Buying A Home? Here Are All the Documents You Need
Buying a home is such an emotional event for most of us. And very rightly so!
People plan, save, and do rigorous hours of house-hunting before they finally find what they are looking for. But, buying a home does not end with this alone.
Rather, it is a highly documented process and requires detailed paperwork. Sadly, most buyers are not even aware of the different documents that are required to buy a home. This ultimately results in unexpected delays.
However, with a little preparation, homebuyers can simply sail through the documentation process. And we thought why not make the task even easier for them.
Here is the list of documents that home buyers need to get the keys to their dream home.
1. Sale Deed
The first and the most important piece of document is the sale deed. It establishes the title ownership and must be presented in its original form. The sale deed has to be registered at the Sub-Registrar's Office of the area where the property is located.
Any new property must be registered in the local municipal records. The registration certificate is also essential if buyers are considering a home loan option.
3. No-Objection Certificates (NOC)
The NOC has to be issued by the property owner or the builder. Homebuyers must attach the NOC copies as part of their home purchase documents to avoid any undesired discrepancies in the future.
4. General Power Of Attorney
This is another important piece of document that must be issued by the seller (home or apartment owner). The general power of attorney is also a necessary document for claiming home loans.
5. Allotment Letter
Allotment letter, issued by the original owner, is a detailed account of the property plan and the amount paid by the buyer. However, it is not the same as the agreement of sale which is issued on a stamp paper. Homebuyers must keep a copy of the allotment letter. It must also be attached along with other documents to claim a home loan.
6. Occupancy Certificate
An occupancy certificate is a guarantee that the building or apartment is approved by the local authorities. It is also the proof that the construction has been done as per the prevailing laws and there would be no legal issues in the future.
7. Completion Certificate
The completion certificate is similar to an occupancy certificate. It is a statement of assurance from the builder that the building has been constructed within the boundaries of the approved plan.
8. Possession Letter
It is a document issued by the developer to the buyer. It mentions the date on which the home or property was handed over to the buyer from the seller.
9. Sale Agreement
The sale agreement is another important piece of document that has all the important information of the transaction between the buyer and seller. This also includes terms and conditions, possession date, payment details, floor plans, common areas, and facilities, etc. This document must be presented in original by the buyer for completing the purchase as well as getting a home loan.
10. Property Tax Receipts
In case home-buyers are buying from a previous owner, then they must ensure that there are no current tax dues. Property tax receipts confirm that there are no legal discrepancies about the property. Further, homebuyers must also ask for an encumbrance certificate which is proof of no pending tax dues or mortgages on the property.
So, are you ready to buy your dream home? Even if you are not, we are here to help you. At KGK Realty, we ensure you don’t even have to drop a sweat to get the keys to your dream home. Just pick and choose from our range of 3bhk luxury apartment in Jaipur, while we take care of everything else. Feel free to visit our project locations and see for yourself the luxury that you can truly own.