When one wishes to buy real estate for self-consumption or as a home for an investment, merely the factors of price and location are not to be considered. If a new property is going to be bought from well-known and reputed builders then there is no need to worry.

But the cause for worry surfaces when buying a resale property.

WHAT SHOULD BE VERIFIED FIRST

The first detail to be checked out is the title of the property. In fact, even before beginning to check out other documents pertaining to the property it is crucial to start the verification of title process. For example, if the buyer is being offered a property at prices that are well below the current market price then this should set alarm bells ringing. There could be land owners or property owners out there whose titles are complex or even defective. Such people could lure buyers into making instant and unchecked decisions by offering them low prices. This is just an enticement and should be looked at with utmost caution.

The documents should then be scrutinized for authenticity and relevance. The investor or buyer then needs to check whether the property is freehold property or leasehold, and also, whether it is fully owned or jointly owned.

The next thing that one has to do is to go through the title papers with great attention.

AGREEMENTS THAT ONE HAS TO CHECK:

SALES DEED
LEASE DEED
CONVEYANCE
DEVELOPMENT AGREEMENT

and other documents that establish the ownership history.