The process of plot for sale in chennai is just the same as purchasing an entirely new one. From finding a buyer through to the signing of the sale contract, one must exercise extreme care to get the most value.
To assist you in doing the above, MakaaniQ provides some suggestions.
Assess the value for your homeIt is the first thing to do. determine an accurate appraisal for the home. You can do it yourself or consult an outside source to assess the real value. The current market price within the vicinity for similar properties is a good basis for determining the value.
Next step finding the right buyer. Be sure not to infuriate the buyer by demanding excessive amounts of amount of money in exchange for your property. When you’ve reached an agreement on the price with your buyer it’s essential to examine the credentials of the buyer on the basis of his background, financial capability and trustworthiness.
Inform the body that is in charge
Once you are satisfied with the credibility of the buyer After confirming the buyer’s credentials, the second step will be to inform to the administration of the housing association that you plan to sell the house. Additionally, you must be able to obtain the no-objection Certificate at the direction of the society.
Legal documents
It is now time to get started by completing the legal documents that will be required for your property. To do this, make your appointment to meet with the Sub-Registrar in order to register the property under the name of your buyer. Both the seller and buyer have to be present on date of execution of the sale deed, be sure that the date is appropriate for both parties.
Documents like these are essential for preparing to independent house for sale in chennai.
A letter of allotment
This is an legal document which grants the right to allot an asset to the owner who originally bought it from the appropriate body or society.
Prior sale deeds
All original sale deeds of all past owners who owned the property were required. This will help identify the chain of title for the property. A property that has clearly documented title and documentation commands an increased cost. Another document that is important is the history of previous agreements with owners of the past in the original document, together with the original registration receipts as well as the initial letter of allotment given at the time of the original owner’s purchase by the authority responsible for development. The seller must have an authentic sale document. It is required by law that the current owner has all previous agreements. The seller has to sign the original deed with the register (i.e. the original deed which was recorded by the registry) and provide copies of the sale as well as an invoice from the subregistrar. A copy of this will establish the owner of the property. In the event of a few papers missing, the owner is immediately alerted.
Sanctioned Plan:
Copies of the approved building plan as well as the occupation certificate issued by the municipal authority in your area are also relevant documents.
Certificate of Encumbrance:
A seller should ensure that the property that he intends to sell is marketable and clear title, in order that it will achieve a decent market value. You shouldn’t deceive the buyer by providing incorrect information, which could result in legal issues at a later time.
Sale agreement
When all of the paperwork have been prepared after which the parties may sign an agreement for selling and set the terms and conditions that they have agreed to. By using this agreement as the basis for a sale deed, it can be drawn. The sale agreement will precede the recording of a sale warrant on an nonjudicial stamp paper.
