What You Need to Know About Property Sales in Bangalore
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Posted by :
on | Sep 30,2013
There are a lot of I's that need dotted and T's that need crossed when you buy property in Bangalore. As you work through the different property sales in Bangalore, you will realize that there are rigid ramifications put in place for buying property. Here, you will discover the process of how a property sale in Bangalore works.
Sale Deed Registration Process
The first thing you will need to do is register the sale deed. Unfortunately, if you are not familiar with the laws of property sales in Bangalore, this could be very difficult, as they vary from state to state in India. Some of the requirements that are mentioned in the sale deed registration include terms for payment, payments, stamp duty, transfer title of property, registration, and arbitration. You would need to have all this sorted out prior to getting the property sold or prior to purchasing property in Bangalore.
One of the most important aspects of a property sale in Bangalore is to determine if a land contract exists. This is actually pertinent to the process, and is an agreement between the seller and the buyer. It states that the seller will keep the property until the payments are made from the buyer in the period of time that was agreed upon by bother parties. This could be a lump sum payment, or monthly payments. Either way, the land contract must be written and signed by both parties. The land contract would need to contain specific details about whether or not the seller has a mortgage on the property, and that the mortgage will continue to be paid if that is the case.
Another important document that is the responsibility of the buyer is checking to see if there is an Encumbrance Certificate of the property. This needs to be obtain from the Sub Registry Office, and will state that the house is indeed for sale. It is important to check all the rules and regulations when buying property in Bangalore. If you have any questions about the process, it is best to contact a professional, as there are more rules and documents needed that what have been listed here.
If you have decided to start developing in Bangalore and are looking for property sale in Bangalore, look no further than Cornerstone. They are the leading real estate company in the area. Contact them today at +91-80-4335999.