4 POINTS - BEFORE BUYING A FLAT IN BANGALORE

YOU SHOULD KNOW SOME IMPORTANT FACTS

OTHERWISE YOU WILL BE CHEATED – READ IT CAREFULLY AND THEN PROCEED:

You might have read so many reviews, complaints, suggestions and fraud about real estate companies, so before you go for some investment you should know or fulfill all these (below mentioned points). If any small mistake happens in this process we will end up in court or in police station, all it creates “paid mental torture” because we have paid for the property and now fighting to get our cash back. Here are some points make you perfect in Buying a flat.

So I request all the readers to go through the document clearly and make a note of it.

Here are the Points:

1. Budgeting - Financial arrangements

2. Where to buy? Which Realtor?

3. Preferred Location

4. Legalizing the process – Papers and documents

I – Financial Plan:

For most of us the money matters a lot, either we pay full or go for Bank Loan. If you are salaried employee it is better to go for a Bank Loan.

The Bank loan and its approval depends on your Salary, if one person's salary is not meeting the requirement you can go for joint loan – husband - wife can jointly apply for the loan. There are so many real estate companies where they provide loan facility from their side.

Before signing the Loan Documents ask the banker to provide a clear picture of your loan details.

Such as EMI, Processing fee, Document charges, Annual charges (if any), ask clearly about hidden charges and try to get all these in writing.

Ask about Electricity, Water

What are the fees? – Stamp Duty, Registration charges, and importantly agents commission (It is strictly 1% or still less – Not more than that)

If Buying built house or flat – Look out for its condition and then fix the rate or ask for renovation or repair.

2. Where to Buy? Who should be your real estate company or Agent?

First and foremost before buying a flat or a house is – you should talk to some real estate agents and visit some properties. So that you will come to know the price range and market price of that locality.

Negotiate the Price with all the Agents as if you are going to buy - this gives you the perfect idea about the price in that area

Do the same with all Realtor and tell them that price is too high and we are unable to proceed so that he will give you a best price, Compare all the rates from different Agents, then come to a conclusion.

Track down all the points and compare – such as – Distance to your offices, schools, people around you, Safety etc.

3. Location – the above points discusses itself about the Location. But after all these discuss with your friends and take them to that place and show the place, ask for suggestions, consider that  and make a note of it.

4. Legalizing the process – Papers and documents

Once all the survey is done from your end, consult a lawyer for Paper verification and don’t keep it in your mind that it costs you more

The Lawyer fee for Verification of Documents will be in the range of Rs.2500 – 5000.

Keep a copy of the entire document before you go for paper verification and ask for all identity proof of your Real Estate Company or agent. Do not hesitate to ask for the papers.

Never compromise on Legal formalities and force the agent to get it done.

There are so many property yatra will be going on weekends, please visit and take part in it. Have experience of such activities.

Recently some Realtor have conducted Property yatra in Bangalore for Free of cost.

For example – Dreamz infra Bangalore.