Buying a resale home is an effective alternative if the buyer does not wish to wait for a year or so for an under construction home. But unlike buying a new home, the purchase process of a resale property is different and may require an in-depth analysis of various associated factors.
Here is a checklist to keep in mind when buying a resale property.
• Check all the documents – Ensure that the property has a clear title and the all the related documents are legally valid. It is also vital to confirm that the seller is the true owner.
• Loan eligibility – Banks and financial institutions may have criteria for giving home loans for a resale property. Some banks may not give loans for a property that is over 20 years old.
• Outstanding taxes and other charges – It is important to ensure that all the taxes, maintenance charges and other dues till date are paid by the seller before selling the property.
• Property inspection – A detailed inspection of the property will provide a clear understanding of its condition and also helps plan the renovation and the cost associated with it.
Heather Homes, the top builders in Trivandrum known for delivering quality commercial and residential projects on time. Heather Greenage a flagship residential project, flats in Trivandrum, by Heather Homes equips world-class designs and facilities at its best.
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