Buying Resale Property
First time property buyersJ, you are at correct place myself is software consultant working for multinational’s in Pune. Recently encounter with an experience, which I would like to share with you all.
So here, we go…
You are buying resale property.
Points to remember
Find out some good lawyer who is well versed in making following documents
- Agreement to Sale
- Sale Deed letters
- Search & Title report
*Make sure you know him better then seller knows him.
Ask him few ways to benefit you over seller by adding some or the other clause in the agreement. Make sure to discuss the entire payment mechanism.
Grab the best property rate from seller
- Study the area well where you planning to buy property before going to see seller.
- Find out what all landmarks of area & how far are those from property you are looking at.
- Avoid agent’s interference too much while negotiating price.
TCO (Property) includes
- Property costs.
- Stamp Duty (Franking) charges
- Registration charges
- NOC letter from either society or builder
- Lawyers Charges
*You can bargain with seller on Lawyer & NOC charges, make sure he is ready to bare the 50% expenses.
***If you are planning to buy this property with loan, read on.
If it’s a mortgaged property then
It’s better to get the loan from same bank where the seller mortgaged property
Try to bargain on the
- Rate % of interest
- Processing fees
- Bank property franking
*do not go with any agents, directly contact bank and meet the officials personally.