Today in this article we will tell you some of the principles of buying property on installments. As the countries improve, the economic situation has increased the pressure on property operations. Up until yesterday, areas called suburbs of the city, have now joined the cities. And a large number of people are privileged to live there because of modern housing societies. According to a report, in many countries there are lacks 9 million homes.
Can we Buy property on Lump Sum:
Property prices are expected to rise as populations grow. According to a survey, the largest property portal said property prices have risen 118% in the last five years. Taking a home in the middle of the city can be a common dream. On the other side, home prices are high enough to become a picture of a well-paid worker. And if it comes to taking a plot at a lump sum price, that is not easy either. The solution to this problem is to get the property in installments, or to sell the houses by modeling. These models are being built and sold for success. That those who could not pay a single price, accepted this model. Under this model you book your plot, and then pay the installments by default method. You become the owner of this place with payment of episodes. Apart from the plot, the model of houses and apartments is also available in most countries. However, the most popular and accepted episodes have been plotted.
It was also seen that many builders understood the compulsion of the people, and then the money was diverted. Since the people did not know that much at that time. So the cheating process became easier for them. In view of this, several proposals from several property dealers were offered, which we will tell you in today’s article.
By following them, fraud can be avoided.
- Nowadays it is very common that builders and developers announce plot files. The sale of these files is not an illegal act. However, caution is needed in this regard. First of all, make sure that the file you are buying, builders developers should have that land as well. If it doesn’t have one, don’t go. In addition to the project, other problems may be encountered in the future.
- Then the second important thing is to take care of this as well. That the announced project must be approved by different authorities, and NOC exists.
- The third important thing is that the developer of the society in which you are taking the plot, should have enough money to build this society. Otherwise your investment is likely to be frozen as well.
- The most important thing about getting a plot on installments is its terms and conditions.
- Do not believe in verbal words. There is no need to trust even the deception, the promise, of the era. Only believe it, which is legally acceptable. Consider the terms and conditions.
- Don’t make a hasty decision.
- On the contrary, you should contact your educated colleagues. Remember that the return door closes right after you sign the legal document. And then you are obliged to execute this document. Be aware that sometimes you are also obliged to pay a premium amount.
- It should be ensured that you are not being bound to secret payments in the name of processing fees, transfer fees, development fees, or other such terms. And all the terms are perfectly transparent. Find out more about the past of the developer who is encouraging you to plot the installments.
Also, keep in mind that the documents you are being given. It must be approved and certified by other relevant authorities, including the Authorized Builder. Do not be fooled or duped. And when you go to submit an episode, the secret is revealed to you that you have been cheated. Buying land is certainly not an easy task, but with a little attention you can protect not only your accumulated capital but also the future of your family.