Tips for Buying Property in India

With swift infrastructure development and growing residential complexes, properties in India are selling like hotcakes. Check out our tips for buying property in this country. 

Whether you are thinking of buying a commercial or a residential property in India, make sure that you follow a few of these tips to get the best rates and services-

Planning and research

Consider this- Do you want a property for long term basis? Do you wish to rent it or sell it after a few months or years? Before you go ahead and invest, make sure that you answer to these questions. Take in consideration the reason for your purchase and the kind of area you would want for the property. Locations, including metropolitan cities, suburban areas can be great for residential properties, while commercial property in Gurgaon, Faridabad, Gandhinagar, Greater Mumbai and Pune are selling like hotcakes.

Search a Franchise

Having a costly property dealer won’t do you any benefit, particularly because they have a limited range of options to choose from. This is where searching a franchise on internet can be helpful. Check out franchises that have a vast range of cities and locations included in their search list. Choose a real estate company that deals with both commercial and residential properties. This will help you select between wider options.

Affordability

What may appear affordable to you might be costly for others and vice-versa. Therefore, before you go ahead and think about buying a property in India, make sure that you have a clear idea about your affordability. Market status of the property should also be taken into consideration. So, decide beforehand about whether you want a new construction, used, re-built or coming soon property.

Check legal documents

On a number of occasions, real estate companies can make you a fool by offering things that they don’t have. So, make sure that you check all legal documents from the seller. If you can’t do that, pay a lawyer to help you. Check whether the building is registered and its layout is approved by the government. Also, in case of a second hand or used property, check that there aren’t any outstanding liabilities or mortgage on the property,

House Inspection

Never ever buy a commercial or residential property without inspecting it on your own. Don’t hurry to make the payment, rather visit the site at least two times so that you don’t miss out any underlying issues. Make sure that the facilities like electricity, water, parking, location and safety are all taken care of.

Get an apartment

If you want a residential property in metropolitan cities like Gurgaon, prefer for an apartment. It not just guarantees you safety, but also ensures that you have a choice between single, double or three and even four bedroom homes. This way if you like a particular building, you can choose it and customize it in accordance to your requirements. Plus, issues like electricity and water woes are less prevalent in apartment culture.

Follow these tips and you can also have a property of your dreams. 

Real Estate: A Technology Trauma

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Yes you read it right! Technology is the all-pervading presence in our lives including our very own real estate. The nearest our industry has come to technology is: flashing smart-phones and no it’s not because you use the smart-phone as a smart-phone. It is but a status symbol. I guess I am being too harsh. For the slightly more tech-savvy listing on a few “popular” portals and subscribing to a hundred different groups is what they do!

Yes my friend you did use technology-EUREKA! The real question is what did you GAIN out of it? The answer probably left you with what I call “Technology Trauma.”  It affects those who don’t understand this mammoth thus don’t use it or use it but don’t get the gains.

 

There is a lot to technology but here we will cover a few common ones. We shall have more posts taking in each aspect in detail. The problems:

  • Property websites: Lack of MLS system makes it difficult to check if the property is genuine. www.remax.in follows the MLS system which most of the other portals did not do.
  • Google Broker Groups: Number of Broker Groups available without a proper filter system. At Remax India, there is a huge network of Brokers and that too in your city. It covers almost all of the major cities in India.
  • Popularity on Search engines: Huge number of property websites with few genuine hits on each. Again you have an advantage with www.remax.in which could be easily searched through various search engines like Google and Bing.

 

 

So how do we solve this problem?

Property websites: Identify key websites which work for you and bring in genuine enquiries, www.remax.in is an ideal. Look at the latest updates and follow selected members of the site.

Google broker groups: Analyze whether the group will serve any purpose. What do you wish to gain from the group. On joining a group for the next few days monitor the activity on the group and decide whether to actively follow it. Broker groups available on Remax India site without a lot of search.

Save time and don’t list on every website you come across. Spend that time actually following quality. “White noise” is a problem of too much information and we need to identify the right sources to give and take information.

Keep a lookout for our post on using technology to plug lead leaks!

 

 

Expectations from a Real Estate Agent

RE/MAX Agents

Buyer expects the following things from a Real Estate Agent.
1. Choice: When a buyer goes into a real estate broker’s office – the single biggest thing that he expects is more inventory. He wants a choice of homes from which he can select which one is best suited to his needs, wants, concerns and requirements.

2. Agent’s Time: A buyer expects the agent to give more of his time to him since for him it is the single biggest transaction of his life. He expects the real estate agent to leave all work and focus on the transaction on hand.

3. Right Guidance: As a buyer, a person expects the Real Estate Agent to know far more about property & transaction than he himself and so he expects the right guidance to come from the buyer.

4. Saving of his time: The profile of today’s real estate buyer is changing. His decision making is fast and he expects things to move faster as he has become impatient. Looking into this, he expects the agent to do all the possible homework for him enabling him to do the transaction faster. 

 

Best Real Estate Consultancy Company – 2012

+RE/MAX India winner of “Best Real Estate Consultancy Company” Award for the year 2012 by Brands Academy at the NDTV Profit ASEAN-SAARC Real Estate Awards 

Best Real Estate Consultancy Company - 2012

RE/MAX is India’s Largest Real Estate Brokerage Network

Joining RE/MAX is a life altering decision. A decision that will change your life for good. You could become a Broker Associate, a Broker Owner or a Master Regional Franchise and become a premier member of the global Real Estate brokerage community.

BROKER ASSOCIATE • The backbone of the system and the face of RE/MAX in the market • He/she takes home the maximum major share of the profits and pays a nominal desk fee

BROKER OWNER: • Owns a Broker Office and incurs minimal operational cost • Recruits & Retains Broker Associates who form the sales team of the office • Charges desk fee from associates and also earns a substantial part of the commission • Earns profit on volumes: more the number of associates, more the profits

MASTER REGIONAL FRANCHISE: • RE/MAX has 37 regions in India • 22 are operational while 15 open for sale • A Regional Franchise owner also earns profits on volumes: more the number of Broker Offices and Broker Associates in his/her region, more the profits

LOOKING TO BUY/SELL A PROPERTY? BECOME A CUSTOMER If you are looking for a property in India, check it from Thousands of property listings on our website http://www.remax.in If you have a property to sell, you can get advised by our experienced brokers in your city. All you need to do is to search for a RE/MAX Agent near your locality from our website and contact him directly for your Real Estate needs.

RE/MAX – REAL ESTATE MAXIMUMS  Business with a difference. The unique RE/MAX organization structure is designed to make maximum profits reach those who deserve it the most. It is an inverted pyramid, in terms of money share, as opposed to a conventional pyramid of any business organization which essentially means that in a regular company 90% of the profits stay with the top brass whereas at RE/MAX it is exactly the opposite. Here, maximum income is retained at the Franchise-Broker level; only the balance 10% is passed on upwards in the hierarchy. It is the Broker Office and the agents working in it who will take home maximum commissions and profits.

* Type REMAX and send it to 53456 to join the India’s Largest Real Estate Brokerage Network.

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