Hyderabad has some exceptional residential properties like PBEL City and Pacifica Hillcrest. Here is a step-by-step guide that you can follow to close a great real estate deal.
It is a significant achievement to own your own house and a proud feeling to sign on the dotted line. However, the process can be rather long and complex to understand. It involves several legalities and formalities that you need to be aware of and could take weeks before you set everything in place. Hyderabad is an expanding city and is home to some magnificent real-estate projects like PBEL City and Pacifica Hillcrest.
If you have finalized the house of your dreams, here are the steps you may follow to close a great real estate deal.
Hire a Lawyer
Property documents contain complicated jargon that you may not understand fully well. Gaining clarity on the terms and conditions can shield you from future problems. A lawyer may point out specific issues in the sales deed or include clauses to safeguard your interests. It is a good idea to search for a good real-estate lawyer as you begin searching for flats in Hyderabad.
Get the Home Inspection Done
It is advisable to get an expert opinion before you conclude your search for a 2 bhk flats for sale in Hyderabad. An expert may inform you about any potential problems with the house or its surroundings. A home is a substantial investment and you may want to ward off all possible threats before you close a deal. You may even ask the seller at PBEL City or Pacifica Hillcrest to fix the damages before you sign the papers.
Additional Read: Hyderabad- Best City to Buy House
Negotiate the Offer
What do you do when you come across a 2 bhk flats for sale in Hyderabad that steals your heart right off the bat? You do not want to let go of the house, but the agent tells you that the owner has made up his mind on the price. Instead of giving in to the demands, it is always a better idea to negotiate the offer. Property can be unique, and owners may agree to lower the price if they get good vibes from the buyer. You can also renegotiate the offer if something comes up during the inspection or ask the seller to pay for the repairs.
Look for Funding
Flats in Hyderabad are expensive, and your savings may not be enough to pull off the deal. There are several lenders like banks and NBFCs that may help you in this regard. You may want to compare their interest rates, tenures and other services to make an informed decision. You can get home loans up to 3.5 crores at Bajaj Housing Finance Limited and fulfill your funding gap.
Additional Read: Real Estate Investment Locations in India for NRIs
Negotiate Other Costs
Buying a flat in Hyderabad comes with several additional costs that could disturb your budget. You have to account for the fees of your real estate agent, lawyer, administrative charges and procedural fees. Apart from that, lenders may charge a host of processing fees that you would not have accounted for. You can try and negotiate these costs wherever you can.
The Final Walkthrough
It is normal to experience butterflies in your stomach before you sign the deal. Revisiting all the paperwork and formalities before the D-day can help alleviate the situation. It is a good idea to read the paperwork one last time and seek clarity on anything you don’t understand. You may also want to inspect the house once more and confirm if the seller has repaired all the damages.
Buying a house is a considerable investment and can happen only once in a lifetime. You may want to protect yourself from all potential problems and invest in a risk-free property. Following a step by step process to close your real estate transaction can ensure this and get you the house of your dreams. Secondly, you can avail a home loan from Bajaj Housing Finance Limited to bridge the funding gap.