Here is why you should consult a lawyer before buying a house

 Here is why you should consult a lawyer before buying a house

      Purchase a property that not only meets your requirements but is also legally approved so that you do not get into trouble later on

       In a bid to save some money, a homebuyer generally avoids appointing legal aid at an early stage.  However, is that a wise decision? At what stage should you introduce your personal, trusted lawyer?

Before booking a home

  Yes, that’s right, you need to consult a lawyer before even book your home.  Once you have visited the project and finalised your home, it is to talk to your lawyer.

  “The buyer would be enticed with several offers and discounts for on-the-spot booking; however, one should avoid it.  Gather as much detail about the project and show them to your lawyer, including the design plan, and project documents.  You may also consult an architect to verify if the project is of sound quality.”

So what is it you should look for?

. If you are buying a resale home, ask if the society will give you a NOC for the flat.  The chairman of the society will let you know if there are any overdue penalties/fines/maintenance charges for the flat you are buying;

.     Run the project by a bank, talk to your relationship manager, and ask them if you will be able to get a home loan (especially if the project is newly built or under construction) ;

  .      Check the track record of the developer, talk to people you know who have bought a home in other projects by the same developer;

    .     Run the project number through the RERA website and see if the project is indeed registered with RERA  and is safe to invest in.

                                                                                                                              

Sale agreement

Your sale agreement is a sacred document; it has all the details, along with the terms and conditions.  What you mention in the agreement will be ultimate and stand true in a court of law.  Thus, always run the agreement through your lawyer.

           “Sometimes, not often, developers fail to mention the date of completion, this is crucial and homebuyers should insist on it.  A layman may not notice this, but a lawyer would promptly point it out.  There might be an oral confirmation of the year, but there needs to be some kind of literature where the developer has committed to a date.  Sometimes this ambiguity becomes an issue for you in the court as there is no official promise made by the developer or it has not been mentioned in any document”.

During delays

“If the possession is delayed, immediately consult a lawyer.”

What can you do in case of a delay in delivery?

.     Approach the court: You can either file a complaint with RERA or with a consumer or criminal court depending on the case;

.       It cannot take more than three to four years for the lawyer to fight your case and get you either the money or the property;

 .        You must get a Completion Certificate (CC): Make sure that you get a CC from the developer when he does hand over a project after delays”.

What words should you look out for?      

 .         “Title:    Check if the title is ‘clear and marketable’. This tells you if there are any legal problems with the land or the project;

  .             Standard agreement:  Look out for words like “Standard Agreement” in your agreement.  Many times, there are terms and conditions that are added when the word standard agreement is missing.  For eg. you might not have any say if the property goes in for redevelopment; your right for the future FSI might remain with the developer and you won’t have the Transferrable Development Rights (TDR)”.

Thanks

 - TIMES PROPERTY