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Things To Verify Before Investing In A Individual House Property

Posted by Admin on June, 24, 2019

Well, the idea of owning an individual house brings in the sense of pride and Independence to an individual as well as to good family. A person puts on all his hard earned money, valuable time, and continuous effort to buy a perfect home where he can stay with his family in ultimate peace. However, there are several days which one needs to consider when buying any immovable property like a house.

No matter if you are going in to invest in a flat or an independent house; you need to take balanced thoughts, cautiously checking all the documents and verifying them and checking all other specifications related to the property.

Apart from it, before investing in an estate, it is suggested to go through the neighbourhood criteria, check for back loan facilities and make sure if the area has excellent communication service, a drainage system, and electricity supply or not.

Apart from these points, here, in this article, we will be dealing with some of the other factors which you need to consider when going in for purchasing an individual house for sale in Porvorim.

• Title Deed

Title Deed is a document which outlines the ownership of any property. While buying a house on sale, it is essential to check the title deed and ensure whether the seller has the rights to sell the property or not. A person needs to have the right, title, and the full capacity to sell any property.

• Verification of Land Use

You need to have a look at the master plan of the city and verify the land use area which your property has as per it. These master plans are easily available at the local government based offices from where you can easily sit and verify the land use area and pay accordingly for your house.

• Certificate of Release

Well, if you are investing in resale property, it is essential to get the release certificate from the bank. This certificate will signify the point that the loan for the given property has been paid entirely and you can safely invest in it.

• Certificate of Encumbrance

This is another essential certificate which you need to ensure collecting and verifying. It proves that the land in which you are investing is free from all sorts of legal dues.

• Approvals From Local Body

Once you have collected all the essential documents and certificates, the next important thing which you need to do getting the layout of the property approved by the development corporation and the other local authorities of the city.

• Receipt of Property Tax

The revenues of the paid tax are also necessary. It is recommended to collect the tax receipts and verify if the payment of tax for the built-up area of the property is paid or not. You may also check for chances of non-payment and get it done to avoid situations of penalty on account of the property.

As buying a single house for sale in Goa is a huge task, it is essential to ensure that it is done correctly. Ensure doing a proper background check before investing in a property to avoid cases like fraud or penalty.

This entry was posted on June, 24, 2019 at 10 : 32 am and is filed under Individual House. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response from your own site.

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