Rajesh Kumar (Lead) 05 February 2014

Need advice on flat purchase

Hello there. Hope you are doing well.

This is regarding a potential purchase of a residential flat.

We have finalized on an apartment to buy a flat in. This being my first property purchase, I have a lot of questions. I thought I could use the help of experts on this forum.

What are the things I need to pay attention to?

I am planning to go for a loan of 50% of the price. The builder insists on a cash payment for the rest. Is there any issue with that? What would be the ideal way in this scenario?

Are there any specific details/questions or documents that I need from the builder before proceeding with the purchase?

Thank you very much for your help. Any suggestions are welcome and greatly appreciated.

-Rajesh

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1 Replies

Rakesh (Sr. Executive Legal) 28 February 2014

Hi Rajesh,

First of all plz check the tie up of Banks with Builders, If banks are ready to come forward in providing loans to the purchares, u can be sure on the authenticity of Property documnets.

Its always suggested to go for property due diligence from an Advocate for better confirmation on property documents and site, since there are many documnets to be checked.

I suggest you to pay remaining amount by Cheque or DD.

All the best!!