How Buyers Can Verify Property via Classified Ads
Buyers should exercise due diligence when using classified ads by focusing on systematic verification of the property, the seller's credentials, and all legal documentation. The process shifts from simply reading an ad to proactive investigation.
- Verify the Seller/Agent Credentials:
- Confirm the seller's identity through official documents.
- If dealing with an agent, verify their Real Estate Regulatory Authority (RERA) registration number and license validity on the official state or central RERA portal.
- Scrutinize the Classified Ad Details:
- Look for ads that provide a RERA ID for the property itself, which indicates it’s a registered project subject to regulatory oversight.
- Compare the address provided in the ad with the actual physical location and check if the details match government land records or the developer's official site.
- Be wary of generic ads with no specific address, vague descriptions, or low-quality photos.
- Conduct Physical Verification & Site Visits:
- Never buy a property sight-unseen. Conduct multiple physical visits at different times of the day to assess the neighborhood, noise levels, and amenities.
- Check the property boundaries against the site plan.
- Speak to neighbors or the building management/association to verify the seller’s occupancy and the property’s history.
- Engage Legal Due Diligence:
- Hire a qualified real estate lawyer to perform a comprehensive title search and verify all legal documents.
- Ensure the property has a clear title, is free of encumbrances (liens, mortgages), and has all necessary municipal approvals (e.g., Occupancy Certificate, Completion Certificate).
- Review the agreement of sale, sale deed, property tax receipts, and utility bills to confirm the seller’s ownership and clear dues.
- Perform Financial & Structural Checks:
- Request a professional structural inspection to identify potential physical defects.
- Verify the property’s market value independently (don't rely solely on the asking price) by checking recent sales of comparable properties in the area.