You must have physical and eye inspection of property to purchase. Have you gone through the inspector s remarks on all the work that needs to be done before any purchase deal. Then Call a civil or interior contractor to home repair or store to see how much it will cost you to put the property to be bought in the shape you want to look. Renovating any property may be hugely expensive and highly risky affair, so make sure you must get estimates for the renovation work before you decide to move forward with a purchase deal.
Write down your investment options
If you are buying an investment in residential and commercial property, it becomes very important to write down all about your deal for comparison. It becomes important to know whether you are having a good deal if you have not done the math and compared it to other opportunities than it me become a financial trap.
Always check to see whether a Insurance can issue a insurance policy for the property to be purchased in future. What will be the cost of insurance policy.
Always visit and review the documents to avoid Housing societies in disastrous shape and defunct or have significant construction issues with the regulatory authorities. This is actually a very difficult and complicated task, but you want to buy a property for profits and don’t want to a total mess.
Title insurance & plat
Have you gone through the title abstract and insurance policy of the property in question? The title abstract will help you to see if there any issue with the property to be bought in future. Visit and talk to the lawyer to help you review the documents. Also look at the plat of the property, have the easements plotted by title and walk the property for encumbrances.
These are the just a few of the many things that make up due diligence when buying real estate property in Delhi NCR. Always do these things before you close your escrow on the property? If you fails to do the proper due diligence, problems might arise that were preventable.
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