MASTHAN (Self employeed) 06 December 2012

Property document verification

Hi All,

I am planning to purchase a property at Kurnool, Andhra Pradesh. The property is semi constructed house, the builder is agreed to complete the house and registration for amount RSXXXXXX.

I need to pay the margin amount RsXXXX lacs on this Monday and once I pay the margin amount, we will write down the terms and conditions of the agreement and then will go for the loan for the remaining amount.

1. Could you please let me what documents I need to check before paying the "MARGIN amount"? and how and where I need to verify the documents?

2. Please let me know what terms and conditions I need to include in the agreeement, so that I can fight against the builder if builder makes any frauds/cheats/less quality ..etc

3. If you have any sample agreement, could you please share it?

Thanks,

Masthan

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(Guest)

Give a public notice in local daily news paper calling for objections if any person/s, financial institutions have on the said property. Appoint a Lawyer and provide him with the details of Property and copy of sale-deed, mortgage-deed if any mortgage was there on along with the receipt of municipal tax and copy of property card to verify. The Lawyer will conduct Title Verification of the property for the period of last 30 years as it is a must for bank finance. If any loan was there and mortgage deed was executed in that regard, the same shall come up. If the property was sold to someone else prior to you, the same as well shall reflect from the records maintained by the Registrar of Assurances.

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