Property costs in Mumbai are already reaching sky high. Add to that the commissions you have to pay to various sources to help you find a suitable deal and close it. There is a better way of finding homes, hire a property advocate in Mumbai. We bring you this article to show why you should hire the best property advocate in Mumbai to help you close a deal.
The perks of hiring a property advocate:
Regardless of the fact that you are buying or selling, hiring an advocate over an agent will benefit you in both cases. Below, we discuss the advantage they provide in either case:
If you are interested in buying a property in Mumbai, then your advocate would:
- Help you gain a better understanding of the contract of purchase, which also involves you taking the title of the property.
- Make legal inquiries that there are no leases, lien, etc. against the property that might prevent you from putting it to use.
- She/he would deal with the preparation and registration of all legally required documents.
- Arrange for and modify the terms (if the need arises) of a loan with the bank.
- Will help you in making financial decisions, like filing of taxes and making deductions on the property that you have purchased before you close the deal.
- Review all legal documents that would need your signature.
- Will arrange for insurance protection on your property.
- See to it that you are getting a fair deal and have no other liabilities in the house other than the ones that you choose to accept.
If you are selling a property in Mumbai, your advocate would ensure that:
- The sale agreement of the property including the terms of negotiations that you have agreed upon.
- Complete the legal work using the power of attorney if the need arises.
- She/he will deal with the title issues and help set them straight.
- Will assist you until you have closed the deal and all papers have been signed.
- Transfer or arrange for the transfer of the security deposit for the property.
- Also look after the insurance on the property if the need arises.
The biggest advantage of hiring the services of a property advocate in Mumbai is that you are not employing a broker or an agent. This is a huge way to save you some money. An agent or a broker usually charges a percentage tip on the sale and purchase of a property. These numbers often run very high and can add significantly to the cost that you are paying. On the other hand, if you are employing the services of a top property advocate in Mumbai, they would charge only a fixed fee per the number of deals. Their prices do not fluctuate according to the price of the property that you are buying. This amount thus saved can be put into renovating or furnishing your new home.