you are not careful. Buyers wish to buy a property which is easy to move in and ready to use. No one wants to wait for years when the home is already completed. Paperwork is extremely important when it comes to buying a home. Many times the builders do not deliver what was promised by him. Most of the new home projects have a clubhouse and swimming pool, but at the later stage such facilities vanish. If any of such events take place, you can easily file Complaint Against Builder In Ahmedabad. But before you need to take any such step, it is always beneficial to proceed with caution.

Hiring a good lawyer prior to buying the home 

If you do not have much idea about the paperwork, it is recommended that you get in touch with a lawyer. He will provide you the list of documents and papers that may be presented to the seller. The seller can check them and give you a written opinion that the documents are perfect. With the help of a lawyer the entire buying experience can become enjoyable. Buying real estate may be extremely complex and if you are not aware of the rules, get in touch with a reliable and experienced lawyer.

Sale Deed: the core document 

A sale deed acts as the proof of property sale and the transfer of ownership. The core document passes from a seller to the buyer of the property. Before executing the sale deed, it is important to execute the sales agreement and check whether it complies with the terms and conditions or not. The property must bear a clear title prior to execution and the seller must settle statutory payments.

Mother deed: must to consider 

It is also called the parent document which traces antecedent ownership or the origin of the property right from the start. The document facilitates the sale and even establishes a new owner. If there is no Mother Deed, certified copy must be attained from the registering authority. 

The building approval plan 

It is mainly BDA which sanctions building approval plan. Without the approval from BDA, BBMP, BMRDA, BIAPPA, the construction of the building will be considered to be illegal. The building approval plan is sanctioned from jurisdictional commissioner based on the floor plan, the zonal classification, FAR or floor area ratio and the plot depth. To attain the approval, the owner needs to submit documents to the jurisdiction.

Commencement Certificate

This is again an important document which the buyer needs to look. This document states that the project meets all the set criteria. The construction can start only with this certificate.

Checking the encumbrance certificate 

This certificate states the charges involved in the ownership of the property and the liabilities. It will comprise of all the registered transactions that were done on the property.

Power of Attorney or POA 

With the Power of Attorney the owner of the property gives the power of owning the property to the buyer. POA transfers the right to someone else.

Completion Certificate 

This is issued by Municipal Corporation to denote that the building is made in compliance with the rules and terms. In other words, the building is constructed as per the plans.

The need for checking Occupancy Certificate 

After the construction is over, this certificate is attained only when the place meets all the norms. It certifies that the property is ready to be occupied.

Apart from checking the above documents, you must also read up the Review About Builder And Project to ensure that the builder is not a cheat. However, there is also the provision for filing Complaint Against Builder In Ahmedabad. 

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Tips for Selling your House Fast and at the Best Possible Price

For the past few years, the real estate market has taken a back seat and seems to be sluggish. Prices seem to fall and sales have taken a plunge. Thus, selling a home is not that easy. If you wish to close the deal fast, it will be more challenging. Price is the chief attraction for buyers and thus you need to price the property correctly. Incorrect pricing will bring losses. If the property is overpriced, there will be no buyer and if under priced, your home will sell at a cheaper price rate. Get in touch with a professional for the correct valuation.

When selling your selling fast, view everything from a buyer’s point of view. Visit the several houses for sale in your neighborhood and try to learn where your property lacks. Evaluate the property on the basis of design, connectivity, infrastructure and also the size. To attract buyers within the shortest span of time, you have to keep the prices lower.

Getting the price data from property sites

As already stated, correct valuation of the property is must. There are several property websites providing the price analysis for specific areas. If you want, you can also visit local brokers as the professionals know the price trends. Also, it's vital to develop the trending property prices in the area where you want to sell your property. For example, if you want to sell your property in Ahmadabad, you should look for the prices charged by the builders and Feedback about Builders in Ahmadabad, so that you can evaluate the ideal price of your property.

Carry out the necessary repairs

It is said that first impression is always the last impression. When the prospective buyer sets his feet on your property, he must not find any flaws and your property must appear worth considering. To create a good impression on the buyer, you may paint your home freshly. Carry out minor repairs like fix up broken windows, leaking faucets, chipping plaster. The home must appear well organized, clean and neat. So, by improving the curb appeal and creating a great impression on the prospective buyer is the outstanding way to sell off the property fast.

