Property checklist for Buyers
Property checklist for buyers – Resale flat has changed multiple hands in the past, the process of its purchase involves several complex legal procedures and technical implications.
Hence, before taking the final decision of purchasing a resale property in Bangalore or in any other city in India, you should have a re-sale property checklist. Verify / Check all the property papers and legal documents involved in the purchase. This will ensure that the flat has all the required government approvals and the seller has the right to sell it.
Property Checklist for Buyers – Buying a Resale Property ?
- Absolute Sale Deed in present seller’s name
- Khata Certificate & extract from BBMP
- Latest tax paid receipt
- If any loan outstanding on the property, latest statement from bank
- Encumbrance Certificate from date of purchase till date
- Agreement of sale & construction executed by developer in favor of seller
- Latest electricity bill & receipt for the said flat
- NOC from Apartment Association
- Sanctioned Building Plan
- Possession/occupancy certificate from builder
- All title documents of land owner
- Conversion Order issued by the concerned Authority
- Registered development agreement (If in case of Joint Development Property)
- Power of attorney/s if any
- Photocopy of Society share certificate & Society registration certificate.
- Joint development agreement, GPA, & Sharing/supplementary Agreement, between land owner and builder
- Whether originals are available for inspection if no loan is taken?
- A Copy of all registered previous agreements (in case of re-sale property)
- RTC (Records of Rights and Tenancy Corps) or 7/12 extract