Posted on June 20, 2015 at 10:00 PM

Reading this might not make you feel any good, considering the fact that buying a house is quite an ordeal involving days of hunting, enquiring, chasing, negotiations, etc. But read and follow the next few steps that will ensure you haven’t missed anything in the transaction. Some of the errors made during the purchase can create issues even years later.

1. Verify your documents
Consult a good local lawyer to see if you’ve missed any important administrative points or procedures as per the local rules. Have him verify your documents to ensure everything is as it should be. If you realize something is wrong with your documents at a later time, it will be tougher to track the necessary person and get the changes done.

2. Back them up
Once all your documents are in place and verified, make at least 3 sets of photocopies and store them safely in different locations (just in case), such as a bank safe or at your parent’s/trusted relative’s home. Keep one set handy at home for when you need to refer to them. Since we are in the digital era, it’s also recommended that you scan the documents and maintain digitized copies of the same. You can burn them onto DVDs or just upload them to your cloud storage for added safety.

3. Keep a track of what you’re giving to the bank
Many have learnt it from experience so you don’t need to. Maintain a list of all the documents you’ve submitted to the bank. Since they take originals, it is essential that you keep a track and ask them for a letter mentioning all the documents they have received and compare the same to your list. If a problem comes up years later and your bank guy tells you some documents are missing when you’ve in reality submitted them (which happens pretty often), you can be prepared with a list. If you don’t have a list then, you will have to dig up your documents from years ago to verify and then escalate the issue to the top level management at the bank and maybe your issue will get sorted.

4. Transfer utility connections to your name
Electricity and water connections are considered the most reliable and authentic proof of property ownership. Have them transferred to your name as soon as your purchase is done. Property sellers tend to lose interest in you once they have your money so it will be tougher to get in touch with them to complete the process later. Find out the NOC formats for such transfers and have the documents ready during property registration so you can have them signed by the previous owner at the earliest.

Additional tip: Also apply for transferring Property tax records, EC & Khata, etc. to your name. Many mistakenly think these transfers happen automatically based on the property registration but sadly, they don’t. So initiate the process right after your purchase.

5. Transfer society share certificate in your name
Every property owner in a society is entitled to an undivided piece of land and also Society Shares. Inquire about the details of what you are entitled to beforehand. As soon as your purchase is complete, hand over a copy of your sale deed and request for share transfer or an amendment in deed of declaration.

Once you’ve checked these five things off your to-do list, comes the most important task of all. Sit back and take in the feel of your brand new home. Congratulations on your genuine purchase!