Protocol to be followed while buying second hand flat
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Is this the process as follow
1 get ecs to check if owners are true owner
2 transfer advance amount
3 get sales agreement. In agreement mention amount was transfer and mention registering date
4 1 week before register date prepare sales deed document
5 get ecs again checked
6 transfer remaining amount
7 get government register cost demand draft ready
8 go to registrar office with demand draft and owner
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vastu
you can approach a law firm that can do title search and give you the title chain. if there is any gap in the title you should avoid the transaction, if you're opting for bank loan the bankers are generally strict and do their own due diligence.
Which bank does this proper check
assumes that you have taken care of genuity of the original /parent deed ,other documents
also assumes that you have taken care of any dues in taxes, society arrears etc,checked parking allotment letter etc
also assumes that you have taken care of the structural integrity of the building
3. exact date avoid. indicate a time frame. in case you cant make it on the due date
the agreement can become void and forfeiture of advance amount
6.Make the final payment as close to the registration time.
Is bank/loan involved?
Yes
A must check 😜