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Important Documents that Need to be in Your Home Buying Process

Important Documents that Need to be in Your Home Buying Process

For the first-time buyer, the process of owning their home may be somewhat daunting and tricky. One of the critical aspects of buying a home is the documents that need to be obtained. Eight of these important documents are as follows:

Sale Deed – This essential legal document contains evidence of the sale of the property and its subsequent transfer. The document details the transfer of the home from the seller to the buyer.

Agreement of Sale and Purchase – This document is a list of the terms and conditions that the seller and buyer have agreed to. This can include the price of the home that has been agreed to by both parties.

Mother Deed – This legal document traces the property ownership and is required by banking services for the disbursement of home loans.

Building Approval Plans – Before commencing construction, a builder is legally required to acquire necessary documentation that includes building and layout approvals. It is imperative to check that the builder is meeting the terms of these documents to avoid legal hassles.

Completion Certificate – Also known as the occupancy certificate, this document states that the building has been constructed in keeping with the laws. The document is a prerequisite to avail of utilities, including electricity, water, and drainage.

Possession Letter – This document by the developer states the buyer’s date of possession of the home. The document is created after the completion certificate and is made out in the builder’s name.

Khata Certificate – This is a legal revenue document that details the property, its size, location, area, etc. This critical document is used for the purpose of property tax payments. The Khata is required to apply for electricity and water connections.

Allotment Letter – This document includes details of payment for booking a home under construction. The document specifies the total amount to be paid by the homebuyer.

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