What tips would you give to a first time home buyer?

Abode New Homes is the most respected residential builder in Darwin with over 40 Industry Awards. All our new homes are designed for the Northern Territory climate. We specialise in house and land packages in all areas surrounding Darwin.
Asked May 04, 2016
1. Determine your budget
2. Analyze the location
3. Study the present real estate scenario
4. Find the best builders

Varma Homes, the Kochi-based property builders are one of the leading real estate developers in Kerala offering luxury and budget-friendly flats, apartments and residential projects in Kochi, Thrissur, Trivandrum, Kerala. They are one of the best residential builders in Cochin.

Silver Castle, the premium residential builders in Trivandrum is one of the leading real estate developers in Kerala offering residential apartments, flats, villas for sale in and around Thiruvananthapuram. They are one among the top builders in Trivandrum who have shown their proficiency in building trendy and quality assured residential projects.
Answered Jan 11, 2018
Every new home buyers should be careful because the market has both good and bad. If you do not want to end up becoming a victim of any scams. So, how can you protect your property then? Simple, for that you must know the rights of the home buyer. If you are well aware of your rights, you can tackle any issues.

Transferring of property from one person to another is bound by government laws. The law that governs the Transfer of properties in India is the Transfer of Property Act. So here are some rights of a home buyer.
Right to know details about the project

As a buyer, you have the right to know the stage-wise completion schedule of a particular project. You can know all the details of the project including rainwater harvesting, electricity, sewage, and other utilities, services, and amenities. So you can approach the builder and ask for all these details about the project.

Right to claim possession

You have made the payment for the property and ready to take possession of the property. However, the seller has not given the possession of the house as per the agreement. Wondering what can a buyer do? Even if you make full payment but still didn’t receive the possession of the house then you have the right to receive compensation. Simply put, you can receive a full refund of the amount you paid along with the interest. The seller’s registration can be revoked or suspended under the act. Always remember that once the buyer makes full payment, they have the right to take the possession of the property along with the common spaces too. They can also take possession of the house once the OC is issued and receive a copy of it.

Right to get the property with all the features mentioned in the agreement

Yup, you have seen it right. A buyer has the right to receive property with all the features that are mentioned in the sales agreement. There are many scammers out there, they promise you various amenities on the paper by fulfilling only a few of them. As the buyer does not know about their rights they usually let it go. However, it is important for a buyer to be educated about their rights to take appropriate action. So if the seller has not kept his end of promise by giving you all the amenities as promised in the agreement then you can take them to court. Yup a buyer is eligible to take the seller to the court in case he doesn’t fulfil their side of the agreement.

What are Your Rights As a Home Buyer ?

Right to receive all the documents

As a buyer, you have to know about your rights. Because it will help you in fighting for yourself in case of injustice. Another important thing that most buyers do not know about is that they have the right to receive all the necessary documents, encumbrance certificates, property layout from the builder along with the common areas, and tax receipts. So remember that you have the right to receive all these documents from the seller. So excise your right and receive all these documents.

Benefits of improvement

Similar to the other benefits in this article, this is also one of the rights that are given to the buyer. Once the ownership is passed on to the buyer i.e., full payment is made and the property now belongs to the home buyer. The buyer is only entitled to any of the benefits of improvements that contributed to the rise in the value or increase in the value of the property. Once the property is sold the increase in the value of the property really goes to the buyer but not the seller. So the buyer can enforce these rights as they are given by the law.

Loss of damages

This is more of a liability than a Right for the buyer. All the above mentioned are the rights of the buyer. It is reasonable to end this article with at least one liability. Once the ownership of the property is transferred any damages pertained to the property are the responsibility of the buyer only. Be the loss arising from damages or the decrease in the value of the property are all responsibilities of the buyer but not the seller anymore.

Bottom line

The above mentioned are some of the rights of the buyer. It is important for a buyer to be educated about their rights and liabilities to understand their stand in the sale agreement. Buying a dream house is the most important aspect of many people’s life. If you are not careful enough, it doesn’t take a long time for the dream to become a nightmare. If you want to win against the seller who does you wrong, then it is important to know your rights. Before anything else, find yourself a seller who is fair and has all the required documents from the concerned authorities. If you didn’t want to fall prey to any of the scams then, it is important to know about your rights and responsibilities before time.

To Know More
Answered Nov 25, 2020
Edited Nov 25, 2020

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