Who wants the property bought from their hard earned money to land in legal trouble? Before you actually pay for the residential house that you intend to buy, you should be aware with the type of legal factors that may affect the purchase.

It is important to assess the value of the property and the factors that come along in the process, such as property tax, paper work, inspections, title deed review, and many more. So if you are planning to create a checklist on your own, it might be a good idea to seek a professional advice first to know all the answers of your queries.

Magicbricks brings an array of events with industry experts under the banner of Advisory Marathon. Industry experts having rich experience in guiding property buyers on every step to make their lifetime purchase smooth and worthwhile.

Today, we bring, Ami Ranjan, principal associate, Dua Associates discussing on “Legal due diligence when buying a property”

Here are the key takeaways of the session –

1. For the property you buy, legal due delligence is a must to check property and developers’ backgorund

2. Check the land history with sub registrar by taking a close look at the original documents

3. Before buying a resale property, look at the purspose of selling it, building plans, legal documents

4. Checklist for buying a property: Builder’s reputation, title search, uses of land, building plan approval

5. In the case of Freehold property, the home buyer get complete ownwership, while in Leasehold property, you get ownership for certain time

6. To avoid legal hassle before you buy property: Check title documents and completion certificate