HOW TO PUT ALL THE PAPERS IN ORDER BEFORE SELLING A PROPERTY

Want to buy a new home in Coimbatore but need to sell your old one first? In major metro cities like Coimbatore, residential real estate unquestionably sells like hotcakes. But are you wondering how to get down collecting the essential documents you need to sell your property? Don't worry we are here to help, read through this guide and you will soon be a pro at this like us!

Let's look at the documents required

These are the documents required to sell your property

- Housing society share certificate

- Sale/purchase deed

- Previous deeds

- Stamp duty copies

- Registered house documents

- NOC from the housing society

If the land is in the seller's name and only that person has the full authority to sell the land, the sale document will indicate that. If necessary, you need a copy of earlier documents to verify the legitimacy of the transaction and the property. Stamp duty and registered house paperwork must also be provided in their original forms. Additionally, the seller will need a NOC from the housing society.

Allotment letter - One of the most important documents you need to have is the letter from the appropriate group or body granting you the allotment of the property.

Sale deed- When you are selling a property, you must have the original conveyance or sale deed from the prior owners. You must submit a copy of the conveyance deed or sale deed together with a photocopy of the receipt from the Sub-registrar where the documents have been deposited for registration if you have already submitted the original deed to the Registrar for registration.

Sanctioned plan - Additionally, a copy of the approved building plan and the occupation certificate issued by the appropriate government are required

Society documents - A competent authority, such as a society or a development authority, must grant permission to transfer the property when you are selling your home. The buyer has the right to request the original stamped receipts for all payments made by the previous and current sellers to the builder or developer.

Encumbrance certificate - In real estate transactions, the encumbrance certificate is used to show free title. The buyer wants to ensure that there are no outstanding legal obligations before purchasing a flat, a piece of land, or a home.

Sale agreement - After the documentation has been completed, the parties can sign a sale agreement and approve the terms. They can then sign the sale deed based on the selling agreement. On non-judicially stamped paper, the sale agreement is signed and sealed by the buyer and the seller.

Now let's see how to file for missing documents

Older homes frequently lack proper registration. In these situations, it is desirable for the owner to settle any unpaid stamp duty before applying for registration. The intended seller should ask the housing society to issue a replacement share certificate if one is missing. The seller must provide an indemnification bond and a letter of affirmation from the housing society if the sale or purchase deed and or chain of agreements or deeds are lost. Similarly to that, if the original copies of the stamp duty and registered house documents are not accessible, the seller must provide an indemnity bond.

Now moving on to the evaluation of the property

The price of comparable properties in the same area, the view from the apartment, the amenities offered by the building, and general market trends in terms of appreciation and depreciation are just a few of the variables that affect a property's worth. Acquire the property evaluated by two to three brokers in addition to verifying with your neighbors to acquire a reasonable estimate.

Other clearances before the sale

The exact information regarding the age of the building, the floor plan, the carpet and built-up area, the conveyance of the society, the status of the parking spaces, the land title, and the transfer fees of the building and the flat must be attended to in addition to the title clearance and NOC from the society.