The occupancy certificate is one of the most important documents relating to properties. It is legally mandatory to obtain an occupancy certificate issued as occupancy without the occupancy certificate is illegal and the buyer of the property can be asked to evict the property.
You must keep the various documents of the property safe along with 2-3 sets of its photocopy. In cases wherein you have purchased the house by availing a bank loan, it is important to ensure that you take a few photocopies of the documents before you hand them over.
The most important stage of a property purchase is when the buyer receives the letter from the builder to take over the possession of the property. However, the buyer must ensure certain steps or verifications that the buyer should make.
The purchase of a property from the builder is a long process and the buyer must obtain various documents from the developer before taking over the property completely.
The complete law and legality concerning the sale of the property may vary from State to State. However, some of the permissions and documents that need to be obtained and provided by the seller are similar.
A letter of fit-out is an offer made by the builder or developer to the buyer wherein the buyer is permitted to carry out interior activities in the building. However, the occupancy is not granted to the buyer.
No law mandates the hiring of a real estate agent to facilitate the sale transaction. Despite the advantage that you can eliminate charges on the commission, it is often recommended that you hire a real estate agent to carry out the transaction as they can provide professional assistance that could solve the hassle and improve the quality of the transaction.
Selling a house can be a monumental task. Despite the advances in virtual fora and online platforms where you can simply post the best of your house pictures and the choicest of details, the downside is that there are several others doing this too.
A No Objection Certificate (NOC) is one such important document involved in property transactions. A NOC is a document that essentially proves the ownership of a person over the property.
Documents such as Occupancy Certificate (OC) and Completion Certificate (CC) must be obtained before buying a house. These documents are required when the person wants to mortgage or sell the property.