Verify. Validate. Vigilant. With Property Documents.

Overview Of Property Verification

What Is Property Documents Verification?

Property documents verification is the process of checking whether a property is legally sound and free from any financial threats. It is also referred to as title verification or property due diligence. It makes you aware of past and current ownership of a property. It is a crucial step that should be taken before investing in or purchasing a real estate, since you can be protected from monetary loss or legal issues. Property verification provides you with valuable information which will help you to make informed decisions.

Advantages Of Property Verification

• Ensuring due diligence: The process of gathering information before buying a property is known as due diligence. You can be vigilant and prevent any fraudulent activities during property transfer with the verification process.
• Avoiding financial loss: If the property records weren't properly verified, you could be accountable for paying the previous owner's remaining debts or taxes. Property verification will prevent such financial losses.
• Securing a loan: Before approving a loan, lenders demand property verification. This serves to safeguard their financial commitment and guarantee that the home will serve as a reliable loan security.
• Protecting your investment: Property verification finds the potential problem with a property and helps to estimate the value of it. This will prevent you from making poor investment decisions.
• Complying with regulations: The legal system recommends a buyer to verify a property before the trade by appointing a lawyer. It suggests verification as it is in the best interests of both parties.

Process Of Property Verification

• Step

  01

  

  Title Documents Check

  A title document certifies a property's ownership. Checking the title document reveals the current owner of the property and any legal claims or debts that were opted using it.

• Step

  02

  

  Property’s Tax Records Check

  The property tax records show how much property tax the previous owner of a property has paid for it. They also show if there are any outstanding property tax dues.

• Step

  03

  

  Check For The Actual Site

  Visiting the site and drafting a site plan will reveal the geographical features of the land that weren't noticed before. It is advisable to get your site plan approved by an authority.

• Step

  04

  

  Zone Regulations Check

  The zoning regulations outline the kinds of activities that are allowed on the land. You'll also know whether the building is situated in a place that is prone to flood or other natural calamities.

• Step

  05

  

  Other Documents

  The relinquishment deed (for ownership verification), Will (if applicable), freehold, No-objection certificate and mutation details are some other documents that may be needed for property verification.

• Step

  06

  

  Power Of Attorney

  A POA is a legal document that allows a lawyer to manage a principal's property when they are unable to do it on their own. For example, Non-Resident Indians use POA while selling their house in India.

• Step

  07

  Ask For Bank Approvals

  You have already done half of the work if you intend to apply for a mortgage loan from a bank because they look over the property's records before processing loan applications.

Documents Required

• Conveyance deed
• Sale deed
• Power of attorney
• Registered bill
• Relinquishment deed
• Partition deed
• Free hold/ Mutation details

* Government Fee