Purchasing a home is an exciting time, but it’s also an important and somewhat complicated step toward owning your own property. Before you make a move on to buy a Property in Chandigarh, it is important to be aware of all the legal documents that are involved in the process. You may not have to use them, but they’re still important so you know what’s going on at all times. 

If you are going to buy a house in Chandigarh, there are going to be many legal documents that will come into play. You need to know what they are and how to make sure that you understand their meaning. By doing this, you will be able to keep yourself out of trouble when it comes time for closing on your new home.

The first thing you need to do is prepare yourself with the most important documents. This includes the following:

• A copy of your income tax return (last 3 years) and any other professional record that proves your annual income;
• A copy of your social security card; and
• Any other proof of identification you may have, such as a driver’s license or passport.

Other Necessary Documents Are:

Purchase Agreement 

This is a legal document that outlines the terms and conditions of the sale of your property. It also states that all parties involved have agreed in writing on what they want out of the transaction. The buyer will usually sign this document before he or she moves into their new home.

Seller’s Disclosure Statement

This document provides facts about the property including location, condition, and asking price (if applicable). It also highlights any defects or problems with the property that need repair before you can move. 

Title Insurance

This document covers issues like liens and easements that might affect your ability to sell your home or use it as collateral for a loan. It also covers any improvements made to the property so that if there were any disputes later on, they would be covered by title insurance.

Contract of Sale

A contract of sale is an agreement between the buyer and seller that outlines the terms of sale and indicates the price to be paid for the property. It is signed by both parties.

Certificate of Title

The certificate of title is proof that your home was legally purchased in accordance with state and local laws. It contains information about who owns your property, how it was acquired, and when it was purchased. It also shows any liens placed on the property.

Inspections Report

An inspection report is a document prepared by an inspector who has inspected your new home for defects such as mold, termites, or radon gas. The report should be provided to you upon request so that you can make any necessary repairs before moving into your new home.

The Bottom Line, 

Know what you’re getting into. If you don’t know the exact terms of the apartment for sale in Chandigarh, do your research before agreeing to anything.

Hope you like this article!