The need for home remodeling

When you do a home remodeling, consider the ROI or return on investment which is generally lesser than 100%. Although remodeling will add value to the property, but you cannot say that the value of the property will increase by the same amount you spent on remodeling. So, avoid taking major remodels. At the end, what matters is the neighborhood, the location when it comes to pricing.

Select a reliable broker

If you lack time to show your property to prospective buyers, you can consider taking professional help from a reliable broker. You can save a lot of effort, time and money in this way. The broker can arrange a buyer for you in the shortest period of time. He will also carry out the negotiation on your behalf and the necessary paperwork. But then, do a background check on the broker prior to hiring any.

Effective advertisement: a must to consider     
        

When you propose to sell the property, let your friends, neighborhood and family know about it. Make use of social media to gain a buyer. Take advantage of online portal and property listing websites. Post attractive photos of your property on the sites to attract the buyers. Post correct information about the property and stay honest.

Keep your paperwork handy

All the necessary paperwork relating to the sales must be kept handy. Make sure there is no delay in the paperwork if you wish to sell off the property speedily. Your deal will close faster in this manner. Documents like sale document, your proof of prior purchases, tax receipts and receipts on major installations in the home must be handy. They need to be produced at the time of closing.

If you wish to sell the property fast, avail professional services of real estate broker. On the other hand, if you want to buy a property, get in touch with a reliable builder after reading Review about Real Estate Builders or Real Estate Project Review

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7 Things To Consider Before Selling Your Own Home

Selling your own home can be tough if you are not aware of the main principles. Making a plan to sell the home in advance and starting early can save a lot of headache and stress. When one looks forward to sell his/her own home, the first thought coming to the mind is marketing the property. So, the seller plants ‘well furnished home for sale’ sign on the lawn to gain attention. This is not the right approach as you need a professional to market your plot or property. Besides, it is important to know the factors you have to be careful about while selling your home.

Selling your own home gives a lot of financial benefits, but you need to invest time and effort, especially, if you are planning to sell your home in metropolitan cities such as Mumbai. Its vital to seek an online Feedback about Builders in Mumbai, about the brokers and major property firms to develop right understanding of the real estate sector in the area. Those who do things hurriedly, they miss out on attractive deals. If you do not have time for receiving those phone calls from the agents and prospective buyers and display the home perfectly, get it inspected, you will get less from the sales. Thus, it is crucial to be patient. Here in the section you will find tips to selling your home successfully.

Gain adequate exposure

It is mandatory to get in touch with an established real estate broker having the network that reaching far beyond the town and city you are located in. He will have contacts with qualified buyers, both nationally and internationally. His network will be budgeted and managed pretty well. A broker can also pay for the cost of advertisement.

Getting a pre-inspection done

When you decide to sell off your property, make sure you get the pre-inspection of the property. If you avoid this, the problems in the home can make it difficult to sell off the property and also delay the process. After the professional highlights the issues, get all the repair work done.

Know the market direction and your property value

Since the real estate market is dynamic where the prices keep on moving, it is important to keep a track over the market and gauge its direction. As per the direction of the market, you need to access the value of your property. This way, your property will sell at a fair price. The people who are Cheated by Builder often prefer to buy houses from individuals who are selling their own property. Using online websites and social networking sites, you can look for such people interested in purchasing property.

Assessing competition in the market

You need to know the price and the valuation of the property, similar to yours, in the neighborhood. Identify all the properties nearby that are similar to yours. Take note of the sale price, list price and features like number of bedrooms and other conveniences. You should list your prices accordingly.

Do you have the ability to negotiate?

If you want to sell your own property, you need to consider whether you possess the negotiating ability or not. Can you do without the help of a seasoned broker? Well, if you can negotiate and get a fair price for the property, move ahead.

You may have to pay the broker’s commission of 3%

It may happen that you are not taking any help from a real estate broker to save on commission, but the buyer may be assisted by the broker. So, in a way, you are again liable to pay his broker’s 3% commission.

