If you are looking for a house and need guidance from someone then searching them on the real estate websites is the first step you can take. Easy to access, these websites provide correct information at the click of a mouse and also help you decide what are the types of apartments for sale and where? After that personal rounds of information gathering is a must.
The real estate sector runs on speculation and most of the times the buyer ends up paying more amounts for a property then he should pay. The reason is that the real estate agents and brokers inflate the price of the property to make more commission and thereby cratering a ripple effect in the market which results in the overall growth of the property prices in a particular area.
Hence, it is always better to deal directly with the owner and check the rates prevalent there and find out about the apartments for sale and their prices. The omission of the broker is necessary for the real deal to happen and for the same one has to surf the real estate websites, find out a locality where one intends to buy a house and in what budget. The whole rigmarole is simple if followed diligently and carefully.
Recce is important
More than often it happens that two properties of the same size in the same area, with the same features are sold for different prices and by the time they come to know about it the money has been transacted and transferred to the broker. This happens because people believe in brokers blindly leading to this disappointing outcome. One should therefore do a recce of the area, speak to owner of houses there and then meet the broker for finding out properties and that’s where his role must end.
Documentation Check
Purchasing property is a big thing and hence after one has spent hours on checking about the location, size, rooms, furnishings, amenities, facilities, rent, price etc. the next step is to verify the papers associated with the property and find out if they are in order and are genuine or not.
The necessary papers are: Land usage documents, ownership deed, lease deed, developer’s name and registration, bank guarantee; also it is important to find out if the property is disputed or not. The steps taken initially will go long way when it comes to living in house as a buyer or renter. Generally, apartments for sale with private builders have all these information but the need is to cross check when one is renting a property or buying a property from in a re-sale mode.
Increased demand
There is a huge demand for houses not only in big cities but in smaller towns as well. New projects are launched by private builders every now and then and it becomes important to be careful and look before leaping into a real estate deal. With numerous projects being launched in smaller towns by not so well-known builders it becomes very critical to find out about these new builders and their pedigree.
Pre-launch booking is a very popular way adopted by these builders wherein they encourage the buyers to book apartments even before the land is bought by the builders and this becomes a risk taking exercise. Invest only if you know that the land belongs to the builder; go to the location, not once but many times, to ask about the builder and the kind of project is being developed there. Also, one can check with the local real estate authority dealing with the matters of land transference and land deals for builders.
Photo Credit: Flickr/Firing up the quattro
