Planning to buy a home? Do your homework properly. See the red flags before investing; don’t just sign the dotted line without a thorough check. The real estate sector is one field where anyone can become an estate agent, and these street savvy, very vocal and glib people can take you on a merry-go- round ride taking advantage of the lack of transparency and the volume of paper work involved. Ask him some important questions like-
Developers legal background so that there are no legal hassles which can create problems for the buyer at a later stage.
Track record of the delivery of a project– make sure if your project is under construction that it will be ready to move into by the stipulated time or you will be in a fix.
Beware of fly by night operators- don’t fall for your agents sugar coated talks visit the premises at different times, find out about the neighborhood.
Regulatory approvals– ask him if the title of the land and that of the project along with other approvals have been cleared. Ask your agent if you are buying a property on resale, that if all dues and liabilities have been cleared by the previous owner. Tell him to take a stock of all the things that he promised you on possession.
Question him about car parking space -later on you may realize that this was not included. Make sure you get your NOC’s and all documents from your agent. Your property is duly registered on your name.
Discuss all the financial transactions beforehand, tell him to give you the entire breakup in writing so he cannot back out. Discuss all the pros and cons, terms and conditions, do your homework properly. Do not feel embarrassed to ask him things it is your money and let him not take advantage. The bottom line is choose your agent who is well versed at his job, don’t let him tell you what to do but tell him how you want the things to happen.
Read More About…Reasons Why You Should Buy Property through a Real Estate Agent