Documents To Check Before Buying A House In Resale

Buying in resale

So, you really like this one project which is completely sold-out but some flats areavailable in the resale market. But before you put the big bucks on the table, check these absolutely important documents.

1) Your first step should be to ask for the original title deed from the seller. This confirms that property is in the name of seller and he has full right/ authority to sell it. The authenticity of this as well as other registered title chain documents viz. a viz. conveyance deed, sale deed, transfer deed, sub lease deed, as be the case, may be verified from the office of the concerned sub- registrar under whose jurisdiction the title deeds of the property have been registered.

2) As the title of the property forms the foundation of ownership rights it must be clear and free from any encumbrances. Therefore, your next step should be to seek the No Encumbrance Certificate to make sure that the property does not have any legal dues/ registered encumbrances.

3) In case the seller has taken a home loan and property is mortgaged with a bank, ask the seller to take NOC from bank or if all dues are cleared then he or she should get a No Dues Certificate issued from his/ her mortgagor or bank

4) Please make sure that you have the complete chain of documents relating to the property. Right from original allotment to the title document in favour of the present seller that you are dealing with along with all the documents related to the registration of the property and the receipts of payments made by the seller.

5) Make sure that seller has copies of certificates such as completion, occupancy and NOC (No Objection Certificate)/ no dues certificate from developer/ concerned authorities.

6) You should also check that all previous dues towards property tax, service tax, VAT etc. as applicable, are paid and the Utility bills like Electricity, Water, Gas and Society Maintenance Dues etc are paid up to date so that later on the undue burden doesn't fall on.

In case, the Residents Welfare Association has already been registered, ask the seller to get an NOC from the society.

And last but not the least; don't forget the drill to get all the documents verified by a lawyer.

Reviewed by- Sunil Tyagi, Senior Partner & Co-Founder, Zeus Law


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