Buying Process
01
Introduction
An introductory meeting between the prospective buyer and seller. The seller, usually the developer or investor or existing owner, is often represented by an agent (agency).
02
Document verification
After physically & visually seeing the property, it is at this stage that the documents are presented and seen. Be it for an under construction property or a ready to move-in property (Either new or resale property), it is here that the prospective buyer gains additional information of the property she/he intends to buy.
03
Sale agreement drafting & execution
Under Maha RERA, developers are now instructed to sell properties based on carpet area and not super built up area. In the event that the project has been delayed, buyers are entitled to get back the entire money invested or they can choose to be invested and receive monthly investment on their money.
04
Home Loan
This is an optional but usually considered step in the buying process. Various eligibility checks and documents to finalise the procedure incorporate this process. The agent usually assists the buyer for this.
05
TDS
Here, the buyer as per Income Tax Act. has to deduct TDS for buying property more than INR 50lakhs. At Prime Realtors, we help our buyer/s extensively by provisioning the right consultation to them.
06
Stamp Duty & Registration
Based on consideration or market value, the buyer has to pay applicable Stamp Duty as well as registration charges. Our dedicated team is updated realtime of market changes and thus proactively help the buyer in this process
07
Sale Deed
The sale deed is a legal document that contains details of transfer of property ownership from a seller to a Buyer. This is one of the most valuable legal documents while purchasing or selling a property. It is executed at the time of actual transfer of property ownership at a sub-registrar’s office. This document needs to be registered mandatorily and is governed by the Registration Act.