Tobias McCosker - What to check before buying a property?

1. Toby McCosker - Things You Must Check Before Buying A Property Toby McCosker - When you are opting to buy your dream home or intend to invest in a property, it is a very crucial decision you are taking. Purchasing a property takes a lot of money, and you would certainly want your money to go in the right place. However, just thinking of buying a property is not enough. You need to plan a lot of things before that and also have to scrutinize a lot of things while purchasing one. Right from the selection of the home to making the transaction of buying it has plenty of processes to go through. There is some 'not to miss out' checklist as well that you need to do before and while buying any property. To know what they are, have a look at the list given below by Tobias McCosker (Toby McCosker). Ascertain your budget and property price The first and foremost thing you have to do while buying a property is to fix your budget. It will be convenient for you to shortlist a house or a flat depending on

2. how much you are going to spend on it. You can select the options on the property prices that are offered by various builders and developers by comparing their quotations. It can be done through online postings, newspapers, and also by any broker in your area. Assess the flat's carpet area Don't just go for the area mentioned in the advertisement and have a detailed look at the carpet area of the flat. The carpet area is the usable area of the flat. Most of the builders mingle it up with the super built-up area of the building which includes shafts, staircase, elevator ducts, wall thickness, etc. The main carpet area is 30 percent lesser than the super built-up area, which is calculated for the price of the property. In many cases, builders also charge for the space of a common area that is shared by two occupants on the same floor. Land record According to Tobias McCosker (Toby McCosker), This is the most critical thing that you need to meticulously scrutinize before making the deal. The land record

3. describes many things such as ownership of the land, registration of the land, and all dues that are cleared about the land. The title deed must be checked in particular before you seal the deal of the flat. In case you see any anomaly in the title deed of the land, back away from the deal. The legality of the property You have to check that plot on which the building is constructed is legal, and it got all the necessary NOCs from the municipality and other boards such as water supply, sewage, and electricity. In case you are taking a home loan for buying the house, then the bank will itself do all the verification before passing the loan. Possession period The bane of every home buyer is the possession period of the flat. It has become a trend for the builders to handover the flats to the buyers delayed up to 6 months to a year from the promised date of possession. Usually, all builders ask for a six months grace period for giving possession, but there should be a valid reason for that.

4. Location of the property When buying the flat, you should have a look around the area where you are going to reside in the future. This is a thing that should be carefully analyzed before the purchase of the flat. The area should be calm, peaceful, well connected, and have all the necessary amenities that will come hand for your daily use. Agreement Tobias McCosker says when you enter into a purchase agreement with the builder, you can book your flat with a token amount against which an allotment letter is issued in your name. Later on, the main agreement is signed by both builder and buyer for the rest of the amount. This agreement should be carefully read and understood in detail before being signed. If there are any doubts about it, raise the points instantly.