Query Related to buying property
Querist :
Anonymous
(Querist) 17 August 2016
This query is : Resolved
I have a small query in regards to buying a property if you may please advise.
I have finalised one flat in delhi, where seller has a running loan on it and about about 70% loan is still pending.
Seller looking for all the payment in white and also he will clear the loan from the amount I'll pay him.
I need to know before paying him 70% in advance what all documents should I checked and what all legal documentation needs to be done before paying him token amount.
I am doing it for the first,so little confused here.
Regards,
Ms.Usha Kapoor
(Expert) 17 August 2016
Dear Client,
Is the flat a new sale of recently constructed property or used property for some time before offering for sale to you?
You need to check antecedent sale Deeds for 30 years, EC for 13 years, Municipal/Property Tax Receipts, Mutation is in whose name until now and prior to that in whose name mutation was there etc.Flat property map.You also should examine Khata certificate/Khata extract(Revenue Extracts) such as A Khata legal Transfer)and B khata, not legal transfer where A khata means Legal Transfer. You should insist on A Khata certificate.You should get land conversion certificate such as whether it was an agricultural land which got converted to residential property? If it is used property demand Occupancy certificate from the seller which had been issued to him at the time of occupancy by the builder.You should also get property evaluation done to estimate the current market value of the property.You should ensure all the relevant power, water, repair bills, cess etc etc are paid before the seller transferring the property to you.After doing all these you satisfy if everything is in place you get clean and Marketable title to the property.
Rajendra K Goyal
(Expert) 17 August 2016
No reply to query from anonymous author.
R.K Nanda
(Expert) 17 August 2016
No reply to aq.
Querist :
Anonymous
(Querist) 17 August 2016
Thanks for inputs/sharing Ms. Kapoor.My name is Abhishek :) and I appreciate your response.
Its a DDA flat and the seller is a second owner. Property was alloted to first owner in 2012 which I hope I can buy,however as per advice I'll check the relevant documents and I hope can came back and ask in case more doubts.
Querist :
Anonymous
(Querist) 17 August 2016
Thanks for inputs/sharing Ms. Kapoor.My name is Abhishek :) and I appreciate your response.
Its a DDA flat and the seller is a second owner. Property was alloted to first owner in 2012 which I hope I can buy,however as per advice I'll check the relevant documents and I hope can came back and ask in case more doubts.
Dr J C Vashista
(Expert) 18 August 2016
Anonymous author??
Mr. Abhishekh,
You want some help, advise and guidance from the experts, even than you prefer to remain anonymous, any specific reason?
Show the title document to a local lawyer.
Querist :
Anonymous
(Querist) 19 August 2016
Thank for sharing your valuable knowledge
Raj Kumar Makkad
(Expert) 21 August 2016
As the property is already mortgaged with the banker so there shall be a tripartite agreement between you, seller and the banker. You shall handover the payment to the banker only and shall obtain all the deposited title documents of the said flat from it after its due registration.
