If you are looking to buy a property in the near future, beware of some common property frauds. Here are a few checks that you should have in place before taking that step. These will not only ward you from the entire gamut of real estate scams but also guard you from false promises of the builders.
Here’s a lowdown:
1)Title deeds and clearance:
There have been property frauds where scammers have duplicated title deeds of vacant or disputed projects and sold them to innocent buyers . The scammer will use false documents to pose as the property owner, registers forged documents transferring a property to his or her name, and then gets a new mortgage against the property.
Thus, it is important to check that the title deeds and paper work are free from any encumbrances. You can check these link documents at the office of the sub-registrar. Ensure that there is no encumbrance, pending legal case, property dispute or lien on the property. Once you make the initial payment for your house, ensure to get the allotment letter if it is a builder and an “Agreement of Sale