Procedure of buying a resale flat - Indian Real Estate Forum

aviraj · 04-09-09

Can anyone explain in detail the process of buying a resale flat. What is the role of the lawyer, at what stage should he be engaged, documents required from seller etc

sysumesh · 05-09-09

You need following main Document from Flat Owner :

1. Copy of Flat Purchase Agreement between owner and Builder.
2. Statement and NOC of Home loan if any.
3. NOC from Society if formed else NOC from Builder.
4. Electric Bill and Property Tax bill.
5. Serach and Title report of proerty which will done by lawyer.

Aprt from that you can contact banker who provide home loan to you. they will verify all the document related to that property.

aviraj · 07-09-09

- Is NOC required from builder if the seller has already got the possession letter? (society is not formed yet)
- The electricity meter would be in the sellers name. How much approx would it take to get it transferred to buyers name. What if electricity bill has not started coming yet
- Again what if property tax has not been paid yet?

techieguy_98 · 17-09-09

What if the owner of the flat has used the flat as collateral (only if the flat was purchased without a loan ) ?????

Also is the process mentioned in the above post complete and thourough ?

aviraj · 23-09-09

After buying a resale flat what is the procedure to transfer the electricity meter to ones own name and how much does this cost? Should this charge be borne by the buyer or the seller? What documents will be required from the seller for this change?

Similar question on transfer in case of pipe gas connection too.

avinasht · 13-01-10

FOR RESALE FLAT TO CHECK ( DOCUMENTS )

1. Original Share Certificate.
2. Original Agreement with Stamp Duty paid as per market value.
3. Society’s N.O.C.
4. Transfer charges to be confirmed.
5. If Broker, brokerage should be confirmed.
6. If Advocate, fees should be confirmed.
7. Stamp Duty will be as per the Agreement Value or Market value whichever is higher (As per Government Market Value Reckoner).
8. Registration is necessary.
9. Possession Letter at the time of full and final payment.
10. Please Note: Stamp Duty was applicable only after 10th December 1985.
11. Society Maintainance Paid Bill, MTNL Bill, Electric Bill.

aksCoder · 3 Weeks Ago

Hi All,
I am looking forward to buy a property(under construction) on resale. The owner has some outstanding dues with the builder and wants me to close them before the transfer. The builder will take few days to give NOC after me clearing the dues and then the transfer will happen.
I am worried a bit whether this is the right way(as I will end up paying a good amount of sum without any solid mortgage in return). Please suggest me the best way as soon as possible.

04-09-09	#1
aviraj Member Join Date: Jun 2009 Posts: 76 Thanks: 0 Thanked 0 Times in 0 Posts	Procedure of buying a resale flat Can anyone explain in detail the process of buying a resale flat. What is the role of the lawyer, at what stage should he be engaged, documents required from seller etc

07-09-09	#3
aviraj Member Join Date: Jun 2009 Posts: 76 Thanks: 0 Thanked 0 Times in 0 Posts	- Is NOC required from builder if the seller has already got the possession letter? (society is not formed yet) - The electricity meter would be in the sellers name. How much approx would it take to get it transferred to buyers name. What if electricity bill has not started coming yet - Again what if property tax has not been paid yet? Last edited by aviraj; 07-09-09 at 09:09 AM.

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05-09-09	#2
sysumesh New Member Join Date: Jun 2009 Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts	You need following main Document from Flat Owner : 1. Copy of Flat Purchase Agreement between owner and Builder. 2. Statement and NOC of Home loan if any. 3. NOC from Society if formed else NOC from Builder. 4. Electric Bill and Property Tax bill. 5. Serach and Title report of proerty which will done by lawyer. Aprt from that you can contact banker who provide home loan to you. they will verify all the document related to that property.

17-09-09	#4
techieguy_98 Member Join Date: Sep 2009 Posts: 101 Thanks: 0 Thanked 0 Times in 0 Posts	What if the owner of the flat has used the flat as collateral (only if the flat was purchased without a loan ) ????? Also is the process mentioned in the above post complete and thourough ?

23-09-09	#5
aviraj Member Join Date: Jun 2009 Posts: 76 Thanks: 0 Thanked 0 Times in 0 Posts	After buying a resale flat what is the procedure to transfer the electricity meter to ones own name and how much does this cost? Should this charge be borne by the buyer or the seller? What documents will be required from the seller for this change? Similar question on transfer in case of pipe gas connection too.

13-01-10	#6
avinasht New Member Join Date: Sep 2009 Posts: 17 My Mood: Thanks: 1 Thanked 0 Times in 0 Posts	FOR RESALE FLAT TO CHECK ( DOCUMENTS ) 1. Original Share Certificate. 2. Original Agreement with Stamp Duty paid as per market value. 3. Society’s N.O.C. 4. Transfer charges to be confirmed. 5. If Broker, brokerage should be confirmed. 6. If Advocate, fees should be confirmed. 7. Stamp Duty will be as per the Agreement Value or Market value whichever is higher (As per Government Market Value Reckoner). 8. Registration is necessary. 9. Possession Letter at the time of full and final payment. 10. Please Note: Stamp Duty was applicable only after 10th December 1985. 11. Society Maintainance Paid Bill, MTNL Bill, Electric Bill.

3 Weeks Ago	#7
aksCoder New Member Join Date: Apr 2012 Posts: 2 My Mood: Thanks: 2 Thanked 0 Times in 0 Posts	Hi All, I am looking forward to buy a property(under construction) on resale. The owner has some outstanding dues with the builder and wants me to close them before the transfer. The builder will take few days to give NOC after me clearing the dues and then the transfer will happen. I am worried a bit whether this is the right way(as I will end up paying a good amount of sum without any solid mortgage in return). Please suggest me the best way as soon as possible.