Few Points to Consider while Buying a Flat in Mumbai

There never has been a right time to buy a flat in Mumbai. Anytime is good. With the rapid growth of urbanization a house is worth thousand times its weight in gold. As the real estate market steadily accents it is better to start realizing your dream of getting your own flats in Vile Parle and make the best of what the market can offer you within the constraints of your budget.  Contacting a suitable broker also helps you to find your happy home and given the fact that buying properties has its own pitfall seeking a real estate while closing the sale deed is also a nice way to go about.

Step 1:  Get your own research done for buying a home

Whether you are buying  flats in Vile Parle for the first time or even a second home in a metropolis like Mumbai is easier said than done. Going through the whole gamut of property buying with volatility in the price range that seems so difficult to suit your budget. There are also bogus sellers where one has to tread carefully. Such incidents are published regularly in the newspapers. For many young people who have made it rich in a short span thanks to attractive job offers and quick promotions owning a flat is a status symbol more than owning a car. Buying a flat is indeed a saving for the future.

Some nitty-gritty on buying a flat in Mumbai:

a.    Have you finally decided to purchase a flat?

b.    The best way to search for a price-effective flat

c.   How to secure loans, and

d.    Many ways to secure loans from reputed insurance companies or nationalized banks

Step 2:      Contacting a Real Estate Agent

The first step after having made up your mind to possess a flat in Mumbai it is best to contact a real estate agent who can minimize you leg work as his profession will make finding your home more satisfactory.  In many cases he also acts as a real estate lawyer taking care of seeing the sale deed through. As he does your leg work, shows you flats that suits your budget there is less headache in locating the owners so that you can  see the property with agent’s guidance.  Once you decide flat of your choice you can start the negotiation process to get the right price. Make it clear whether the broker fee has to be paid equally by the buyer as in some cities sellers who pay the brokerage commission.

Step 3: A Lawyer for Signing the Deed:

In case the broker does not help to settle the sale agreement then you need a practicing real estate lawyer. The purchase price having been agreed upon, it is just one step before you come to closing the deal. Moreover, a lawyer can also help you find out whether the title deed and other documents presented by the selling party or the builder of the flats in Vile Parle that you wish to buy are authentic or fake. This is crucial for any real estate deal as fake papers can land you in legal problems.