FAQ'S

V NEST INFRA DEVELOPERS PVT LTD

FAQ's

You have to know before start everything

In terms of buying a house, you need to select the area that keeps in mind its future scope and development which will surely have a strong demand in real estate pricing. Location surely plays an important role when you choose to buy or rent an apartment. Looking for convenience in terms of a lively neighbourhood surrounded with Schools, Hospitals and basic requirement meetings stores and this will add value to your home. Good neighbourhood, Age of the home normally determine its future value.

The Registration Act, 1908, the Transfer of Property Act, 1882 and the Real Estate (Regulation and Development) Act, 2016 mandates the registration of an agreement for sale of an immovable property. By registering the agreement for sale of an immovable property, it becomes a permanent public record. Further, a person is considered as the legal owner of an immovable property only after he gets such property registered in his name.

In most cases, the mortgage interest (and property tax) may be itemized and deducted from your taxable income, lowering your overall tax bill. This can make your after-tax cost of home ownership lower than renting. However, there may be tax implications if you later sell the home at a profit. Please consult your tax adviser regarding interest deductibility.

Again, your real estate broker can help you here. But there are several things you should consider:

1) is the asking price in line with prices of similar homes in the area?

2) Is the home in good condition or will you have to spend a substantial amount of money making it the way you want it? You will want to get a professional home inspection before you make your offer. Your real estate broker can help you arrange one.

3) How long has the home been on the market? If it’s been for sale for a while, the seller may be more eager to accept a lower offer.

4) How much mortgage will be required? Make sure you really can afford whatever offer you make.

5) How much do you really want the home? The closer you are to the asking price, the more likely your offer will be accepted. In some cases, you may even want to offer more than the asking price, if you know you are competing with others for the house.

A title search is typically conducted by an advocate, via the buyer and their agent. The main goal of doing a title search is to let the buyer (and their lender) know that the seller is indeed the rightful property owner and has the right to sell the property.

Title searches involve looking at the history of the home and the owner and determining if any liens or encumbrances have been placed on the property. A lien is a type of hold, placed on the property to ensure payment for one of several things, refinanced mortgages, etc. Most of these types of issues are cleared up when the home sells and the liens are paid off or they’re removed entirely