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Mistakes to Avoid While Buying an Apartment

Do you want to buy premium apartments in Calicut, but afraid of making a mistake? Buying an apartment in Calicut with world class amenities is a real investment in terms of time and money, that’s why it’s important to take every action in detail before your purchase.

The real estate market is one place where everyone fears a lot while buying any property. Fraud is frequent in real estate sector, which could be anything from low quality construction and delay in handing over the property to builders absconding after taking the money from apartment owners. So, if you have made up your mind to buy an apartment in Kozhikode, then here are some mistakes that you should avoid.

Don’t Have a Clear Idea about Financial Resources

This mistake is more common, that many people don’t know where to start. When looking for an apartment to buy in Calicut on a premium location, it is easy to get confused by all the things to think about and keep thinking “approximately”, except that when it comes to defining a budget. It is important to have a clear idea of your own means and your financing plan with your bank.

Not Researching

Most of the people have time constraints, which stop them from doing necessary research and falling into the trap of buying an apartment that they first see. Look around your choice of locality, compare a few properties, a few builders, their construction standards and then narrow down on buying one.

Overlooking K-RERA Norms

According to K-RERA norms, buildings with more than eight apartments with 500 sq metres of land or more should be registered with the authority and is not accountable for sale until obtaining registration from K-RERA. Not just in the case of projects, real estate agents or brokers also need to register themselves under RERA in order to facilitate a deal or transaction. This rule adds accountability and transparency to the method and helps you identify fraudsters.

Overlooking Paperwork and Legal Verification of Documents

Documentation is one of the main factor to consider while buying an apartment. If people ignore the documents, approvals there must be a possibility that they could end up losing both their money and property. Therefore, to look over the documents to check that if they are legalized and up to date is mandatory.

Read the Agreement Carefully

Whether you are purchasing an apartment from a builder, the sale agreement is a document that you will need to look after minutely before signing. Because once signed, you will not be able to get back from anything that is on it. Handing over the apartment should be planned well in advance. The agreements to sale have to specifically carry the date of ownership and should include a delay penalty clause just to be on the safer side. Also, make sure that the agreement to sale is registered.

Many of the people in our country are running up and down of the courts trying to get their money back, which they lost by investing in fraudulent property schemes. After all, you are ready to spend your lifetime savings on an apartment. Always make sure to consider each and every aspect mentioned above to achieve a smooth and luxurious living in your dream apartment. But with the right and best buildersin Calicut, Kerala, you can never make mistakes. Galaxy Builders is one of the most trusted and pioneer builders in Calicut who can assure that you are not going to any wrong path by choosing us. We are presenting our Magnum Opus, luxury apartment as the tallest tower in Calicut, Kerala.

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