In this digital era, Buying a Property Online is quite an exciting thought. E-Commerce is now running into our bloods. When builders are struggling to sell through traditional channels, Buying property online seems to be last ditch effort from builders to push sales. There are no geographical boundaries, convenience, ease and speed makes it win-win situation for both buyer and the builder. Before i proceed, let me clarify that you are not buying a property online but only booking the same. Booking amount paid is non-refundable and it seems to be the commission of E-Commerce player for ... Read More
Encumbrance Certificate
Encumbrance certificate or most popularly known as EC is one of the most critical document for property purchase. In my post on Checklist of Property Documents i briefly discussed about EC but considering the importance of same, it deserves a separate post. Encumbrance Certificate certify that there are no dues on property both Mortgage and Legal & the title of the property is clear and marketable. It contain all the transactions in respect of the said property. Encumbrance is basically a Charge / Liability / Lien which is created on the property, which is held as a collateral or security ... Read More
Checklist of Property Documents
Checklist of Property documents is very crucial step of property purchase process. Property transaction in India is document intensive exercise because of complex legal, statutory and regulatory framework. Based on queries received from my clients, i can conclude that approx 80% buyers don't get complete property documents at the time of purchase. These buyers struggle at the time of sale of property. Another problem linked to property documents is that buyer or a seller is not aware why specific property document is required, whether it is required in original or not etc. To help readers of ... Read More