A Comprehensive Real Estate Checklist You Need to Follow Before Buying A Home


hardik, February 26, 2019

A Comprehensive Real Estate Checklist You Need to Follow Before Buying A Home

Your search for the right home is finally over and you are excited to seal the deal. You have chosen between 2, 3 and 4 BHK apartment at Pacifica Reflection at the Vaishnodevi Circle in Ahmedabad to enjoy greenery and high-end amenities like 24/7 security and a cricket pitch.

But regardless of whether you want to buy flats in Ahmedabad or in any other city of India, you must always have a handy checklist in hand in order to make your home purchase a hassle-free experience.

Take a look at the factors you must keep in mind before you sign the dotted line.

Hire a lawyer to verify the property documents

As the first step, hire a lawyer to read through the documents relating to the land and the property to confirm their legitimacy. Verify the title and the identity of the builder.

As a layman, you may not be well-versed with legal jargon and terms, so it is always good to hire professional help and avoid any legal issues that may crop up afterward.

Also read: Real Estate Regulation & Development Act (RERA)

Take a final tour of the property

Walk around the property and check if everything is intact. See if all the repairs are done and ask for bills and warranties of the materials and fixtures that have been used for future reference.

Also check the wiring, plugs, and fuses, if all the sockets are working fine, and that the outlet plate covers are not damaged. Inspect the gas and water pipelines for leaks and inspect every fitting and fixture with dexterity so that you are sure that nothing is damaged.

Read the final contract carefully

Next, read the final contract once more. Check for any issues with clauses, your name and other important details. Also revisit the additional costs like maintenance and parking space expenses and ensure they are as per what was quoted to you. In case of any discrepancies, approach the builder and have rectifications made.

After buying the property, remember to go through the following real estate checklist.

Also read: 20 Tips for First-Time Home Buyers

Make multiple copies of documents for your new home

After signing the deed, make multiple photocopies of the purchase agreement, deed, and other documents related to your new home and keep them securely.

You may have to submit copies of the documents to the insurance company and the home loan issuer, so it is always best to be prepared from the get-go.

Transfer the utility bills in your name

Sometimes, utilities such as electricity, water, and others continue to be in your builder’s name even after you buy the property. However, you should transfer these to your name as soon as you become owner the as not doing so can cause difficulties later.

Also read: Real Estate Investment: A Ultimate Guide For Beginners

Consider changing the locks

Typically, the builder and construction workers have the keys to the pre-installed lock so that they can easily make your home ready for possession. Therefore, it is of utmost importance to change the locks as soon as you start inhabiting the premises for your own safety.

On the other hand, if you haven’t initiated your search for the right home yet because the process seems daunting, you can now do so right away.

Top lenders like Bajaj Finserv Homes and Loans not only offer high-value home loan at affordable interest rates but also extend other meaningful services to elevate your home buying experience.

For instance, with their in-person assistance, you can search for your ideal home without wasting time. With their property dossier, you can learn the legal and financial aspects of a home purchase in great detail.

Moreover, with a significant loan of up to Rs. 3.5 crore, you can keep the worry of exceeding your budget at bay. To unlock these benefits right away, all you have to do is take a minute out of your day to check your pre-approved offer from Bajaj Housing Finance Limited!