- 4 Important Things To Check Before Booking A FlatAugust 7, 2018
Purchasing a flat can be an overwhelming thought with all the complicated evaluation process involved. Buyers are advised not to get carried away by their interest in a particular property and should pay heed to many significant details at the time of the booking.
Below listed are the important things to check before booking a flat.
1. Verifying the price
Decide on a budget and search for a property in that price bracket. As a property may demand a higher price due to its locality and amenities, look for the ones most ideal for the purpose. Also, compare the price of the apartments in the neighbourhood with information from realtors and property portals.
2. Builder-buyer Agreement
A buyer has to enter a tripartite agreement with the builder and lending bank after receiving the allotment letter. The builder-buyer agreement is signed at this stage and it includes important clauses regarding the deals. It is in the best interest of the buyer to read and understand the agreement to avoid any discrepancies.
3. Location and infrastructure
The presence of social and physical infrastructure in the location should be analysed to ensure connectivity and ease of convenience. The amenities offered in the project and the proximity to other necessities should also be subjected to scrutiny to help settle down easily in the new house.
The prospective buyer should make a realistic assessment of the project’s timelines to predict possible delays. Most developers ask a six-month grace period for the final delivery as the project completion depends on factors like availability of funds, sales, raw material supply, etc. This grace period should be specifically mentioned in the contract with the builder.
Ladder Kerala is one among the top choices in trusted developers for flats and apartments in Calicut. Their flagship project Ladder Mankav Greens ensures a transparent process and steps to offer the prospective buyer their dream home.