10 questions to ask your builder before you buy your dream home

By Jay Dee Infra In Home Buying Tips, Real Estate Investment No comments

10 questions to ask your builder before you buy your dream home

Buying property is an overwhelming task with immense amount of investment; we tried to simplify a few things for you and jotted down ten questions you must ask your builder before you buy that dream home.

  1. Clear Title: you must know if the property is hassle free legally. The direct way is to ask for important documents like Intimation of Disapproval (IOD) and Commencement Certificate (CC). If the property is still under construction, you can ask for approval of drawings and plan of project. It will make sure that the property is built up on undisputed land.
  1. Actual price of the property: It would include the cost for utilities like electricity and water, parking space, various taxes, any legal charges and registration. Otherwise, the builder may then impose some extra charges for any of these later on during possession.
  1. Actual Size of the house: Discuss about carpet area, built up area and super built up area.
  1. Discuss: The undivided share in the land which has to be registered before commencement of construction. It should be correctly transferred to all the owners without retaining any share for him for future use.
  2. Banks: Ask the builder, if any famous banks for example HDFC, ICICI etc. has tied up with them as most banks tie up only with reputed builders. You can be assured that you will be safe from any kind of fraud.
  3. Sample Flat/Villa: As an aware buyer you must always demand to visit the sample flat/house which will give you an idea of how the flat will look and this way you can check the quality of construction material they have used. In some cases buyers can upgrade materials by paying some extra in advance to the builder.
  1. Completion/Possession date: You must be aware of the date or tentative date by when the project will be completed and by which you can take possession.
  1. Utilities: Discuss about all utilities / in built facilities the builder will give you upon the sale of the house/flat like kitchen furniture, fans, electricity, any other furniture, any electronics home appliances etc.

questions to ask before buying home or flat or apartment or land

  1. Occupancy Certificate (OC): This certificate is very important, it is given to the owner or the tenant once the building is completed mentioning that property is ready to occupy. Property without OC may faces problems pertaining to bank loans.
  1. Completion Certificate: On handing over the house to you, the builder must also give a completion certificate. This is issued by Municipal authorities of the particular area which confirms that the building is in accordance with the approved plan. You would require this certificate for registration of your property and other government formalities.

Source: http://blog.estateace.com/property-in-india/10-questions-ask-builder-buy-dream-home/

10 questions to ask your builder before you buy your dream home


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