Buying Property Online? Take Note

Who would be foolish enough not to make the most of the opportunity that the information technology revolution has presented in front of us? Buying your household items is just a click away, and so is buying a home. In fact, data prove that prospective homebuyers are more inclined to use the online platforms to complete the process. Gone are the days when everything had to be done physically. Why should you take a day off from work just to pay site visits? There are virtual tours. Why should you sit with an advisor when you can compare properties and their prices using online tools?  To cut a long story short, more and more buyers across India's major cities are finalising their property purchases using the internet. Great as the medium is, due care must be employed while you are trying to book a property online.

Here are some areas that need your special attention:

• The asset you are trying to purchase, mind you, is one of the costliest assets you are going to purchase in your lifetime. May we suggest that only reputed platforms be trusted to carry out the business. After you zero in on a couple of properties, we also suggest that you go for a physical inspection of the property. This would leave no scope for you facing any disappointment in future. This is especially true in case of investments by non-residents.

• Do not get carried away if an online advisor or an online portal is offering grand discounts on property purchases. There are two things that have to be considered before you start clicking to bag a grand deal? Can you trust the brand that is offering this discount? And, does the deal on offer actually meet your personal requirements? Only if the answers to both your questions are affirmative, go ahead with the deal. Also, it must be considered that offering heavy discounts is a marketing strategy to sell off projects faster. Do not forget to make sure that everything is alright with the project.

• The online medium can be a great tool to complete the purchase, but you also need to have the physical possession of property-related papers. Homebuyers cannot afford any carelessness in this regard. Complete this process with utmost diligence. This rule also applies when you are trying to find out the details of the project. Do ask your developer to present the physical papers related to the property sale.

 Also Read: 10 Things You Should Know About Stamp Duty On Property Purchase