step 1: Memorandum of Understanding

Step 2 : Searching Municipal records

Step 3 : Searching Litigation

Step 4: Sale Deed

Step 5 : Registration

Step 6 : Mutation.

1) ask seller to produce original documents of title

2) check whether property taxes and society maintenance has been paid till date

3) call upon seller to furnish NOC from society

4)take 30 years title search . obtain certificate from lawyer that title is clear and marketable

5) enter into agreement for sale which mentions terms and conditions as to consideration , period for making payment , execution of sale deed by seller

6)on payment being made seller should execute sale deed in your favour have it regd and possession should be delivered to you

The documents to be verified before buying the re-sale apartment:

Sale Deed: One of the core legal documents that evidences the proof of property sale and transfer of ownership between the seller and the buyer is the Sale Deed.

Mother Deed: Also known as the parent document, Mother Deed is the second most important document that traces and evidences the origin/antecedent ownership of the property from the beginning, in case the property has changed various hands

Encumbrance Certificate (EC): An Encumbrance Certificate denotes the charges in the ownership or liabilities created on a property that is held against a home loan as security. The document consists of all the registered transactions pertaining to the property for a particular period/sought period.

Latest tax paid receipt: The latest tax paid receipts are a proof that the property tax is paid up-to-date to the municipality

Occupancy Certificate (for a constructed property): An Occupancy Certificate is obtained after the completion of a project construction by a builder. It is given only after the authorities carry out an inspection on the property. The certificate evidences that the project constructed by the builder has met all the given norms

Building approval plan: Without a building approval plan, a building will be deemed as an illegal construction

Possession Certificate (PC): A Possession Certificate has to be mandatorily issued by the Builder / Developer to the first owner. A PC confirms proper construction and allows people to take possession of the property

RTC (Record of Tenancy Rights/Certificate) Document: An RTC or a Pahani is a crucial revenue record that consists of the land owner’s details, the soil type, the water rate, assessment, area, liabilities, tenancy details, crops grown on the land, nature of possession of the land and other details.

Conversion Order/ DC Conversion (agricultural to residential): A Conversion Certificate or a DC (District Commissioner) certificate is acquired to change the property status from an agricultural land use to a non-agricultural land use viz., residential use or industrial use.

The buyer should ensure that the property has a marketable title

The buyer should check for the existing loan on the property

Loan eligibility for the buyer

Property valuation; It is advisable that the buyer seeks technical expertise to evaluate the property before approaching the bank, as the bank would safeguard its interests by evaluating the property at a lower rate considering the depreciating property value in future.

In case of a resale apartment, it is always wiser to buy a ready-to-move in property with all the amenities.

More Points to remember:

Buying a resale property is quite advantageous- no project delays, ready-to-move-in property and no service tax/VAT burden.

Before buying a resale property that is quite old and attracts additional maintenance charges by the society, one should meet the society’s office bearer to know more about it.

Resale properties are likely to be discounted. They have more flexible payment options.

For properties aged over 18-20 years, there are possibilities of them being unregistered and registering in the current period will add to the buyer’s burden in terms of stamp duty and arrears.

A buyer of a resale property should consider the parking space, plumbing, electricals etc.

1. Collect the copy of the title deed of the apartment and check the original one to be assured that the apartment has not been mortgaged by depositing the original title deed with the mortgagee Bank,

2. Check whether there is a Bank loan pending to be cleared by the owner of the apartment,

3. Check whether the sanction for construction was obtained while constructing the apartment and whether the apartment has been constructed as per the sanction or not,

4. Check whether the title deed has been executed and registered by the authorised persons or not,

5. Check whether the property has been mutated or not,

6. Check whether the original link deeds are available or not,

7. Check whether permission from the apartment owners' society has permitted the said sale or not and there is no dues with them from te present owner.

Engage a local lawyer to conduct due diligence that would find out if the title of the property is free and marketable or not. If the title is free and marketable then the seller may either execute a direct sale or an agreement to sell may be executed and then the sale may be made in accordance with it.