REAL ESTATE
Very Important points to keep in mind while making a real estate deal:
1. a. Owner while selling:
If you are seller being owner or
investor and intend to sell your real estate, you should keep following points
in mind:
Price: Take a survey of similar
properties in that locality and decide the price of your property to avoid over
and under estimating the price.
Registry Fee: Get the information about registry fee and
stamp duty etc. so that you may sketch out the amount to be borne by buyer.
Time: Decide a suitable time to show
your property at a suitable time … like if you are selling a residential plot
in an under developed area, then you should avoid showing that property for
sale during rainy season, because in rainy season there will be water all
around and buyer will be discouraged to buy or will underestimate your
property.
Buyer: Always try to know the social and
legal status of your buyer.
Broker: If you need, hire a suitable and
efficient broker for your work and always involve him in documentations where
ever necessary.
Lawyer: Take the services of a lawyer for
legal formalities and consultancy.
Documentation: Make a clear cut agreement of sale deed mentioning
everything in detail.
1. b. Owner while renting out:
If you are owner and intend to rent-out
your real estate, you should keep following points in mind:
1.
Purpose of Lease i.e. Commercial or Residential
2.
Monthly Rental of property
3.
Advance Rental
4.
Security Deposit Amount
5.
Facility you are providing i.g. water and power backup, wifi,
ac, parking etc.
6.
Furnished or Semi Furnished or Unfurnished
7.
Tenant type / profession i.e. Service Class,
Business Class, Bank Personnel, Single, Family, Male, Female etc.
8.
Cast and Creed bar
9.
Fooding Habits E.g. Veg / Non-Veg / Non Smoker
etc.
10.
Source of Income of Tenant
11.
Maximum number of persons to dwell
12.
Late timing limits
13.
Police Verification Form
After deciding above points,
whenever you are ready to let-out your property, get ready a detailed and clear
cut agreement for lease and insist for fulfilling a police verification form
for security in future.
2. a. Buyers:
If you are a buyer / investor and
intend to buy real estate, you should keep following points in mind:
Price: Take a survey of similar
properties in that locality and decide the price of the property to avoid over and
under estimating the price.
Registry Fee: Get the information about registry fee and
stamp duty etc. from advocate so that you may sketch out the amount to be borne
by you.
Time: At the time of making an advance
payment as token of agreement take enough time in agreement for finance
procedure and final registry of property.
Buyer: Try to find out the legal status
of seller and his reputation.
Broker: If you need, hire a suitable and
efficient broker for your work and always involve him in documentations where
ever necessary.
Lawyer: Take the services of a lawyer for
legal formalities and consultancy.
Documentation: Make a clear
cut agreement of sale deed mentioning everything in detail.
2. a. Tenants:
If you are a tenant and intend to take
a house / shop / office etc. on rent, you should keep following points in mind:
1.
Purpose of Lease i.e. Commercial or Residential
2.
Monthly Rental range of property that you intend
to pay
3.
Advance Rental
4.
Security Deposit Amount
5.
Facility you will get i.e. water and power backup, wi-fi, AC,
parking etc.
6.
Furnished or Semi Furnished or Unfurnished
7.
Accommodation type i.e. independent or
shared with owner or other tenants etc.
8.
Cast and Creed bar
9.
Fooding Habits E.g. Veg / Non-Veg / Non Smoker
etc.
10.
Reputation of Owner
11.
Maximum number of persons to dwell
12.
Late timing limits
13.
Police Verification Form
Hope if you keep these points in mind while dealing,
you will be safe and carry no risk.
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