Nowadays, several lands are available for sale but buying land is a complicated task. Despite being a seller or buyer you need to provide various documents and follow many procedures to buy or sell a land. Easy and quick selling or buying of property is available at https://www.h3homebuyers.com/sell-land-fast-ohio/.
Over time, plot deals have become complicated due to new regulations in cash payments, fake documents, etc. Nowadays, empty land is rare in major cities but land and an available in peripheral zones of big cities and towns. Today, in this article, we will have a look at some important points to cover while selling or buying a property.
The process to buy land:
There are several factors to look at while buying a property. The processes include:
- Documentation process: the most important process is the documentation process. You need to keep all the documents in handy. The documents include:
- Land deed: the initial step after deciding to sell the property is to check the title deed. You need to check whether the title is in the name of the seller which gives the rights to sell the property. You can get legal help to confirm the property is marketable legally.
- Encumbrance certificate: you can get the encumbrance certificate from the sub-registrar’s office. The certificate will provide you information with on unpaid taxes, legal issues, etc.
- Tax receipts and bills: you need to receive all the original bills and receipts to confirm whether the payments are up to date.
- Loan papers: if the land you are going to buy has a mortgage, you need to check the loan papers. Also, you need to get a release certificate from the bank. You need to check the exact valuation of the property according to the market rate.
- Documents required from the buyer:
- After the name transfer the title deed.
- Stamp duty payment receipts.
- Building plan approval.
- Documents required from seller:
- Original land deed.
- Encumbrance certificate
- Original tax bills and receipts.
- Release certificate from bank.
Overall,
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