Home Buying Tips: If you are thinking of buying your dream home, then you have to take care of many things. Check the validity of whatever property you are going to buy. In many cases related to property dealing, it has been seen that people get a full agreement made for the purchased property. In such a situation, you may have to face a lot of problems. Let us see what are the things that are very important to keep in mind while buying a property.
investment in property
Buying a property for any person is seen as the biggest investment in his life. People spend their lifetime’s savings to buy a house. In such a situation, whenever you are buying a property, be sure to know about it properly because many people become victims of fraud while buying a property.
Registry is required
Everyone has to pay stamp duty to the government for getting the property registered. The property is registered only after paying the stamp duty. But people do not pay stamp duty in order to save money, due to which even their property cannot be registered. In such a situation, your difficulties may increase. One has to pay penalty for getting the house registered late.
Avoid full payment agreement
Stamp duty has to be paid for the registry of the property, in order to save it, people get the full payment agreement made for the purchased property. But legally this is not correct. Full payment agreement does not confer legal ownership of any property. Due to not having a solid registry, you can be a victim of fraud at any time. Full payment agreement is for a fixed period only, which is made after the full amount of a property has been paid. To get the legal ownership of the property, it is necessary to get it registered. After registration, it is also very important to get the registration of that property rejected.
Can be a victim of fraud
The person selling the property may after some time claim his property in the absence of registry, which may increase your difficulty. In such a situation, to save money, making full payment agreement should be avoided.