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Noteworthy things to keep in mind before selling your home

Do you know what should you consider before selling a home?



There are plenty of properties bought and sold in a year. A huge number of buyers and sellers are constantly buying properties under sale and putting their existing villas for sale in OMR and other locations of Chennai. As a homebuyer, there are certain aspects you definitely look into. When buying, you should focus on the condition of the property, price, and rate of rent, size and so on. Lack of this basic knowledge and research on the property might result in severe disappointments in the future. You will also require some cash for down payments and deposits, and the additional charges before purchasing the home of your dreams.

To make it even simple, research about the developer, and know the true value and demand for properties in that location as well. This will make sure you can sell off the property when you want in the upcoming years. In most cases, you might step into either of these two options, revamping the house, or selling the property. On the flip side, people leave these homes for rents to multiply their stream of steady income. To say simple, leaving the properties for monthly rents means cash-flow is endless.


Here are a few important things to check while announcing the property for sale



1. First, you should get a NOC (No Objection Certificate) from the housing society like a township to sell the property without any further misconceptions.

2. It is also necessary to get a ‘no dues’ certification from the housing society.

3. You will also need to produce a disclosed sale deed. This should contain the proof of stamp duty payment, registration and other related documents while transferring the rights of the house to the buyer.

4. You will also need to get a no tax certificate that shows that the seller has the complete right and title in the property. It should show that the property has a clear and saleable title.

5. It is extremely necessary to get the original certificate which has been issued by the housing society. This shows that the seller is also a part of the housing cooperative society and shares a hand out for the property.

6. The building plan or floor plan, occupation certificate is also necessary that is issued by the experts.

7. It is difficult to sell the property at the rate which is lesser than the current market value. Because the stamp duty value is considered in charging capital gains tax.

As a homebuyer, make sure that the seller has all the papers mentioned above handy. If the seller doesn’t have any of these documents, you might find it extremely difficult while selling off the property in future. Besides these factors, it is also good to check out the reputation of the developer and ensure if it is a prime location or not. Because most of the homebuyers only prefer purchasing properties that are located in the prime location. So making sure that the property is located in a place where it has a better connectivity and is nearby to reputed schools, universities and hospitals. There are a plethora of housing units emerging in the cities, so keeping these things in mind would help you spot the best flats in OMR Chennai, Bangalore, and Hyderabad and so on.


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