You’ll need several essential documents required for selling property. Having these ready ensures legal compliance and facilitates a quicker sale, helping both sellers and buyers avoid unnecessary delays. Here’s a checklist to help you get organised.
What are the Documents Required to Sell Property?
Sales Contract: This includes the purchase price and details of your home sale.
Title and Ownership Documents: Any paperwork related to the property’s title and ownership.
Property Surveys: These provide information about the property boundaries and any encroachments.
Permits and Certificates: Documents issued for renovations or improvements made to the property.
Receipts for Improvements or Repairs: Keep records of repairs or upgrades you’ve done.
Pre-Sale Inspection Reports: If available, share these with potential buyers.
Correspondence Impacting Home Value: Any relevant communication affecting the property’s value.
Mortgage Documents: Including a payoff estimate from your lender.
Tax Records: Provide information on property taxes.
Homeowners Association (HOA) Details: Monthly dues, covenants, and restrictions.
Home Repair and Maintenance Records: Keep track of repairs and maintenance.
Remember that disclosure laws vary by state, so complete a thorough Seller’s Disclosure Statement to inform buyers about material facts regarding your home’s condition. I hope this helps you understand what documents are required to sell a property.
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Are you planning to sell your property? To sell your property you will need these below-given
documents needed for sale of property.
What Documents Required for Sale of Property?
- Title Deed
:
This document establishes the seller's ownership of the property. It could be in the form of a sale deed, conveyance deed, gift deed, or partition deed.
- Property Tax Receipts
:
Proof of payment of property tax up to the date of sale.
- Encumbrance Certificate
:
This certificate indicates that the property is free from any legal dues or pending mortgages. It verifies the ownership status of the property for a certain period.
- Khata Certificate and Khata Extract
:
These documents are issued by the local municipal authority and verify the details of the property for assessment of property tax.
- Approved Building Plan
:
If the property is part of a building, the approved building plan by the local development authority is required.
- Occupancy Certificate
:
If the property is in a constructed building, an occupancy certificate from the local municipal authority certifying that the building complies with the approved plan and is fit for occupation is necessary.
- Sale Agreement
:
A legally binding agreement between the buyer and seller outlining the terms and conditions of the sale.
- Receipts of Up-to-date Utility Bills
:
Receipts of electricity, water, and maintenance bills to ensure all dues are cleared up to the date of sale.
- Completion Certificate
:
If the property is part of a housing society or apartment complex, a completion certificate from the respective authority is required.
- Power of Attorney
:
If the property is being sold by someone other than the owner, a power of attorney authorising the sale must be provided.
- NOC from Society/Builder
:
If applicable, a No Objection Certificate (NOC) from the housing society or builder confirming that there are no objections to the sale.
- Identity and Address Proof
:
Copies of the seller's identity and address proof, such as Aadhar card, PAN card, passport, etc.
- Bank NOC
:
If the property is mortgaged, a No Objection Certificate (NOC) from the bank or financial institution releasing the mortgage is required.
These are the documents required to sell property
.
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When you are selling a property, the property documents are extremely crucial. This helps the buyer to scrutinize the property accurately. Most buyers would want to purchase a property without legal disputes. To clear things out the seller should always present the property papers to the buyers to ensure that the property is free of legal liabilities. Some of the documents required for selling property are:
Letter of allotment
Sale Deed
Sanctioned plan
Society documents
Encumbrance certificate
Sale Agreement
These are the 6 six important documents you must have if you are wondering what are documents required to sell a property. I will provide you with some briefs about the documents I have mentioned above so that you can understand what to know when selling a house by owner.
- Letter of allotment
It is the most important document required for selling a house in India. This letter confers the allotment of the property to you. It shows that you have obtained the allotment letter from the society or authority.
2. Sale Deed
You need the original conveyance or sale deed from the previous owner. You will need to provide the sale deed with a copy of the receipt and visit the sub-registrar office for registration. You should have the sale deed with you. If lost it will be extremely difficult for you to sell the property.
3. Sanctioned Plans
As an owner, you should have the sanctioned plans with you while selling the property. A property without a sanctioned plan is considered a legally disputed property.
4. Society documents
Permission to sell property can only be contained if you have society documents. You should have the original stamp paper and previous payment receipts with you because you will need to present them while selling your property. Before selling the property you must obtain a NOC from society to sell the property.
5. Encumbrance Certificate
For property transactions as proof of free title, an encumbrance certificate is required. The encumbrance certificate has all the records of property transactions. This document is extremely important to secure home loans from lenders. This certificate is important as it also proves that the property is free of legal liabilities, so you will need the encumbrance certificate while selling the property.
6. Sale Agreement
Last but not least a sale agreement is required to sell a property. To execute a sell deed a sale agreement is required. This has all the information about the property and the price of the property. This agreement is signed between a buyer and the seller on a non-judicial stamp paper. It is valid evidence for selling property.
I hope you know what are the documents required for selling property.
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When you plan to sell your property make sure that your property documents file is ready. The buyer will check the original documents before finalizing the deal. List of
documents required for selling property.
Letter of allotmentThe allotment letter is issued by the housing authority. This document states the description of the property and other details such as the property is purchased and how much money is paid by the buyer to the developer. And thus the buyer can legally shift to his/her new house.
Sale deedSale deed is a document which holds the information of the sale between the buyer and the
seller . This document states that the property is purchased through legal norms.
Sanctioned planThis document was introduced by RERA Act 2016 which states that the building is constructed as per the approved plan. This certificate ensures that the developer has taken permissions from water board, environment permission and other required permissions, which are approved by the concerned authority before starting the construction of the project.
Society DocumentBefore selling the property you need to get the permission from the house society to transfer the property. Once your application is approved then the housing authority will provide you with a society document.
Encumbrance certificateThis document is used during the transfer of property to verify that the property does not hold any legal due or any other kind of monetary dues. A smart buyer always checks the encumbrance certificate to clarify that the property does not have any debts or pending dues.
These are the list of mandatory
documents required for selling property.
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What are the Documents Required to Sell a Property?
Vikas Jain
1533Views
3 Year
2021-04-29T19:43:07+00:00 2024-03-02T23:32:31+00:00Comment
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