IDENTIFICATION OF PROPERTY. Review on Tips on Buying Property

DON'T FORGET TO RATE THIS REVIEW FOR OTHERS TO BENEFIT… I got to know a lot of things while trying to buy my "HOME SWEET HOME", and thus I am sharing the same for your use. While locating a property, one needs to be clear whether the property is for investment or for actual use. This is so because if the unit is for actual use, then one has to consider whether that area has sufficient infrastructure(i.e. access roads, power, water supply, shopping areas, hospitals, bus stations, recreational facilities, etc.) to efficiently support that sectorial population.

Identifying a property has many a times been perceived as a major problem by many people. The wide range of properties that is offered with various attractive offers made to lure customers often misleads and confuses many people. When one sets out to identify a property one is obviously on the lookout for a reliable developer.

While assessing the reliability of a particular developer one should check the following: Details & visits to his past projects. If possible one should try and get information from the occupants in his previous projects where inquiries regarding timely possession, quality of construction, compliance with the agreement, providing the amenities mentioned, etc. could be made. For this purpose one could also get information from the financial institutions/ banks that the developer has had dealings with. Thus one can get a fair idea of his financials too.

Real Estate Agents could also be an alternative for identifying a property. However, caution needs to be exercised when it comes to selecting an agent. In case of a resale property after the budget is ascertained, one could approach a reliable real estate agent or look for a property through the newspapers. While identifying a property one should ensure that the building is technically sound and the title documents mentioned further in this guide are clear and marketable Please tell me, should you need detailed information about any of the undermentioned topics: • BUDGETING • VALUATION • LEGALITIES • PROCEDURE OF PURCHASE • TECHNICAL ASPECTS PERTAINING TO CONSTRUCTION • POSSESSION • FAQs