Buying a new property can be a great experience with thesesteps to your newly purchased home.
How differ are old properties and brand new homes? Which features are only available in new properties? Buying a property requires a
Sure or Not Sure – Start your home search process as soon as possible –
Enhance your local real estate knowledge by reading
Keep an eye on property pricing trends –
Keeping a tab on ongoing property prices and
Plan Your Budget –
Understand your budget, Analyse how much you can comfortably afford to spend towards the purchase of your new home. If you require a home loan, analyze your profile to find out how much loan amount you can qualify for. Make a list of all the expenses to be incurred while buying a home and for maintaining it. Buying a home in South Delhi involves stamp duty charges
Check your credit score –
Your credit reports are a
Understand your present and future requirements –
The best way forward is to analyze your present and future bedrooms/area requirements before planning to buy a home for your family,
Understand the mindset of a property dealer –
Property Dealers generally represent both buyers and sellers, they can work as mediators for both the parties. It is necessary to identify the real estate agents based on certain traits.
Make an Offer to Buy –
Once you’ve zeroed on a property you would like to buy, the next step is to make a buying offer through your chosen estate agent.
Hire a Property Advocate for documentation and Registration-
Once you have agreed on a property to purchase, you would need to get the services of a reputed advocate for vetting the property documents and executing the sale deed.
Enter into an agreement to sell with the seller –
Enter into an agreement to sell with the seller by paying anything between 20 to 30% of the agreed price. This makes the seller legally committed to selling it to you. You need to agree and mention terms and conditions like a full and final payment date with the seller. Make sure all the previous bills like water, electricity, gas and house tax are paid up
Take possession of your newly purchased property –
The seller has to hand over the vacant property by the time of completion, and you should then be able to collect the house keys.
You are now all set to move in, or if you are doing anyfurther remodeling as per your own taste and requirements, You can start that now.