Buying a property is a dream. The property can be a home or an apartment, or land. However, this could become a nightmare. If you don’t thoroughly verify Property Documents. So, there are few things to take care of. Let us take a look at What to do and What not to do when buying a property. 

As we know that buying any property requires capital. Mistakes made while buying can cause significant trouble for the buyer. Thus, it is very important for a buyer to verify property documents very carefully. With proper legal advice, the buyer must perform an inspection of documents. Additionally, the buyer needs to confirm pertinent details about the property. In this way, it is possible for the buyer to ensure that the investment is secure.

Property Documents Checklist: An Essential Initial Action

Verifying the existence of a few crucial documents is essential before moving forward with any real estate purchase. The buyer needs to be very aware of:

Title Verification:

• Confirmation: Ensure the title’s existence by validating it with the seller.
• Scrutiny:Examining the title closely, we actively assess its market appeal. The title grabs attention and engages readers effectively. Its charm and urgency make it versatile, ensuring broad appeal in the competitive market.
• Competency Check: Assessing the seller’s skill to clearly and effectively present a marketable title, we find their ability impressive. Moreover, their capability to communicate a compelling title contributes significantly to its marketability.

Verify Property Documents: Ensuring the Identity of the Seller

After the title has been confirmed, turn your attention to making sure the seller is legitimate. Examine the following:

Residence Status and Nationality:

• Confirmation: Confirm the seller’s residence status and nationality, crucial for the sale. Additionally, ensure the validation of property documents, an essential step in securing a successful transaction.
• Ownership Identification: Identify all property owners, especially in cases with multiple owners.

Conversion and Land-Use Permissions: Navigating Urbanization Challenges

Currently, urbanization is increasing, and revenue lands merge with urban areas. The conversion of property for non-agricultural use holds vital importance due to state laws. Buyers must examine the Master Plan actively to align with their plans. Different zoning plans exist, such as residential, commercial, and industrial. If the actual use differs, buyers should obtain orders from the Town Planning Authority.Furthermore, it’s essential to verify property documents to ensure a smooth and valid process in obtaining the necessary approvals. Given the current trend of urbanization, understanding the property’s conversion for non-agricultural use is crucial. Take these steps:

Master Plan Examination:

• Evaluation: Scrutinize the zoning plan to align with your property plans.
• Check Plans: Assess various zoning plans such as residential, commercial, industrial, and others.
• Compliance: Verify property documents to confirm that the current use matches the notified zoning. If necessary, secure orders from the Town Planning Authority to align with the approved regulations.

Construction Approvals: Building with Confidence

Verifying construction approvals is crucial for properties with built-in structures. Take these actions:

Plan Approval:

• Verification: Verify property documents to confirm the approval of the building plan/layout plan by local municipal authorities. This step is essential to ensure compliance and a smooth transaction process.
• Comprehensive Approval: Secure approvals from government, statutory, and regulatory bodies. This ensures compliance and a smooth process, aligning the project with the necessary legal and administrative requirements.
• Additional Approvals: Obtain separate approvals for infrastructure facilities, water, sewage, electricity, environmental clearance, and fire safety.

Occupancy certificate: A Crucial Document

To prevent penalties and property destruction, ensuring the seller possesses an occupancy certificate is paramount. Take the following steps:

Certificate Check:

• Confirmation: Verify property documents to ensure the seller has obtained the occupancy certificate before conveying the property. This step is crucial to guarantee legal compliance and a seamless transfer process.
• Consequences: Understand the penalties associated with using the property without obtaining the occupancy certificate.
• Risk Mitigation: Confirming the certificate minimizes the risk of property destruction and ensures compliance with applicable building bye-laws.

Status of tax payment: Uncover Financial Liabilities

To prevent financial entanglements, it is imperative to ascertain the tax status of the property.Follow these steps for a comprehensive review:

Tax Verification:

• Municipal Check: Check with municipal authorities to confirm the payment of all property taxes. This step is important to ensure that all financial obligations related to the property are settled.
• Financial Implications: Recognize that unpaid taxes can constitute a charge on the property, affecting its marketability.
• Risk Assessment: Understanding the tax payment status helps assess the property’s financial health and market value.

Identifying Impediments: Uncovering Potential Restraints

Discovering any restraints on the property is vital for a hassle-free purchase. Follow these steps to identify potential impediments:

Restriction Search:

• Sub-registrar Office: Conduct a search at the jurisdictional sub-registrar office to uncover any legal constraints.
• Online Portal Check:Explore the official web portal of the Ministry of Corporate Affairs actively to conduct additional research on potential restrictions. This is essential to gather comprehensive information about any limitations or constraints.
• Legal Clarity: Gaining insight into property restraints ensures legal clarity and helps in making informed decisions.

Physical Survey and Property Access: On-Site Verification

Conducting a thorough physical survey is essential for a complete understanding of the property’s characteristics. Follow these steps for on-site verification:

Personal Survey:

• Boundary Marking: Physically identify and mark the boundaries of the property, especially crucial in land purchases.
• Feature Confirmation: Confirm the presence of any specific physical features, ensuring they align with your expectations.
• Optimal Enjoyment: By personally surveying the property, the buyer ensures maximum enjoyment and utilization of the purchased space.

Compliance under RERA: Ensuring Legal Operations

Ensuring compliance with the Real Estate (Regulation and Development) Act, 2016 (RERA) is imperative for a legally sound property transaction. Follow these steps to guarantee legal operations.

RERA Registration:

• Verification Process: Check if the property is registered with RERA through the official web portal.
• Developer Scrutiny: Investigate any cases or complaints filed against the developer on the RERA portal.
• Broker Registration: Confirm the real estate broker’s registration with the state RERA, ensuring adherence to legal requirements.
• Legal Clarity: Adhering to RERA guidelines provides legal clarity and safeguards the buyer’s interests in the real estate transaction. Buyers should also inquire about the broker’s RERA registration for transparent and legal dealings.

Conclusion

Before sealing the deal on your property purchase, meticulously follow the checklist provided above. Confirm the details with precision, ensuring a comprehensive verification of property documents. This diligence will empower you to proceed with certainty, ready to savor the pleasures of becoming a property owner.

See more: The Ultimate Guide to Listing Your House for Sale: Everything You Need to Know

FAQs: Your Burning Questions Answered

Addressing common queries surrounding property document verification provides clarity for readers.