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Purchasing a home is probably the most important investment decision made by a person during his lifetime. For taking this decision, he thinks about different types of the properties and prevailing policies. In case of a resale property, the construction associated risk is minimal. The buyer does not need to wait for a long time. However, there are other risks associated with this kind of property. To minimize that risk, we have made a list of documents, required to be cross-checked or verified before performing the final purchase:
- Sale Deed: A sale deed is a primary legal document which serves as a proof of transfer of ownership and sale of the property. Before execution of the sale deed, the purchaser needs to ensure whether all terms and conditions are complied with or not.
- Building Plan: A building approval plan as sanctioned by municipal authorities is required to be provided by the seller. This approval plan is essential because any unapproved construction has a risk of getting demolished or denied occupancy. A building plan usually includes a blueprint of the property along with equipment layout and utilities.
- Completion Certificate: A completion certificate as issued by the local municipal authorities is essential at the time of purchase. It signifies that the building is in compliance with municipal rules and is constructed as per approved plans. This document is a requirement at the time of purchase of property and while seeking a home loan.
- Occupancy Certificate: The Local government agency or planning authority issue an occupancy certificate after carrying out inspections once the project has completed construction. It certifies that the project is ready and available for occupancy.
- Encumbrance Certificate: An encumbrance certificate contains all the registered transactions carried out on the property for the given period. It is obtained to prove that the property is free of any monetary and legal liabilities.
- Tax Paid Receipts: A buyer should ensure that the seller has settled all statutory payments and dues like property tax, water charges, cess, society charges etc. The tax paid receipts are obtained from the seller to confirm that there are no outstanding payments attached to the property.
- Other Documents
- Mutation deed for a change of title of ownership from the seller to the buyer.
- Home loan clearance documents and verification of financials.
- O.C from water and electricity board.
- Possession certificate which gets transferred to each new property buyer.
- A conversion order in case if the property has been converted from a residential one to agricultural land use.
It is advisable to seek help from an expert for vetting legal documents at the time of purchase.
Documents Table Mentioned Below
| Documents | Importance of Documents | Concerned Offices |
| Sale Deed | Transferring of rights from seller to purchaser | Sub-Registrar’s Office |
| Building Plan | This showcases the blueprint of the whole property | Municipal Authorities |
| Completion Certificate | This certifies that whole building is constructed as per approved plan | Municipal Authorities |
| Occupancy Certificate | This certificate certifies, mentioned building is for residential purposes | Local Government Agency or Planning Authority |
| Encumbrance Certificate | This certificate certifies there is no monetary or legal liabilities on the property | Sub-Registrar’s Office |
