7 Best tips for first-time home buyers – Buying home for any person is the most important thing in life. You have decided to buy a property with all the accumulated capital, huge debt and big ambitions, so you have to be careful.
conscientiousness in checking property documents can save your loss in a minute.
There is a lot of fraud involved in real estate like does not occur owner name in the property. There are many such problems. Therefore, it is necessary to check these documents when buying house.
7 Best tips for first-time home buyers
Table of Contents
#1 Zone Certificates
You need to check the zone certificate of location where you are going to buy the N/A plot.
What is the location of land in the zone certificate? There is information about it.
The zoning certificate is a document that states the area of the entire survey number or group number. Note that if the zone certificate is not for a particular plot, then the whole survey number comes to mind.
Example. If a survey number is affected by a 24 meter road, then there is an agriculture section on one side of the road and a residential section on the other side. The road
But not just the exact zone of your plot. To know the exact area of the plot you need to take the zoning demarcation in which the authority will mark the zone color code on your counting certificate copy.
This is a specific survey number of documents through which anyone can know about the reservation mentioned in the DP.
The zoning certificate shows the area of land such as residential, industrial commerce, agriculture and other details of land such as aquifers and floodplains.
How to download zone certificate ?
You can’t download zone certificate. Basically, there is a process of zoning certification process in any city or any place. Respected Planning Authority may issue zone certificate.
PMRDM has online process for zoning certificate. We receive the certificate within 7/8 working days from the date of application.
Zone Certificate Fee
To get the zone certificate, a legal fee of Rs. 500 has to be paid to the government. Other fees such as consultant fees and the cost of taking 7/12 are independent.
#2 Plan sanctioned
Certificate of approval plan from the local government i.e. Nagarpalika or Gram Panchayat at the place where you are in charge of purchasing the plot.
Understands that construction is permitted in this certificate. Suppose if you take the plot is on the 10th floor and the plan is sanctioned 9th floor.
At such times you may get in trouble.
For this, it is necessary to see the plan sanction.
#3 Commentment Certificates
A certificate of commencement from the concerned authority allowing the builder to start construction of the property (after ensuring that all the criteria are met) is called the commencement certificate.
Normally a certificate of commencement is issued by the local authorities.
It is mandatory to have a certificate to be able to start any construction of the property. Once the permits, permits and permits required for the map are obtained, the builder must lay the foundation of the superstructure and build the boundary.
Village sample number seven and village sample number twelve are combined and the information is given in the form of Satabara.The reason is the transcript between village pattern seven(7) and twelve(12).
‘Gaon Namuna 7’ is the authority sheet and ‘Gaav Namuna 12’ is the crop inspection sheet. These ‘village samples’ are available at each village talatha for land and revenue management.
In such cases, family members must obtain a certificate of succession. This verifies the legal heir.
Inheritance law gives the deceased the right to inherit movable and immovable property.
These include bank balances, fixed deposits, shares, mutual funds, investments, etc.
Also Checked it Power of Authority, in whose name is the agreement?
Non-agricultural land is barren land and it is not suitable for cultivation.
If you want to build any structure, it is mandatory to convert agricultural land into non-agricultural land, otherwise the law does not allow you to build any building on such land.
#4 Search Report
The title certificate states whether the property is restricted and has a clear salable title.
This search report and title certificate can be obtained from one’s own attorneys, or if the search has already been conducted by the current owner, one’s attorney can examine the report to find the title of the property.
A title to the title of the property can also be made by visiting the office of the Registrar.
Any charges or difficulties arising out of the assets and their current status can be found in the report – i.e. if the charges have been met and the property has been vacated or some charges remain.
This search on property titles has been conducted for a period of the last 30 years.
The developer is obliged to attach a copy of the report in the ‘Agreement of Sale’ with the intended buyer.
This will be mentioned in the document if there is an existing mortgage, suit, condition or claim, which is likely to adversely affect the buyer’s title.
Similarly, the bank is also guaranteed the tile of the property.
Banks usually do not finance an occupied property or someone in legal dispute because it reduces its security and increases its risk.
To get a housing loan, a prerequisite is that the title of the property should be clear and salable.
A clear and marketable title means that the seller must be genuine and the real owner of the property.
Further, the property should not be subject to any dispute or lawsuit.The search report finds this history of the property.
In most cases, the lending bank has its own lawyer who specializes in this exercise.
Usually, this price is nominal and is generated bank processing and administration fees for loan approval and disbursement.
This report serves as the security of property purchase.
The report reassures the buyer that the title of the property he plans to purchase is well-titled and that he will not have any difficulty at a later stage due to some previous charges or difficulty or legal dispute over the property.
The search report gives the buyer confidence that he is dealing with an authentic party.
#5 APF Certificate
Home buyers are required to check the approved Project Financial (APF) number of the project before investing in the property.Buyers can refer to this number for faster approval of home loan.
Most home buyers are unaware that the project must have a valid APF number or code
The APF number / code indicates that the project has received all the necessary approvals and home loans can invest in the project without any fear of the developer’s credibility.
Most developers have agreements with banks or housing finance corporations (HFCs) that offer home loans to customers.
#6 Registration graph
Finding a place to build a lifelong home is a unique process accepted by every family. Finding the perfect ground suggests that it fits your features and your budget.
Sometimes the process can be complicated due to lack of proper information or advice to choose the most convenient option.
Also, you must consider all legal terms to avoid future disputes.Are you thinking of buying a land or a plot?
The whole process of buying a property and registration process can be learned from the following.
Changing the ownership of a plot transaction and other legal changes refers to the recording of all documents.
When purchasing land, you must record all the documents that help guarantee the legal ownership of your property.
Land registration protects you from future disputes and fraud and helps you keep up-to-date public records.
However, land registration procedures and fees may vary from state to state.
In this process, the transaction is done in a verbal process by the seller and the buyer.
Stamp duty also checked it.
#7 Possession letter
A certificate of possession or letter stating the date of possession of the seller is an important document that must be submitted to the buyer.
It is issued by Tehsildar in rural areas and RDO (Revenue Divisional Officer) in urban areas.
Things to consider when buying a home?
Location : Getting close to transportation, schools, shopping malls, etc.
Essential Services : If you have drinking water, electricity, sewage and gas.
Construction Aspects : Types of soil and technical matters governed by the Urban Planning and Construction General Act and in accordance with the Ordinance of Community Regulatory Schemes.
Monthly expenses : The value of taxes, general expenses and the cost of expenses if applicable.
Legal status : ownership report, owner restraint and it is debt free.
