Sale Deed Agreement:

One of the most important documents when purchasing and selling. It gives proof of the sale of the land and no sale or purchase is complete without it. It contains details about the property, name of the seller and buyer, their addresses, identification of the property, the price, payment details etc. These documents are of immense importance and must be made by a professional legal authority. This document confirms that the property is free of trouble.

Authenticity of the Property:

The first major step is check if the property you are buying is approved by the government or not. It is also necessary to check with the registry or revenue department. It is important to know about the legality of the project as people sometimes set up fake schemes for money.

Check if the plot is transferable or not:

The transferability of the property also plays a important role in determining whether the property is fraudulent or not. To determine this check:

·      If the property can be transferred or not

·      If the transfer is qualified to transfer the property

·      If the transfer is done according to the law

·      If the property that is sold is free from restriction for sale under the Pakistan Land Act. 

Involvement of the Third Party:

In the case of the third party involvement i.e. the real estate agent you should verify that is he has the legal authority or the power of attorney to sell the land. Property crimes are very common in these days. Therefore it is very important that you become aware of  these frauds and be very careful in buying a plot in any housing scheme. Take your time in considering each and every step and there should be no need to make immediate decisions. You should only buy the plot when you are aware of all the information regarding it and are sure there is no fraud involved.

Check the Historical Ownership Record:

Even if you are buying the plot in a new housing scheme, you should check the record of the property and its previous owners and check that the plot is not disputed. You should investigate the property by either visiting the property or obtaining the correct documents from the responsible offices. This is the most important step and must not be over looked. The property you wish to buy could have a dispute over it over it or belong to any other owner. Therefore it is important to do investigate and have all the information. The ownership of the property should be checked properly. This is one of the best ways to avoid any fraudulent deals while buying a plot or any kind of property.

 

Physical existence of the plots:

Always ensure that the plot you are going to buy has physical existence. You should never invest in future plans or where the land has not been acquired yet. Sometimes it happens that the developers might sell files to a large number of people for but might not be able to acquire the land to meet the demand.

 

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