6 Questions to Ask on a Site-Visit as a Prospective Home Buyer

January 5, 2023 | Indextapadmin

Purchasing a home may be a huge undertaking, especially for beginners. Home purchasers have a ton of tasks to complete in addition to the difficult chore of selecting a house from a long list of options. These tasks range from finding a reputable developer to investigating a property's legal legitimacy and completing endless paperwork to obtaining finance approvals and more.

You can feel completely overwhelmed if you're a home buyer. So, taking modest steps forward is the wisest course of action. Before you begin your search, establish a thorough list of all the questions you want to ask the developer. Hence, you can scroll below the list of questions to ask on a site-visit to an under-construction house or a newly built property.

Important Questions to Ask as a Home Buyer on a Site Visit

• Are all necessary permits and approvals in place?

All necessary and required legal documentation must accompany the property. So, make sure to look over the property documentation, which may include environmental clearances, approved building plans, work-start certifications, and more. Know what paperwork is required to buy a house, and make sure the builder has all of it ready. Hire a lawyer, if necessary, to clarify the housing contract and check the paperwork.

• Is the real estate developer registered under RERA?

To construct any residential or commercial property, a real estate developer must be registered with the Real Estate Regulatory Authority (RERA). It provides increased openness in project development and implementation while protecting buyers against fraud. Therefore, always look for the RERA registration number when searching for real estate developers.

• What is the property's total cost?

Home builders frequently only specify the basic cost of the property and leave out costs such as favourable location fees, internal/external development fees, and annual maintenance costs, which drive up the project's overall cost. So, inquire about the property's ultimate pricing from the developer.

• How long will the building process last?

Knowing when the home will be built is one of the crucial questions to ask the seller when buying a house because it will help you save money for it and secure bank approval. The actual completion date stated by the developer in the RERA certificate can be seen on your state's RERA website.

• Is the cost of escalation included in the contract?

The process of developing a property takes a long time because it involves not only the actual building work but also numerous approvals, paperwork, and inspections. The final possession date can be delayed as a result. Developers may charge an escalation fee to cover the time needed to finish all the procedures. It is preferable to look for a developer whose contract excludes this expense.

• Are there any issues with the construction's health or safety?

Check for lead treatment or mould history before buying a used or resale home. Get documentation from the seller if this has ever been a problem and what steps have already been taken to prevent it. To request an independent inspection if you sense a risk; you might have to foot the bill for this.

In a nutshell, above we have discussed all the important questions to ask the seller when buying a house. As a result, knowing these questions to ask as a home buyer will help you make an informed investment decision no matter if you are to buy new 1 BHK flat in MMR, buy new 2 BHK home in Mumbai, or a plot of land anywhere in India.

Not only that, but you can also visit IndexTap for a more in-depth understanding of real estate analysis.