2. Check if there is a housing society if taking a resale flat.
3. Check both Original documents and also previous sale docs (if any).
4. Give a post dated cheque (of at least one month) and get the documents verified by a qualified property lawyer in the meantime. Indicate to the builder that if you find anything wrong OR change your mind you will cancel the cheque.
5. Check if nationalized banks are lending loans, if not why?
6. Check the efficiency of the house (efficiency is how much carpet area you get, builders will mostly tell you the super carpet area, you need to know the exact area you are getting.
7. For resale flats, must check that previous dues like electric bill, yearly municipal charges for property, society charges etc. are paid.
8. Ask in advance the stamp duties and registration fees you need to pay. Don’t try to save money in this aspect as this will save you from all the troubles.
9. Ask the builder for the full price in writing, many a times the builder will ask for other charges like legal and service charges later. You should be clear about these.
10. If the apartment is under construction, don’t makye the full payments. Prefer partial payments. Remember its mostly better to pay PreEMI’s than to pay the full money and pay EMI’s.
11. Ask the details of all utilities and the fittings in the house.
12. If your budget allows try to take house in a society (instead of taking in a single tower kind of construction).
13. If the builder provides site seeing facility (a cab or any other arrangement), don't hesitate in using that.
Remember that for most buying house is a one time investment, after marriage probably this is the most important decision for a salaried individual. So take you time and don't buy a house in haste.
Don't get intimidated by the builders till you make the payments. Ask any doubt or question you have in detail. Remember once you sign an agreement and make any payments the builder takes your position as the king. So take an informed decision.
All the very best. And please contact me if you want to add any more items in the list.
