Property Buying

For Buyers of property in Chennai this appears to be a good time.

It is clear that current Realty market is Buyers market. With plenty of options to choose from and properties attractively priced, Buyers can make the best use of market opportunity.

Though the home loan interest rates are yet to come down it is imminent and once that happens Realty market will start buzzing with activity and it would be hard to find the kind of bargains that are available now.

Property Buyer will have to decide on the following crucial aspects to shortlist property-

1. Location

2. Budget

3. Size

Then Buyer can take the help of a reputed Real Estate Broker who can guide on the selection of the property and help identify right match based on the requirement and provide guidance through the process for a hassle free transaction.

3 Tips for Buyers of Land in suburbs

Buyers of Land especially in the suburbs have to exercise caution and should have a lawyer scrutinize the documents.

Buyers can also check the ownership by

1. Applying  EC(Encumbrance Certificate) at concerned SRO(Sub-Registrar Office) and checking the ownership records-Parent Documents & Sale Deed

2. Check with PLR (Permanent Land Register) with SRO

3. Getting the NOC(No Objection Certificate) from VAO(Village Administrative Officer)

Top 7 reasons why a Buyer should pay commission to a Real Estate Agent

1. The Buyer will be serviced by an Agent showing different properties suiting his requirement based on Buyer preference in terms of location, size and budget. This requires networking and coordination on the part of Agent.

2. The Agent will guide with writing the offer based on the terms expected and present it on behalf of Buyer.

3. The Agent assists Buyer at negotiation table as this would be very stressful to Buyers not used to negotiations.

4. The Agent will provide price guidance based on his upto the minute market knowledge. Most Agents work in a small territory where they can specialize and over the years accumulate knowledge which is not easy for a Buyer to acquire.

5. The Agent will help with documents and assists in getting all the required documents for legal scrutiny.

6. The Agent with his network can help Buyer with best source of finance based on his background.

7. The Agent will handle all liaison till registration and handing over of the property with parties involved.

Only when the deal is successfully closed commission is payable to the Agent.

It saves Buyer precious time, resources and helps in taking informed decision based on current market inputs provided by an Agent.

While it is true that few Buyers close the deal without the help of an Agent the deal may not have the market efficiency and dynamics brought to the table by an Agent.