Get your papers in order if you’re planning on selling a house. It’s very important for the buyer to establish the authenticity of the property, and to know what, or where, he’s getting into. So reach out for the documents listed below, and keep them ready.
Important Documents For Selling A House
- Sale Deed: A sale deed is required for the purpose of tracing the ownership of the property. You’ll need the original sale deed from the previous owners of the property as well, to confirm its authenticity. Possessing a sale deed also means that the property is in your name, and that you’re authorized to sell it.
- Letter of Allotment: The Letter of Allotment contains all the details regarding your property. It was given to you by the relevant authority when you purchased this property. It is of great significance to the buyer since he can show it to the bank in order to avail a loan. The letter will indicate to the bank the sum that they can lend if the loan is approved.
- Documents From The Society: You will need the permission of the housing society or any relevant authority to sell your property. Here’s what you need to do. The previous and current sellers would have made payment to the housing society or development authority. For that, they would have received original stamped payment receipts. Collect these receipts. As being part of the housing society, you would have received a share certificate. A copy of that certificate should be kept ready, along with a No Objection Certificate (NOC) that says it’s okay to transfer the share certificate to the prospective buyer, if applicable. You will also need to obtain a certificate from the society which certifies you as having made all the required payments to the society. Collect, fill up, and sign the membership transfer form from the society.
- Encumbrance Certificate: To ensure that the land you’re selling does not have any legal dues, an encumbrance certificate needs to be produced. It shows the prospective buyer that the house he or she is buying has a clear and marketable title.
- Sanctioned Plan: The Sanctioned Plan sets down the plan of the apartment building, including such factors as the height of the building and floor area ratio. The buyer will feel secure after receiving the sanctioned plan, as he or she will know how the property that he is purchasing is going to look like.
- Sales Agreement: The sales agreement serves as a contract under which the ownership of the house is transferred from the seller to the buyer in exchange for a specified sum of money. It basically obligates the seller to sell according to the agreed terms.
What If Any Paperwork Is Missing?
Selling a house is impossible if you have misplaced any of the prerequisite paperwork. Your only option is to file for registration and pay any outstanding amount. The housing society will have a duplicate copy of the share certificate if the original copies are misplaced. In addition to a confirmation by the housing society, an indemnity bond should be furnished if the sale deed has been misplaced.
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