Buying a house is more than just a financial decision. It also invites a lot of Legal issues and formalities that needed to be fulfilled. However, a regular, first-time home buyer might not be fully aware of the legal aspects of buying a property and might get stuck somewhere in between.
Along with providing 2 BHK & 3 BHK in Chandigarh, La Prisma brings some of the major legal aspects that you should know about and should take care of while buying a house.
Verifying Ownership & Land Use Permissions
The very first legal aspect to consider while looking for a property is to verify that the person selling you the property is actually the real owner or not? There have been instances where first-time home buyers have been looted at the first stage itself. You can also ask for the land use permissions from the seller to avoid any complications later on.
Scrutinizing the Construction Approvals & Building Plan
A buyer should also look for the approved building and construction plans before buying the house, so as to make sure that the building has been constructed as per the law approved, and you won’t have to face any legal hurdles at some later point.
Signing the Purchase Agreement
As soon as you finalize to purchase a property and have negotiated the terms and conditions, it is important to lock them by signing an agreement on legal papers. The buyer gets a fixed number of days after the signing of the purchase agreement, to reconsider or backtrack the decision, just in case.
Registering the Property
Finally, the buyer has to get the property registered on to his/her name, which makes the person the legal owner of that property. Here you need to take care a few factors - whether you are buying the property alone, or jointly with a partner/family member. What will be the share in the ownership of the other person, in case he or she is the spouse or a blood relative. You can also simultaneously constitute a will defining the owner of the property after you.
La Prisma aims to offer extremely luxurious and comfortable residential apartments in Zirakpur. We sincerely wish that home-buying should be a smooth and endearing experience for the home buyers, without any legal hurdles.
This post first appeared on Luxury And Affordability | The USP Of La Prisma, please read the originial post: here
