Tips for checking the documents to buy an apartment without a lawyer

You can authenticate purchasing documents without professional help. However, here are a few things to keep in mind before signing on the dotted line.

4 bhk flat for sale in kharghar, Due diligence and knowing your rights can certainly protect you from developer fraud. In an industry that still lacks transparency, it is best to physically verify all documents before purchasing a property.

Tips for checking the documents to buy an apartment without a lawyer

First of all, the preparation of the sales contract must be carried out with great care. The buyer of real estate must understand its content; Hire a lawyer if necessary and write down any conclusions the developer agrees with.

Buyers Checklist

  1. Personal data

The contract must contain full information about the seller. This includes the father’s name, address, PAN number, and bank account information. It must also provide specific details of the location of the property and the number of the municipal land register, tehsil (administrative division) or collector. The agreement must be certified by two people, each representing the buyer and the seller.

  1. Ownership documents

“The seller must confirm the authenticity of the title deeds and the transfer of title in the contract,” Puri explains. “It should also make it clear that the transfer and transfer of ownership is done in a legal and fully certified manner. The agreement should reflect that all shares attributable to the property were liquidated prior to the date of transfer. In addition, the agreement should completely exempt the purchaser from any dispute over title and ownership of the property.

  1. Date of ownership

“The ownership date of the apartment is important to the buyer in terms of the transfer of the apartment by the developer. This is the date on which the buyer must take possession of the premises and obliges the buyer to transfer ownership within the period specified in the contract. If ownership has not been transferred by this date, the buyer has the right to file a claim, ”says Anirud Hariani, lawyer for Hariani and Company.

The “material time” clause of the agreement defines the contractual conditions during which the parties must fulfill their obligations.

  1. Payment schedule

“The clause defining the payment schedule fixes the total amount to be paid and the time limit within which it must be paid,” Hariani explains. “In cases where payment is made in installments, the payment schedule contains details of eacheach slice. In this way, ambiguities that may arise in the future can be avoided, ”Hariani emphasizes. The contract must include all the details of the buyer’s payment, including the mortgage, if applicable.

Tips for checking the documents to buy an apartment without a lawyer

  1. Termination

The termination clause sets out the consequences for the parties of deviating from the code of conduct which should be observed. The contract may contain a “termination of convenience” clause in which either party can terminate the contract.

  1. Dispute resolution

The dispute settlement clause establishes a mechanism by which the parties can resolve their disputes. It is an alternative to dispute resolution. In addition to this, other processes used to terminate commercial contracts include litigation and mediation.

  1. Services

The clause on services allows the buyer to know the additional services to which he will be entitled and indicates the additional amount for maintenance costs. In the event of a defect in the service you wish to provide, the buyer can consider it as a breach of contract.

  1. Penalty

A penalty clause should be included in the sales contract, clearly indicating the steps and penalties for non-compliance by the seller and the buyer.

Finally, registering a legal sales contract is beneficial for the buyer as it offers protection against legal complications at any stage of ownership or subsequent resale. After drawing up and saving the sales contract, no changes can be made. If it is necessary to make any changes, it is necessary to obtain the consent of the buyer and to make an addition to the contract.

Verification of documents for the property

All terms and conditions mentioned in real estate documents should be read and understood carefully before agreeing to enter into a transaction. In addition, the frequent use of legal language can make the work difficult to understand. Don’t assume a word has a specific meaning unless you consult a law book about it.

 

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