Property Online

Things to Keep in Mind Before Buying a Property Online

We live in a digital era. Everything right from offerings to your favourite deity to ordering gourmet food to tuitions is available online. Our marketplace is online too. While we buy everything from daily groceries to high-end electronics online, a property could also be bought online.

The Indian real estate market is typically known for deals done with the help of unorganised brokers and middlemen. However, things are changing, and the empowered Indian homebuyer is making his presence felt.

Although a lot of information is available on various portals, it is important to do your due diligence before buying a property online. One should always bear in mind the following points before you sign up on the property documents for buying a property.

Use the Internet to shortlist properties

Almost all properties for sale are available on the Internet. Features like 360-degree views, pictures and videos provide you everything that you need to know about the property and the amenities that come with it.

Online portals can provide you information on the expected development of the area in a radius of 5 kilometres. While all this makes your life much easier, it can only act as a filter to shortlist properties.

After all, how difficult is it to Photoshop and use other enhancement software to make pictures and videos look better? So go to the sites and shortlist some properties that fit your bill.

Do not skimp on physical inspection

Once you have a list of probable properties, take the time to do a physical inspection of the property.
Factors like quality of construction, level of completion of the project, surrounding areas, accessibility are some things one should consider before finalising a property.

As you realise, only physical inspection can give you these inputs. So never skip the physical inspection part.

Resist the lure of online discounts

Offering discounts online could be a way of selling off non-moving properties.

Do not be lured by the discount amount and book the property before you physically inspect the properties and have clear discussions with the developers/existing owners. Do check for prices of comparable properties too.

Documents are important

It is imperative that you physically check all the documents of the land and approvals with the developer. Also when it comes to your part, there may be an option for you to complete your paperwork online, but remember physical copies of property documents are equally essential.

The bottom line is that property investment is one of the important decisions of your life and involves a huge amount. When you make an online purchase of property, remember there are no exchanges or returns.

3 Comments

  1. To buy an online property is really a difficult and risky job, but then thanks to such blogs who comes as a Savior to us. Will surely refer this blog to all my friends and family.

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