Purchasing Keego Harbor Apartments is one of the most important decisions anyone must make in their whole life. Sometimes buying an apartment can be messy as it can confuse the legalese. Here are some essential documents you should have when purchasing any apartment. Let’s read the article to know more about it.
1. Sale Deed
The sale deed is one of the most critical documents containing information about sharing property from builder to individual. After purchasing the apartment, if the buyer also wants to sell the apartment, then the sale deed is an important document that should be present. Generally, the sale deed contains everything about the sake agreement and terms and compliance of the individuals.
2. The Sale And Purchase Agreement
The sale and purchase agreement is another important document containing a list of terms and conditions agreed upon by individual sellers and buyers. The example would be the price negotiable if flat. It also includes the final price that the buyer has agreed to pay.
3. Encumbrance Certificate
The encumbrance certificate contains all the details of a property purchase transaction. This document is also essential for applying for the loan as it states no pending loan dues. This document is to state the Keego Harbor Apartments as free from the loan.
4. Non-Objection Certificate
The property developer may also ask for various non-objection certificates. These non-objection certificates include certificates from the environmental department, pollution board, sewage board, etc.
5. Power Of Attorney (If Any)
A power of attorney refers to a person who acts as the Authorization of the owner of the property. In case the property has any authority of attorney, then it will be clearly shown in the required document before asking for the property.
6. Building Approval Certificate
One illegal construction can bring several problems. So, you must verify whether the building is approved by the local municipality or not. The building Approval Certificate will include the blueprint of the flat following the building plan of the local authority, along with the following building layouts, utilities and other equipment. In case of unapproved construction, the government can demolish the flat and declare it unfit for occupancy.
The above are some of the essential documents to purchase the apartment. Hopefully, now you have some information about buying a new flat. If any of those documents are missing, you should not buy the apartment as it can bring future problems when applying for electricity and water or asking about the apartment further.