Buying a flat is one of the most important decisions of your life, and also it is challenging. Choose the right builder to assess the property, a variety of tasks have to be done before anything is finalized. When buying a flat, the buyer has a number of questions from the builder. It is crucial to ask your builder about several things before you purchase it.
Few tips to consider before buying a flat
To simplify things, here we have enrolled a few questions that everyone must ask from the builder before buying a flat:
1. Investigating about property status
Before buying an apartment, you must ask whether or not the property is legally trouble-free. The best way to ensure the property is trouble-free is that the builder should purchase the property from the property holder and then begin construction. Usually, the small and local builders enter into a joint development agreement with the property owner.
There are several legal loopholes in this process, which are usually unintentional. Ask for documents that include a Certificate of commencement and Intimation of Disapproval. If the land is still under development, you can ask for the project plan and the approval of the drawings.
2. Verify the actual property price
First, determine your budget and look in that price range for a land. Because of their location and facilities, a property earns a certain amount. Compare this with surrounding areas and properties when the developer sets a price for the apartment. Details on property prices can be accessed from newspaper advertisements, property website listings, and region-operating brokers.
The property’s actual price includes the costs of utilities like parking places, the supply of water, electricity, and several other taxes. It can also include any legal and registration costs. When the property is in possession, builders add additional charges for each of these services most of the time.
3. Agreement of Builder-Buyer
Once a buyer books a flat by paying a token fee, you will get a letter of allotment. After that, one has to enter into three parties deal with the builder and the lending bank for the balance amount. At this point, the builder-buyer contract is to be signed. This agreement is mostly biased to the developer’s favor, and it is in the buyer’s interest to read this document and understand the provisions.
4. Ask about a sample flat
You can also request a sample flat or property from the builder to show you. This will help you to get an idea of how your property or flat looks like. You may also test the construction quality. You can have a look at Marina one residences show flat to get a better hold of how the house looks like.
6. Property taxes
It is very crucialthat the property tax for the land is to be paid regularly to the departments of the corporation. The payment should be revised, and the owner must also provide you with a receipt of the latest tax payments.
7. Functionality & specifications
The building facilities are functionality, and the specifications are related to the facilities and services which are offered in the flat. Every Builder provides a host of functions and specifications to tempt buyers. In this case, the essential part is to understand the features & specifications are of real use and which are not.
You must have a clear idea about your wishlist. As a customer, you must have completely clear about services or specifications that we are ready to compromise on and which we are not ready to compromise for. Priorities need to be defined clearly, and you should attach to them before decision-making.
Investing in property is one of the most major and crucial decisions. This procedure is very difficult and enticing. You need toensure that you don’t get confused and make any wrong decision. If you’re thinking about buying a flat you must have to be satisfied that the land is legally trouble-free and also check the verification of property price. Here we have explained about the various tips which will be very helpful to keep in mind before buying a flat. You must have to make careful decision before buying a flat, and your priorities need to be defined clearly and you should attach to them before decision-making.
Do consider Marinaonesresidences, if you are a first time home buyer.