Essential Task Checklist for a New House Owner
Jun 02, 2017 Home Trading Steps
Buying a new house can be a tedious process involving a lot of paper work as well as physical labour. The buyer has to run around to make sure all the legalities are formalised and also any repair and maintenance needed is completed in time.
Here is a checklist of things that must be taken care of by the new house owner. One must complete these absolutely essential tasks before settling in into the new house:
Here is a checklist of things that must be taken care of by the new house owner. One must complete these absolutely essential tasks before settling in into the new house:
- It should be made sure by the buyer that all the documents related to the property are verified carefully. For this, a layman can hire a lawyer and check the details of the sale deed, agreement to sell and other documents to be authentic and reliable.
- One must make multiple copies of the property documents after they are verified. These copies should be stored at separate safe locations like lockers. Soft copies of these documents can also be saved secured with passwords. These copies should be kept safely and only be accessible to the family members of the buyer.
- It is mandatory to transfer the property tax records, EC and Khata in the name of the owner. This is the responsibility of the new house owner. The registration of the property does not ensure that this transfer has been made automatically.
- Utility connections like electricity, water supply should be transferred to the name of the new owner. Any pending bills must be cleared. Having these services in the name of the owner is considered to be authentic address proofs. It often becomes difficult to complete these tasks after the payment has been made as the seller might not be available. The NOC forms and transfer papers should be prepared along the property registration documents so that they are signed be the seller at the earliest.
- After the deal has been made, the new house owner must update the new address in all records such as the Aadhaar, PAN card, voter ID, bank accounts, driving license, etc. Any insurance policy agents, stock brokers should also be informed about the change in address. This will make it easier to manage address proof requirements.
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