Can you handle the legal issues?

Home selling involves contracts and closings. Until and unless you are a lawyer, you should not handle the legal aspects. It is only an expert who can understand the contract or may steer the entire process to a legally sound conclusion.

Apart from the above mentioned factors, you also need to consider whether you have time or not. If you make the commitment of selling your own property, you need to do things correctly. Although a seller can save money on the agent’s commission, an agent can arrange a lot many buyers willing to pay a good amount for the piece. 

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Is Your Property Broker Cheating You?

The main job of the property broker is to let his clients buy and sell homes. Hiring the perfect property broker can help a lot. Whether you are buying a home or selling a property, it will be difficult to find an honest broker. In fact, nearly 50% of the property brokers are cheats and wish to milk out commission from the people. A good agent will have the right skills, the ability to listen to your needs and help you to enter a profitable deal. But, if the broker is a cheat, things might be very difficult.

 Property Broker

Both buyers and sellers have to approach a broker for making the transaction. He can also let you arrive at the best builder who is known for timely delivery of projects and the one who uses the right materials. A broker can also help you file Complaint Against Builder in Mumbai if he is a cheat. Before you take help from a broker to arrive at the right builder, you should read Review about Builder Project and know his past works.

A good property broker can make the entire thing smooth while a cheating broker can complicate the process. There are some tell tale signs to suggest that your broker is cheating you. Just read up the following section to know them.

Shady broker sells your home at a cheaper rate

In the real estate industry, there are plenty of good real estate brokers, but as every industry has its share of cheat practitioners, the real estate agency is not spared either. You should know that people with charming faces and those who appear fresh may be most crooked. If the realtor is shady and cheat, he will want to sell your property at cheaper rate. There is a common misconception that you and the realtor want to sell the property at a higher price. Although the realtor gets more commission for selling the property at a high price, still he will like to close the deal fast. Every broker wants to close the dealing at a faster pace. Speed is the key to getting the commission faster. More the time consumed in selling the property, more will be the advertisement he has to do. The property broker will have to bear more inspections.

The realtor reduces the selling price

When it is the first week, the broker seems very impressed by the piece of property and quotes it higher. In the next few weeks he starts complaining that the buyers do not like certain factors of the property. As the time passes, the value of your property touches bottom line, according to the property broker. However, this is an obvious sign of a cheating broker. Actually the prospective buyers did not complain about the property, but it is the broker who wants to sell your property at a lower rate. This is so, because he wants to get commission from you and the buyers for selling at a lower price.

Hooking up the buyer

A lot many brokers say that they quote the property at a cheaper rate to gain the attention of the buyer and later on wishes to negotiate. If your broker says this to you, it implies he is a cheat. He is actually tied up to the buyer to gain a commission.

Clinching the deal and selling off at minimum rate

So, finally, when the bidding day arrives, you get an offer for the home. Much to your dismay, the agent presents to you a very low offer bid, saying that the property was not tested in the marketplace or the exact value was not judged.

To avoid arriving at a cheat property broker, you can follow the tips for choosing a reliable broker like checking out his experience level, getting in touch with his past clients and taking recommendations.

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15 Things You Should Know Before Buying A House

If you want to buy a home, you will feel stressed out and anxious. Well, the entire real estate market seems to be in trouble and so you have to be more careful. To get the maximum value for your money, you need to know 15 important tips to buying a new home. Before that, get in touch with a reliable builder so that you need not file a Cheating Case Against Builder in the later stage.

Weigh your pros and cons before buying a home

Buying a home is not the matter of few cents or dollars, but it will cost you thousands and thousands of dollars. You need to first decide whether you want to rent the home or buy a home. Weigh your pros and cons before you set to find a builder to build your home.

Getting pre-approved for the home loan

When it comes to getting a pre-approval for the loan, it is far more different from getting pre-qualified for the loan.  If you are pre-approved for the loan, it implies that the lender has perused through your finances and knows how much to lend. Thus, getting a pre-approval will save you time since you can decide on the budget accordingly and make your searches. You can thus shop around for an attractive deal and avail a best interest rate.

