Dear LCI lawyers,
I am from Bangalore and I have this general question regarding the Initial opinion which we take from the lawyers when we identify any property to buy and before going to bank for loan and before making the sale agreement. I want to understand, what and all they scrutiny on the photocopies of the documents provided?
- Do they have access to any database where they can verify if there is no litigation is on the property ?
- Do they verify if the records are actually in the sellers name at the relevant corporation or authorities like bbmp, bda etc., ?
- Do they check if the property is not listed in any demolishon drive by government or something for illegal encroachment ?
- Do they verify if the property is registered to some other party via fake documents or by fraud ?
- Or do they just glance through the different photocopies which we provide from their office itself and say whether its good to go for purchase or not ?
- What kind of report they provide at the end of the verification ?
I have all these questions because, recently I had gone for an opinion to buy a property from a lawyer partners and he took couple of days after submitting the documents and just said the property is good to buy and no issues on that. And no written report or anything. And they indeed charged 5000/- for this and for drafting the 'Agreement of sale' and 500/- as franking charges.
Its another matter that, the deal got cancelled due to the issues with the physical property itself. Now, I am planning to zero on another property, its just an empty plot in middle of a residential area. I am thinking is it worth spending money again as anyway there is a round of legal scrutiny happens when we go for bank loan. Please advice.
Thanks in advance.
Also, if in Bangalore, if someone can help do detailed scrutiny and verify the property I am planning to finalize at nominal cost, would be grateful. Please share your email ID and I shall get back.
Best Regards, Raj