{"id":4408,"date":"2018-02-26T14:35:39","date_gmt":"2018-02-26T14:35:39","guid":{"rendered":"https:\/\/www.waveestate.in\/blogs\/?p=4408"},"modified":"2018-09-07T11:42:46","modified_gmt":"2018-09-07T11:42:46","slug":"what-all-documents-are-required-for-buying-a-resale-property","status":"publish","type":"post","link":"https:\/\/www.waveestate.in\/blogs\/what-all-documents-are-required-for-buying-a-resale-property","title":{"rendered":"What all Documents are required for Buying a Resale Property?"},"content":{"rendered":"<p><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\"><a href=\"https:\/\/www.waveestate.in\/\">Purchasing a home<\/a> 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:<\/span><\/p>\n<ul>\n<li><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\"><strong>Sale Deed: <\/strong>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.<\/span><\/li>\n<li><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\"><strong>Building Plan: <\/strong>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.<\/span><\/li>\n<li><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\"><strong>Completion Certificate: <\/strong>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.<\/span><\/li>\n<li><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\"><strong>Occupancy Certificate: <\/strong>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.<\/span><\/li>\n<li><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\"><strong>Encumbrance Certificate: <\/strong>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.<\/span><\/li>\n<li><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\"><strong>Tax Paid Receipts: <\/strong>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.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\"><strong>Other Documents<\/strong><\/span><\/li>\n<li><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">Mutation deed for a change of title of ownership from the seller to the buyer.<\/span><\/li>\n<li><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">Home loan clearance documents and verification of financials.<\/span><\/li>\n<li><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">O.C from water and electricity board.<\/span><\/li>\n<li><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">Possession certificate which gets transferred to each new property buyer.<\/span><\/li>\n<li><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">A conversion order in case if the property has been converted from a residential one to agricultural land use.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">It is advisable to seek help from an expert for vetting legal documents at the time of purchase.<\/span><\/p>\n<p><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\"><strong>Documents Table Mentioned Below\u00a0 <\/strong><\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"108\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\"><strong>Documents<\/strong><\/span><\/td>\n<td width=\"322\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\"><strong>Importance of Documents<\/strong><\/span><\/td>\n<td width=\"196\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\"><strong>Concerned Offices<\/strong><\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"108\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">Sale Deed<\/span><\/td>\n<td width=\"322\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">Transferring of rights from seller to purchaser<\/span><\/td>\n<td width=\"196\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">Sub-Registrar&#8217;s Office<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"108\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">Building Plan<\/span><\/td>\n<td width=\"322\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">This showcases the blueprint of the whole property<\/span><\/td>\n<td width=\"196\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">Municipal Authorities<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"108\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">Completion Certificate<\/span><\/td>\n<td width=\"322\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">This certifies that whole building is constructed as per approved plan<\/span><\/td>\n<td width=\"196\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">Municipal Authorities<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"108\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">Occupancy Certificate<\/span><\/td>\n<td width=\"322\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">This certificate certifies, mentioned building is for residential purposes<\/span><\/td>\n<td width=\"196\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">Local Government Agency or Planning Authority<\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"108\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">Encumbrance Certificate<\/span><\/td>\n<td width=\"322\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">This certificate certifies there is no monetary or legal liabilities on the property<\/span><\/td>\n<td width=\"196\"><span style=\"font-family: helvetica, arial, sans-serif;font-size: 14pt\">Sub-Registrar&#8217;s Office<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<div id=\"themify_builder_content-4408\" data-postid=\"4408\" class=\"themify_builder_content themify_builder_content-4408 themify_builder themify_builder_front\">\r\n\t<\/div>\r\n<!-- \/themify_builder_content -->","protected":false},"excerpt":{"rendered":"<p>Purchasing a home is probably the most important investment decision [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":4409,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[39],"tags":[52,94,93,49],"class_list":["post-4408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-residential-projects","tag-commercial-property","tag-purchasing-a-home","tag-resale-property","tag-residential-property","has-post-title","has-post-date","has-post-category","no-post-tag","has-post-comment","no-post-author"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.waveestate.in\/blogs\/wp-json\/wp\/v2\/posts\/4408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.waveestate.in\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.waveestate.in\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.waveestate.in\/blogs\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.waveestate.in\/blogs\/wp-json\/wp\/v2\/comments?post=4408"}],"version-history":[{"count":5,"href":"https:\/\/www.waveestate.in\/blogs\/wp-json\/wp\/v2\/posts\/4408\/revisions"}],"predecessor-version":[{"id":4561,"href":"https:\/\/www.waveestate.in\/blogs\/wp-json\/wp\/v2\/posts\/4408\/revisions\/4561"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.waveestate.in\/blogs\/wp-json\/wp\/v2\/media\/4409"}],"wp:attachment":[{"href":"https:\/\/www.waveestate.in\/blogs\/wp-json\/wp\/v2\/media?parent=4408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.waveestate.in\/blogs\/wp-json\/wp\/v2\/categories?post=4408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.waveestate.in\/blogs\/wp-json\/wp\/v2\/tags?post=4408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}