Selling your old flat to buy new property? Few things to know

Q: Selling your old flat to buy new property? Few things to know
Sanjay Dhule is keen to sell the old flat he inherited from his parents and buy a new one in the same city. He has realised that not only is it difficult to get a buyer for the old flat, but the cost of the new one is also high. He will have to put in his own money as well, but is unsure about completing both the sale and purchase transactions seamlessly. He is also worrying about the costs and taxes that may be applicable to him. How should he manage this

Maya Roa, Apartment Resident, Chandigarh

24th December 2013

Real estate News in Delhi

real estate

property

Follow Discussion

Also see discussions for

Delhi Real estate News Real estate News in Delhi

Replies (6)

Yes good points and once the documentation is cleared, both parties can then enter into an agreement to sell and confirm the terms and conditions. Subsequently, they can execute the sale deed based on the agreement to sell. Sale agreement is signed and executed by the seller and buyer on a non-judicial stamp paper.

Kashif Ahmed, Delhi-NCR

30th December 2013

Comment

The encumbrance certificate is used in property transactions to indicate free title. When buying an apartment, land or house, the buyer wants to make sure that the land or property does not have any legal dues.

Amit Raj, Delhi-NCR

30th December 2013

Comment

Sale agreement is one of the most powerful document in the transaction as it has legal value and can be produced as evidence. The agreement between the buyer and seller is the document on which the sale deed is drafted.

Farhan Iqbal, Delhi-NCR

30th December 2013

The original conveyance or sale deed from the previous owners of the property is required when you are selling a property. In case you have lodged the original deed for registration with the registrar, you need to provide a copy of the conveyance deed or sale deed along with a photocopy of the receipt from the sub-registrar where the documents have been lodged for registration.

Deep Thakur, Delhi-NCR

30th December 2013

Comment

Hi what kind of property do you have and how much price are they quoting ??? Is it a old property? Do you have all the documents.. let me know I am interested to investment in this project!

Jamuna sikhri, Delhi-NCR

30th December 2013

Comment

Hmm surely of course you can sell your own home. If you make the commitment, do it right; the reward of a job well done and a few extra hard work.The letter that confers allotment of the property to you from the relevant society or authority is a primary document you need to have in order.

Praneetha, Delhi-NCR

30th December 2013

Hi Maya, you should take some help from brokers. See an established real estate brokerage will have a network that reaches far beyond the city or town where you're located. In most cases, it can source qualified buyers both regionally and internationally and may even be retained by large corporations on the hunt for executive accommodations.

Jeet Bhaskar, Delhi

30th December 2013

Comment