Things to remember while buying a resale house

There are some areas of buying a resale house which you must have to deal with. I would like to share that you have to check the condition of the building physically, the maintenance of the house and from how years it was made. You must make sure that the person is the true owner of the house or he/she has all the documents related to the house. In last you must make sure that there are no pending amounts on building that you want to purchase like maintenance charges, society charges, etc. At the time of buying a resale home, the seller is required to produce the entire ‘chain of documents’ since the beginning. If he is not able to produce the original documents, it is a serious problem.  So please make sure that he/ she has all the documents related to the house like Sale deed, mother deed, Encumbrance Certificate, Possession Certificate, Occupancy Certificate, etc.

Direct Benefits of Buying a Resale Home

• A buyer will not have to pay any kind of EMI or rent or both for an under-construction project as he can immediately shift to the new house.
• Resale flats are available at a cheaper rate and the prices are highly negotiable according to the age and condition of the property.
• You can also avail of the tax benefits on a resale house.
• On buying a resale house everything is in front of your eyes, there is no misrepresentation of the property limitations.

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Some things that make a good resale property

• The property should be 1 to 5 years old. Do not opt for a home that is older than 10 years or more.
• One that is close to important locations and is surrounded by all important amenities. Homes in well-established residential locales are perfect.
• You can find the record of the builder, who made this property to make sure the quality of the resale house.
• Choose for the ones that are being sold because of a transfer or because the owner is moving to a different country.

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