Get your property surveyed to avoid the border dispute

It is absolutely essential for anyone to get his/her property surveyed prior to buying. This way, one can come to know the exact measurement of the property. Once you know what you are buying, there will be no border dispute and in fact the property tax is also reliant on it.

Avoid anticipating the market

There is no need to time your home purchases and anticipate the market. It is impossible to time the property or housing market. The real estate market is extremely unpredictable and if you time your purchases, you may miss out on a perfect time.

Bigger home is not better

You may get attracted to bigger homes, but big is not always better. Larger houses appeal to only few audiences and so when you go off to re-sell the home, you may not have too many buyers. Smaller houses trade well nowadays.

Do not ignore the sleeper cost

Sleeper cost is the difference between owning a home and renting a home. There are many people who simply focus on the mortgage cost and ignore other expenses like homeowner association expenses, utility bills and property taxes. You need to budget your home after considering the sleeper cost and additional expenses.

Say ‘No’ to impulsive and emotional shopping

Buying a home is a major investment and so there is no room for emotions. To get a great house, go with your instincts and not by emotions.

Get your home inspected

Before you make purchases and complete the payment, get a home inspection. A home inspector can find the underlying issues in the home. If there are issues, you can bargain over the price with the owner.

Go for bidding

The seller will offer his price, but it is important for a buyer to present his price as well. Your bid price must be based on the amount you can afford and the property’s worth according to you. Sellers will respect your price offer.

Get to know about the neighborhood

Drive by the houses located nearby and get to know your neighborhood. Enquire about the place to know about the people.

Look for residence which is priced lower

Try and look for a home which is priced 15-20% lower than its market value.

Buy the home you can afford

Buy a home which is appropriate for you. Check out the rates and the payment you have to make.

Stay organized in your finances

Organize your finances to determine your budget. It's vital to understand that how much you can spend, so, that you check the houses that ideally fit in your budget.

Get in touch with a reliable builder

A broker can be quite helpful in presenting the properties which meet your requirements, in terms of location, budget and space.

Go through the terms and conditions

Before signing the dotted lines, make sure you read the contract. There must be a provision stating that you can File Cheating Case Against Builder or File Complaint Against Builder in Ahmedabad in case he cheats you.

By following the aforementioned tips you would be able to buy the home of your dreams.

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10 Tips For First-Time Home Buyers in India

Easy availability of cash money, economic growth coupled with healthy disposable income makes the young Indians to consider real estate investment. P Chidambaram, at the budget of 2013, raised tax deductions up to 1 lakh for the new buyers. This has greatly promoted the housing sector.

As per the recent survey conducted by the real estate industry, the average age of first time home buyers in India has reduced from 39 to 30. So, if you are a first time home buyer, you need to consider important tips. While the socioeconomic status, the age and profile of the home buyers is changing, what is not changing is the trepidation and hesitation that comes with taking such a huge investment decision.

However, it is great to know that a buyer is free to file a Complaint about Builder in India, if the project is not completed timely. Check out the home buying tips below.

Financial planning is the foremost

Before you make any investment decision, you need to plan out your finances. Try to review the current financial obligation like life insurance, student loan and any other commitment in order to get the true picture of monthly income. The budget for purchasing a property is based on the money which you may afford for home loan EMI. Apart from money reserved for EMI, you also need to have a saving account to cater necessary expenses. There must be money for parking charges, medical expenses and sundry expenses.

Assessing the Future needs and Objectives 

When you plan to invest in a home, you need to assess present needs along with the future needs. Some individuals just want to buy a property for the family members while others wish for capital appreciation of the long term investment. So, when you make an investment, try to assess your objectives.

Know about the Interest Rates 

If you are a first time buyer, you will be confused between floating interest rate and a fixed interest rate. Those who want a complete peace of mind, they can choose a fixed interest rate since the rate of interest remains constant and same throughout the tenure. But then, if you are interested in floating interest rate, evaluate the market along with the current economic situation. Get in touch with your financial adviser to know the kind of interest to choose. In fact, you can also choose the mixture of fixed and floating interest rate.

