luxury property in pune

What Kind of Unique Issues You Might Face while Buying a Property?

Buying and owning a property is everybody’s dream especially in Pune. There are lots of property for sale and under construction project in Pune.

If you want to buy a property in Hinjewadi but you are facing some issues while buying a property then this blog is the right choice for you. Here we provide you a few points which you would come across as a buyer

buy 2bhk flats in hinjewadi
Highmont – Hinjewadi

Frequently faced issues reported by home buyers

  • Problems in seeking a mortgage
  • Issues related to the surveyor
  • Problems encountered on the final day
  • The property was not in good condition
  • Conveyancer related issues
  • Issues in finding a suitable property
  • Third party delays
  • Problems related to company removal

Let us see in detail about the problems you will face in buying a property:

  • Bank Approval of the property

Not all have enough money to buy a home, therefore, such people avail for a personal loan from any bank and this financial institute will look for eligibility criteria of the property like the age of the building, property title or its condition. This is actually a black mark because of diligence was done by the bank with regards to the legal soundness of the property. There are lots of upcoming properties for sale in Pune constructed by Mittal Brothers which actually satisfies all the Bank policy norms for home loan approval.

  • Clear Property titles

With respect to bank loans, clear property titles are not just significant but also the best for future selling. You may be wanting to sell the property in a few years of its purchase. It would be very difficult to sell the property with illegal property titles even when there are no legal backlogs. Moreover, if you are a buyer, unclear titles will always make you doubtful till you stay.

  • Termite inspection

This is a very common issue but there are a few times that can lead to a serious threat to your costly furniture. It is significant to test the current seller to avoid this issue related to buying a property. You need to check how often there is a need for pest control and you need to check the corners, doors, garden area for the termite intrusions.

  • Risk of Location

There are few natural disasters which happen around unexpectedly but it is important to check whether the area is at a high geographical risk. There are other issues like polluting industries, chemical plant, dumping ground in proximity. Sewerage and water logging is also another issue which needs to be checked because it might lead to diseases because of the unhygienic environment. All these things must be introspected and communicated with the broker or seller.

  • Not much appreciation

This can be an important task to do and it is significant to check the previous selling price of the property and the rate of property appreciation. This will assist you in checking the returns you demand if you plan to sell the property after some time. There are few factors which might enhance the property sale value like infrastructural development or renovation.

Consider the above points properly before buying a property in Pune.