Resale Home Buying Guidance
- The thought of buying a resale home leads us to believe that it will come at a discounted price as compared to a new home. This may be true to some extent but there are various parameters along with various perils.
- At the first instant, we need to identify the age of the building and its current maintenance and upkeep. If we do not pay attention to this, we may end up regretting our decision. There are no set benchmarks for these, as a 20 year old building may be much maintained with periodic structural audits and external repairs done and a 10 year old building due to poor maintenance may be an eyesore. At Home guide, you will get our expertise accompanying you in all your endeavors and that without any cause for concerns.
- After identifying the property and being convinced about the decision to go ahead with the deal, we need to look into the nitty-gritty’s like the current and past ownership details and all the documents pertaining to these. Besides, there are other things like additional Property tax and Water tax bills, utility bills paid till the sale of property. Most buyers are alien to these aspects of legalities and end up paying for the property with having deficiency in their title and ownership documents and huge pending amounts to pay for. At Home Guide, we identify these and you end up taking an informed decision with absolutely no baggage.
- Before buying a resale home, you also need to look into the prospective additions and alterations that will be mandated, as the home has endured a passage of time and slowly eroded in its sheen. These repairs may be major sometimes, which the seller will conceal. With our expert vision, we at Home Guide identity these and ensure that the cost that you pay for the property along with the prospective renovating costs are within your scheme of things.
- Most importantly, in a resale flat, the transfer fee and transfer of ownership by way of inclusion of the current buyer’s name in the share certificate is something that is overlooked during the entire course of the transaction. We at Home Guide, ensure complete compliance and of course, peace of mind to our customers.
- Most importantly, we at Home Guide will be with you right through and will be available to you till you move into your dream home ………………………………………….. and beyond.
Resale Home Selling Guidance
- When you want to sell an existing home, the first question that arises is the price factor. Every seller wants a higher price for his property and every buyer wants to discount it. We need to arrive at a consensus for this.
- Identification of a proper buyer who has the resources is a major task in the current market situations where people have multiple EMI’S ongoing. So sourcing through loans should be done with caution.
- If the buyer is dependent on the sale of his existing flat to source his purchase, then there is a good chance that the deal might fall apart if the purchaser of the current buyer’s flat is delaying payment from his side. Due diligence need to be done on this vital aspect. In this case, the token amount in the absence of an understanding is forfeited.
- The transfer charges of the society, in the absence of an understanding are always split into half between the buyer and seller.
- Stamp Duty and Registration charges are to be borne by the buyer alone.
- Offering vacant and peaceful possession is also a major concern as some amounts may still be pending whereas the buyer may press for possession citing homelessness. We at Home Guide address all these issues to the satisfaction of our customer.
- One of the major concerns is the transition of the buyer into his new home. If the flat is vacant, then there are no concerns. If the flat is occupied by the current seller, then the vacating of the flat should be timely so as to enable the current buyer to move in with his belongings.