Improve your credit score 

If you want to avail loan at lower interest rate, you need to improve your CIBIL score. CIBIL score plays a very crucial role in the application process. The moment you fill up the forms, the lender checks your credit report and the credit score. Your loan will be improved if credit score is good.

Shop around for Loan 

To get a loan suitable for your situation, you need to shop for the loans by checking various lenders and compare the rate of interest. Compare loans and negotiate with the banks.

Getting a Pre-loan

Pre-approved home loan refers that the bank has carried out its due-diligence check on the credit report and has confirmed virtually to the loan. The purchaser gets the idea about his budget and thus he can proceed confidently towards the purchases.

Get to know about the Locations 

Before making an investment, know about the locations that are experiencing growth. It must have a good connectivity and must be in close proximity to shopping malls, airport, railway stations, etc.

Evaluate the Credibility of the Builder 

Check out the past projects of the developer and judge the credibility. The quality of construction and the value of his rate of appreciation need to be found. Get in touch with the past clients and avail Feedbacks about builders prior to choosing any. To save yourself from posting Complaint about Builder in India, this is a necessary step.

Payment Option 

Before signing the dotted lines, inquire about the payment options. Check out whether the builder offers construction liked payment, time linked payment or cash and cheque payment.

Verifying all the Documents

Go through all the legal documents involved with the property sale and purchase. It is always better to get in touch with a real estate agent to make sure everything is smooth.

As the first time buyer, you will benefit a lot from the above tips. For the home buyers, it is necessary to read the Feedbacks about Builders and then make a choice.

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5 Key Property Investment Do's and Don'ts in India

The Indian housing market seems to be tan all time low and so there cannot be a better time for the buyer to make a purchase. The reducing price rate of commercial and residential properties in India makes the home buyers consider purchasing rather than renting a property. Those who want to amass more property and add to their portfolio, they are getting more attracted towards real estate investments.

Seasoned investors are very well aware that investing on a property will bring forth maximum returns. If you are a new investor, you need to consider various key points and adhere to the investment tips. In case, the world of investment seems complicated, consider the do’s and don’t tips stated below.

Some Do’s That Investors Must Consider

• Get all your personal finances in order prior to getting in touch with the builder. Analyse your finances to find if you can afford the cost of property or not. Do not exceed your budget since that will give you financially tough times. 

• Get approved for the loan virtually. Pre-approved or pre-qualified loan will help you determine your budget. So, accordingly you can make property searches.

• Check out the current market trends and make researches on the area where you wish to buy a property. Peruse through the recent sales along with the rates to find comparatively similar homes.

• Do make sure you get in touch with a legal counsel or a competent agent to assist you with the paperwork. The terms and conditions must be favourable to you.

• Make sure you choose the property which seems sound as per your financial status. But then, also be prepared for the risks.

Inspect the property minutely to ensure that no repair is needed.Get in touch with a reliable and reputed builder to make sure that you do not need to file a Complaint Against Builder in India. If the builder is good, there will be no cheating case and timely delivery of the project.

Some Don’ts That Investors Must Consider 

• Before making an investment, do not forget to write your investment goals. Calculate the budget you can afford and evaluate your risks.

• Do not commit the mistake of rushing for a deal that sounds too good to be true. If the investment opportunity seems too attractive, take a deep breath and find out what you are not seeing. Treat your deal as a business transaction.

• Do not shop for the home under an emotional state. Getting invested emotionally is a strict ‘no’. You can walk away from the deal if you sense something fishy.

• Do not just lay your confidence on the documentations presented by a seller. There must be some independent consultant to verify the title clearance, home inspection and the valuation.

• Do not forget to hire a real estate agent to verify all the details. A builder can be a cheat also. Only a real estate agent who can help you to file a Cheating Case Against Builder in case he cheats you. 

Do not rush to make purchases. If you are in a hurry, you make a poor buying decision. Take your time and then enter into a deal. Do not buy a property without visiting it several times. Before laying your confidence on any property, visit the neighborhood and carry out researches on demographics.

After being cautious and following all the Do's and Don'ts, still if the builder cheats, you can lodge a Complaint Against Builder in India. The builder is supposed to use quality construction materials and complete the project on time. If he fails to do so, you are free to file a Cheating Case Against Builder. 

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