What to See Before Buying Property

In this world, there are 3 basic needs. Food, clothes and home. After food and clothes, everyone needs own home. It is one of biggest investment for those who is living on rental home. Because it requires many years saving fund, it is necessary to buy property with proper process. It will help you to reduce legal problems which you may face if you do not see important facts before buying the property.

1. There must not Any Liability Linked with the Property

If you are buying house property or commercial property, you must see whether any liability linked with same property or not. It should be free from legal barriers.  You can know its information from sub-registrar office. Sub-registrar will issue the debt-free property certificate. You have to get it before buying same property. For getting this information  this, you need to apply in Sub-registrar's office.

a) For this, you have to attach the photocopy of registry of property.
b) You have to give the survey no.
c) you have to give the address

You will get Debt-free property certificate within 15 to 30 days. If there is any loan on same property, you will not get this certificate and you can secure your investment.

2. Check Whether Building and Structural Plan had accepted by Municipal Committee or Not

Just go to your local municipal committee and see whether building and structured  plan had accepted by municipal committee or not. If not, you must not buy same property.

3. No Objection Certificate from Other Departments 

There are many departments which may have objection regarding your buying property. So, you first go to all these departments like environment department, PWD department, ground water department, railway and airport and forest departments and get no objection certificate.

4. Check Whether Property Owner has Paid all Electricity Bill on Due Date

Just go to your local electricity department and check whether property owner has paid all electricity bill on its due date or not. If not paid, it means, it may be in lacks with penalties. So, you have to pay. With this, your investment cost will increase. So, you can leave same property.

Because buyer is from middle class family, so, it is necessary, you must check all above points before buying his own property. With this, you can use your fund effective way.


Reference of Books 







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Accounting Education: What to See Before Buying Property
What to See Before Buying Property
Accounting Education
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