May 22, 2014

Property Booking Guide

booking


One of the most popular ways of purchasing a property is to look for it everywhere. This kind of method is usually limited when it comes to the office space, apartments or the houses in the gated communities that are usually booked before their construction is being started. Usually, the property is secured by the buyers by making a down payment and then making monthly installments for funding the construction.

Though this method seems like an ideal and a total straightforward method, but it only works out when the builder or the developer follows the construction regulations and avoids all kind of violations while working of the property is in progress and also fulfills all the legal obligations of that property.

Precautions:

Here are some precautions that must be kept in mind by the people before signing any kind of the dotted lines:

  • It is always advisable to book the properties only with those developers and the builders with good repute in the markets. They must check up on the previous or on all the ongoing projects for assessing to the quality of the work that includes planning, construction, developing, etc.
  • It is usually not recommended to buy any kind of property in those projects that have been re launched after the property has been stalled. It is more like that the builder tries to recover his losses that have been incurred due to some kind of delay and does not intend to complete the required projects.
  • Before making any kind of investment in the property, the reconnaissance of the property must be done in the specified area as well as the prices must be compared along with the qualities and the facilities that are offered for ensuring that the best deal is offered.
  • The steer clear of the projects that usually seems too good to be true such as those that offers property below the prevailing market price. They all turn out to be the fraudulent schemes at most of the times.
  • Before signing on the dotted line, the purchaser must ask the builder of the concerned authorities for the copy of the issued NOC.
  • They should also find out about the hidden clauses as well as about the additional payments that are usually required such as the late payment surcharges as well as all the hidden charges that may possibly crop up after all the initial payments.
  • All the legal documents must be read carefully an thoroughly along with all the terms and the conditions and it is really very good to have them vetted by a legal professional understand all kind of ambiguous statements.

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