Undervalued properties can be found from time to time, in the large majority of cases if the price of a property seems too good to be true, there is generally a reason.
6 Reasons to undervalue property:
- Structural issues
- Pollution
- Family conflict
- Financial distress
- Relocation
- Neighbours
- Structural issue:
Structure issues are worst nightmare for occupants. Issues like
- Recurring seepages in rainy and winter seasons,
- Cracks on walls, Wall bulging, uneven floor
- No sunlight in the flat (rooms are dark even at day time)
- Poor foundation, etc…
Such issues cause severe health & safety concerns to occupants.
2. Pollution:
Quality of air, sound, and water has a significant impact on the value of property
An apartment consist of following spots, make sure that flat is not close to any of below spots
- Sewage line
- Garbage dumping spot
- Water recycling plant
- Waste disposal plant
- Close to road
- Close to play area
Such spots cause profound impact on air and sound pollution.
3. Family conflict:
- Divorce – When a couple is separating, the price of the property may not be the priority, Rather couple requires quick sale.
- Separation: When the siblings are separating, they may sell immovable property for quick settlement among sibling
4. Financial Distress:
Owner of the property may be under financial pressure for following reason
- Need of fund for medical emergency
- Investing money in business or new property
- Marriage expense
- Not able to repay mortgage
- No income (jobless). Need money for day-to-day expenses
5. Relocation:
Owner of the property moved and settled permanently in abroad.
They sell property in India to buy property in abroad.
6. Neighbours:
The neighbours could be noisy, noisy pets, bullying in nature or chain smokers which caused second-hand smoking in your flat etc…
Owner of the property wants to move quickly from annoying neighbours
To safeguard the sale, do the ground and document verification
Ground Verification:
Ground verification helps us to understand the real condition of the property. The ground verification should include the following
- Visit the flat and assess the condition of flat. If possible, inspect the property by profession and get the inspection report
- Inspect the surrounding
- Talk to neighbours or known people in the apartment
- Talk to apartment association member or maintenance head about the sale of property
Document Verification:
Document verification assures that the property involved in the transaction is legal and legitimate. Verify the following documents
- Registered Deed (Sale deed, Partition Deed, Gift Deed, Release Deed etc..)
- Encumbrance Certificate (EC)
- Tax receipt
- Khata
- Seller’s PAN
- No Objection Certificate from Bank (NOC)
- No Objection Certificate from Apartment association (NOC)
We provide assistance for document verification, our verification includes reports + Sale Agreement including franking + Sale Deed Registration.
To opt for our service, please write to us pgnproperties@gmail.com or Whatsapp to + 9 1 – 9 7 4 2 4 7 9 0 2 0.
Thank you for reading…