Ideally when you are taking documents from owner you just need to pay 5k as token advance for getting his documents and another 2K to 5K for verifying it with lawyer...
If the documents provided by owner has some issues then you can reject the property, but remember the token advance you gave to owner will go for toss in many cases and usually they dont give it back..so bee careful..
You are going to lawyer before applying for loan just to ensure the safety of your initial sale agreement amount..
Real hard facts for buying Plot in Bangalore
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pursh_bennur
- Posts: 45
- Joined: February 28th, 2011, 9:58 am
Re: Real hard facts for buying Plot in Bangalore
First thing is to set the Expectation clearly tht once legal verification is successful then only
You would enter into sale agreement, so yu pay token advance and whic should not be more
Thn 5000.
Then go and approach lawyer and give him all the documents, he would normally verify title of the property, genuineness of all documents for ex he would take copy of khatha to BBMP or BDA or whosoever has provided khatha to the current owner, one more verification which I heard tht Lawyers of Nationalised bank do is do is they will get the certified copy of the current sale deed ( this takes more time) frm the respective sub registrar office,
This approximately takes at least 7 to 10 days for lawyer to verify
After he gives a green signal then yu could take his help for drafting of sale agreement. Remember the owner or agent will always say they are in urgent or there is some other buyer is there but yu should be sticking to a point tht legal clearance is must for yu, then only if yu go for bank loan then yur processing fees for bank will also be saved! So spending time on legal verification initially is a good approach
You would enter into sale agreement, so yu pay token advance and whic should not be more
Thn 5000.
Then go and approach lawyer and give him all the documents, he would normally verify title of the property, genuineness of all documents for ex he would take copy of khatha to BBMP or BDA or whosoever has provided khatha to the current owner, one more verification which I heard tht Lawyers of Nationalised bank do is do is they will get the certified copy of the current sale deed ( this takes more time) frm the respective sub registrar office,
This approximately takes at least 7 to 10 days for lawyer to verify
After he gives a green signal then yu could take his help for drafting of sale agreement. Remember the owner or agent will always say they are in urgent or there is some other buyer is there but yu should be sticking to a point tht legal clearance is must for yu, then only if yu go for bank loan then yur processing fees for bank will also be saved! So spending time on legal verification initially is a good approach
Re: Real hard facts for buying Plot in Bangalore
See the latest finding on buying guideline for properties in bangalore http://www.mybdasites.com/viewtopic.php?f=12&t=5038
Re: Real hard facts for buying Plot in Bangalore
Thanks and good useful to all plot seekers...Really i faced same problems...middle man buys land as 3 months sale agreement without registration then sales within 3 months to other party on higher prices, they will get 5-10 lakhs....in bangalore the clean and professional guy will not survive to purchase property...for NRI its too diffcult...its not only middle man, even BDA approved properties having court cases like NTI layout Ph-II, then what else you can buy?????