I need to know all the documentation that I should check from the seller before I make payment for a residential plot in phase 7 Bahria Town Rawalpindi. Can someone please let me know the checklist of all such items that are needed in order to ensure that the plot I am buying is legit or not?
There are a few basic things which should be confirmed first in order to make decision whether the property should by taken or not. (According to my information)
(i) Ask the seller to show you the allotment letter issued by the society.
(ii) If the ownership of property has been transferred to owner's name then a transfer fee will involve in whole of the process to shift the ownership from first buyer to second whereas you pay nothing to transfer an "open" property to your name.
(iii) A further verification will be required if the owner has registered the property in Patwar Khana.
A warm welcome is waiting for other members of this forum to share their knowledge on this topic.
Thanks Tanveer. But in case of Bahria town the verification from patwar khana is not required, right?
Now a dealer in Bahria Town is trying to sell me a plot that he said he bought on just token money (Beaanna) and he says it is still in the original owners name from which this dealer bought. Now is it okay for me to buy such a plot or no? In this case I will be paying the entire amount to this dealer, not the original owner. It seems little risky?
I don't know about other societies but in BT you can register your property in Patwar Khana. Verification is required from Patwar khana in the case if the owner has registered the property there too (both verification and transfer).
As none of us is unaware of today's real estate market where majority is trying to double the profit. This is the reason sometimes dealer or selling person keeps the owner behind or away from table talk.
If you think you are able to cope with the situation then you can deal with him and if you find it complicated then you should convince the dealer to settle the terms between himself and you but take you to the original owner before payment. In short, it is always a wise deal when you talk directly to person who bears power of attorney rights.
I need to find a reliable, reasonable and honest dealer to buy a residential plot in BT phase 7. Any help will be appreciated.