Buying a home is everyone’s dream and one of the most important decisions of your life. It is possibly one of the biggest investments you make in your lifetime. Hence, it is vital to look at all the intricate details when you purchase a property. Following are ten tips you should look out for when you buy a home.

1. Commandments
For Cracking The
Right Property
Deal
10

2. “
Buying real estate is not only the
best way, the quickest way, the
safest way, but the only way to
become wealthy
”
Marshall Field

3. Buying A Home
Is One
Of The
Most Important
Decisions Of Your Life

4. Make
The
Right
Decision

5. “
#1
Do your
research
well

6. Doing considerable background
research on the potential
property increases the chances
of a profitable purchase

7. Before making an agreement check
- The neighbourhood
- Crime rate
- The Age of the property
- Features of the property

8. #2 Get A Buyer’s Agent

9. If you are buying a property for
the first time, involve a
real estate agent rather than
going for private buying

10. The buyer’s agent should
- Have thorough knowledge about the area
- Should be considerate about the buyer’s
requirements
- Competent enough to negotiate on your behalf
with the seller or seller’s agent

11. “
#3 Think Long Term

12. Real estate is a long term investment
and be prepared to bear the expenses like
- Maintenance charges
- Property tax
- Mortgage burden

13. #4 Get all the information you need

14. Demand for the disclosure of the complete
information about the property.
This may include
- Information regarding electricity and water
supply
- Materials used for building construction
- Municipal rates
- Maintenance cost

15. #5 Compare market prices

16. Get the market price comparison analysis
report by a real estate appraiser before
making an offer.
This will help you in analysing the right price
of the property and negotiate well with the
seller.

17. #6
Have you got your
Agreement letter
and
Allotment letter ?

18. The Development agreement contains
details regarding the terms and
conditions on which the landowner has
permitted the builder to do the
development on his property

19. The allotment letter contains the clauses
regarding the builder’s liability in case
of problems after possession or delays in
construction situation, agreed price,
construction and payment schedule

21. #7 Involve A Lawyer

22. Legal documents are quite difficult to
understand and sometimes have some
confusing clauses.
To avoid any surprises consult a lawyer of
your choice to secure the legitimate and
finance documents.

23. #8 Choose your banker

24. Ask the bank financer to provide the true
value of the loan and the full details
regarding the terms and conditions of the
loan and ensure there are no hidden
charges involved

25. #9 Check the Sale Agreement

26. Once you have decided on a property that
satisfies your requirements after inspection,
read the settlement statement thoroughly to
check if it holds any clause which dissatisfies
you prior to closing the deal

27. #10
Before
property
handover do
another final
check!

28. Before releasing the final payment to the
builder/seller you have full rights to inspect
the property yet again.
We advise you to hire an authorised personal
to do a thorough inspection of the property.

29. Check out the
10 Essential
Tips That Every
Home Buyer
Should know

30. Find
Your
Dream
Home

31. CommonFloor.com is India's leading property search portal.
On a mission to make property search hassle-free, transparent and fruitful;
CF has best of breed property search on maps, property search mobile apps and
an extensive section for knowledge resources and advice in real estate.