What are the things that one should look for from legal perspective while buying a second hand apartment?
Question asked by Karthik from Bangalore, India:
I’m Karthik from Bangalore. I would like to buy a second hand 7 years old apartment. Please kindly tell me
1) What are the things I should look for from legal perspective
2) What are the other charges I will pay like, if the apartment is of 1000 Sq. ft. If he is charging 2500/per Sq. ft. it will be 25 Lakhs on top of it should I need to pay Car Parking, Electricity, water, VAT & registration. I still believe that buying a 2nd hand will be cheaper. Please advise me.
Thanks
Karthik
Vatsala Speak:
None of these charges apply for a resale of apartment. You can negotiate the entire sale price, which can include car park also, from the current owner. Be prepared for broker’s fees, lawyer’s fees and registration and stamp duty expenses. Vatsala
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