5 Checks to Remember Before Buying Property-converted (1)

1. 5 Checks to Remember Before Buying Property (Don't Skip 4th One) Real estate transactions may be profitable or unprofitable. A good property can make you a lot, while a poor one can keep you trapped for years with no profit or force you to take a loss to get rid of it. This is dependent on the research, future forecasts, and sometimes external considerations such as adverse government or court rulings or delays in megadevelopment projects. You cannot always make good choices as an investor, but you can reduce the chance of losing by doing your homework before making a final decision. If some of your nearest friends or family are into real estate investing, you can ask their advice before jumping in. Purchasing a home in Pakistan is a difficult and time-consuming operation. You must meticulously draught and file the relevant paperwork to effectively record the property sale and pass ownership to your name. After selecting a housing society, you have to consider some points to buy a plot or file. Besides, it will help you to deal confidently with Islamabad real estate companies. This checklist will help you complete the purchase process and pass ownership of the property to your name. Land Acquired (Cutting or Filling)? First of all, you have to check, on which area of society your plot is? The land mentioned on LOP is the same that you are going to buy. In a file, the case is a bit different, as the whole sector is not required but a specific area of a sector is required to have a file. On the other hand, while purchasing a plot, the area should be acquired. Moreover, the type of land is mandatory to check whether it is in cutting or filling? In Islamabad and Rawalpindi area especially these two types of lands are found on which builders in Islamabad are working. The only difference is that while designing the structure, your investment can be a bit more, as in filling land your structure can be heavy as the land is filling and it doesn't have a concrete base. Check Legal Status You should verify the legitimacy of the land you intend to purchase. Take the registration file to the registrar's office and double-check that the property is genuine. Then go to the property registry office in Patwar Khana and move the property to your signature. They'll walk you through any other paperwork you'll need to do while buying a home. Possession Area or Not?

2. Before buying a home, always conduct legal due diligence. Ensure that the land names are free of problems and that there will be no problems in the future. Examine the builder-buyer agreement thoroughly. Ownership (Single or Multiple)? It is preferable to have the dealer set up a meeting with the seller. It is best to avoid the contract if you believe your agent is attempting to avoid the meeting. If the owner is out of the country, you can ask the representative to arrange a meeting with him before you complete the transaction. Besides, you should know whether there is one owner or multiple owners of that plot or file. You can request a copy of the plot documentation for clarification before paying byana/token once you've selected a plot and agreed on an amount. You will proceed with confirmation payment after getting confirmation from the society office. Don't depend on the map; instead, search the plot's position on the field. If the area is undeveloped, use Google Maps to get a more accurate spot. Rocks and dense plots can be avoided. Make an effort to choose plots that are level. Choose top positions for better views if the place is on a hill. Market Value & Resale Value If your dealer has sent you a plot choice with a price requirement, look at other business choices. Do not contact any agent; this will cause a flurry of activity in the market, and you can lose your best options. Simply pursue one or two more agents, and search plot prices around your plot using online portals. Purchase sizes that are in constant demand. Even think about the brand you're going for. This will assist you in obtaining a successful resale value in the future. When purchasing a home, there are many factors to consider. All matters: location, critical and social amenities, construction efficiency, a title deed, and resale value. Before making a buying decision, you should take the time to thoroughly investigate all of these factors.