The Three Step Approach to Buying Property The process of buying a property can always be divided into three phases namely: research, evaluation, and buying. And all these steps must be followed in this very order so as to get the best deal and buy a property that is free of legal complexities, is useful and profitable too.
Phase 1: Research This is the very first step that must be followed when buying property. Buyers must first start looking for an ideal property in places they wish to buy the property in. At this stage, the buyer must be very clear about his/her budget, the intended use of the property and the preferred location as these three aspects will eventually guide all the permutations and combinations that will help the buyer zero down on a property.
Phase 2: Evaluation This step starts after one has zeroed down on a few properties that they might like to buy. Whether it is a property for sale in Amritsar or that in Chennai or Kolkata; in this step, the involvement of attorneys or legal experts is extremely important as this is when the due diligence needs to be carried out. At this stage, the legal experts should check the title deed, the encumbrance certificate, the NOCs, the Khata extracts and all other related documents. In this phase buyers should also try to evaluate if they can actually afford to buy the property in question and discuss the same with their bank if they intend to take a loan and even check their personal finances to evaluate if they can afford to pay the EMIs.
Phase 3: Buying This is the deal closure stage and involves monetary transactions. The buyers should thus be very careful with the transactions and pay only after being doubly sure about the legitimacy of the deal. Also, there should be proper written record of the transactions so there can be no discrepancy later on.
Advance India Projects Limited: Offering the best deals on properties in all of North India
AIPL is a premiere real estate development company that has world-class properties in different parts of North India. Be it a property for sale in Amritsar or that in Ludhiana, AIPL can be trusted for the most legitimate deals and the best properties in prime locations.
AIPL Dreamcity, Manawala, G.T. Road, Amritsar, Punjab 143115 Tel: +91 - 92111 60000 Website: https://aipl.com Email: connect@aipl.com