Completion day is basically when the seller will vacate the property and hand over the keys to the new owner. I wasn’t aware of these formalities until we bought our first property some five years ago. After the completion, you should immediately initiate the process of mutation. Let me tell you in detail what happens after completion of house sale.
What Happens on Completion Day?
After the sale deed is registered and all other financial obligations are done, the seller will send the property title deeds and transfer it in your name. Here are a few more things you need to know about the process.
A joint inspection is usually conducted to ensure the property is delivered in good condition.
After the possession, the process of mutation takes place. This is usually done at the local municipal corporation or panchayat office. To complete the mutation, you should submit some documents, such as your updated property tax receipts and identity proofs.
As a final step, the property transfer in India follows a process that includes proper due diligence, agreement to sell, execution of the sale deed, payment of stamp duty and registration, possession handover, and the records of mutation. This is an essential step to ensure a smooth and legal property transfer.
I would also suggest that you inform your move to bank, credit card providers, broadband and other utility providers, and your workplace as well.
I hope this answer will help you understand what happens during the process of completion and transfer of property.
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What Happens after Completion of House Sale?
Malan
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6 days
2024-12-05T15:37:17+00:00 2024-12-05T15:37:18+00:00Comment
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