A resale flat is sometimes a lifesaver for families when they want to own a home in a convenient location but unable to pay a huge amount similar to that of a new property. In some cases, resale flats can be a great deal that an investor can use to save a lot of hard-earned money. There are a few things that the flat owners need to keep in mind before thinking of selling the property.
Things to know while selling a resale flat
Owning a real estate asset has many advantages and according to Address of Choice, these are the things you should know while selling a resale property and make it a hassle-free venture.
Keep all original documents ready
The prime concern of the resale flats market is the original documents the owner has. The documentation will be the prime proof of ownership. In fact, the owner must be well aware of the latest changes and amendments in the rules and regulations. Depending on these, the documents should be properly arranged. This will help you to avoid any financial burden or legal issues in the future.
Approval
The resale property must have all the approvals in order to make the process fluent. You will need your resale flat to be approved from all aspects. For instance, you will need clearance for land status, environmental clearance, approved plans, release certificate, development approval, etc.
Security
Make sure that the environment of the gated community is better and more comfortable for real estate investors. Everything inside the boundary will be in your hands. It means that the infrastructure of the apartment should be up to date for investors. CCTV, security guards, water supply, rainwater harvesting, etc are the modern features a family looks for these days in a residential property.
Current owner(s)
Investors and families will also ask about the owners of the property. Whether the property is owned jointly or individually, it should be clearly mentioned in the documents. In fact, homebuyers will also check whether the seller is the owner or not. In this case, the original sales deed and other concerned documents will be necessary to complete the process.
Encumbrance free
In many cases, the resale flat is used as a mortgage for getting a loan. Make sure that all the loans or any encumbrance is paid and the property is free when you want to sell it on the market. The perfect age of a resale flat ranges up to ten years. After this age, you will not get the proper price of the property. Make sure that the age of the property is appropriately within the limit and encumbrance-free.
Physical condition
The physical condition of a resale flat will also determine the price of the property in the market. Before entering the Sale Ready to Move Property phase, you will have to renovate the condition of the flat a little so that you can make a good deal out of it.
Fixing the price based on the amenities
Do not forget to consider the current market rate of new and old properties before fixing a rate. Consider the amenities in the community and check the location facilities to stick to a rate.
Verdict
The best way to ensure a good deal out of your resale flat is to hire a professional from a reputed agency. Consider all these tips and get a good price for your resale flat.
