With increased incomes, more and more people are trying to find lucrative ways of making money through realty investments. Since, the value of a property increases with time, it is considered to be one of the most beneficial ways of ensuring futuristic monetary gain. However, there are a number of things to be considered while buying a property. So, if you are planning to invest your hard-earned money in a real estate property, then you must check out the following tips:
- Marketable Title Make sure that the property you are taking interest in, has a proper Marketable Title. The claimant of the property should have all the rights of the property to his name. Moreover, get the original deed of the land examined by a professional lawyer.
- Encumbrance Certificate The next step is to make sure that the land papers include Encumbrance Certificate. It is a certificate issued by sub-registrar's office declaring that the land is free from any legal dues or other issues.
- Suitability Find out that whether the land suits your requirements or not. For example, if you are buying a plot for constructing a house, then make sure that it is well connected to the city and the area has adequate supply of water, electricity, etc
- Permit By Authorities Ensure that constructing a building on the land is permitted by relevant authorities. You must make sure that that the road around the land is regularly maintained by a local authority.
- Construction Or Investment Think and decide that whether you are buying the land for constructing a home or you are considering it as an investment. The purpose should be clear. It will help you tremendously in fixing a deal as you would then look out for specific requirements.
To summarize it all, do not hurry in fixing a property deal. Check out all the necessary details and then, invest your valued money in a real estate property.