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Who doesn’t have a dream of building a house of their own? But in a costly city like Dhaka, it is not possible for everyone to buy land and build a house for high land value. That is why most people opt to buy flats as it is a more affordable option. But as simple as it may seem, purchasing a flat is not that straightforward. Before buying a flat, you must know the location of the flat, its type as well as the legal steps required to close the deal. If you do not have a sound knowledge of the legal steps before buying an apartment, dishonest sellers can dupe you and take advantage of your ignorance. That is why in today’s article we will discuss everything you need to know about the legal steps before buying an apartment.

A man and a woman are discussing
It is important to know all the legal steps before buying a flat

Document Verification

The first step is to check these essential documents (considering you are buying an apartment in Dhaka):

  1. Land deeds
  2. Mutations
  3. City Survey
  4. RAJUK plan of approval
  5. Power of Attorney (if applicable)

These documents must be collected from the seller and verified by a legal expert.

document cheking
Chek all the essential documents

Document verification of leasehold and freehold property

There are two types of properties in Bangladesh – leasehold property and freehold property. A leasehold property is leased from the government or any government agency. And a freehold property is a privately owned property.

Now if you want to buy a leasehold property, you must check the following documents:

  1. Allotment letter
  2. Lease deed
  3. Position letter
  4. Final allotment letter

If you want to buy a freehold property, look for these documents:

  1. Original ownership deed
  2. All bia deed
  3. Deed of distribution (if it is transferred through distribution)
  4. Mutation
  5. Mutation of distribution (if applicable)

Document verification of old property

For an old flat, you must check these documents:

  1. Previous ownership deed
  2. Sell Permission RAJUK
  3. Seller mutations by RAJUK
  4. AC Land Mutation etc.
agreement paper
There are specific documents you need to check when buying old a property

In the case of old flats after 2008, you must collect the occupancy certificate and have it verified by an experienced legal expert. Also, collect the names and professional registration numbers of the architects and engineers designing the architecture and structural design of the building.

Verify the agreement letter from the developer company

If you want to buy an apartment from a developer company, document verification alone is not enough. In this case, you have to thoroughly go through the contract or deed of agreement with the developer company. Because until the registration and mutation are done, this agreement is the only proof of your ownership.

As a conscious buyer, always take the aid of a legal expert. Make sure the terms are clearly stated. The developer company is obliged to show you and give you the approved house plan and design. Make it clear in the contract which flat you are buying, and that they cannot change the flat without your permission. Mention in the agreement that you are not obliged to pay any extra money in any condition.

Contract
Read the contract thoroughly especially the fine print

Under real estate law, within 3 months of your full payment, the real estate developer is required to complete the transfer, execution and registration process. And if a real estate company fails to hand over the flat within the stipulated time, then all the money including the compensation stipulated in the contract has to be repaid within 6 months, make sure that this issue is also clearly stated in the contract. However, if there is no reference to how much to pay as reparation, the amount will be fixed at the rate of 15 percent of the total amount paid according to the law.

Final thought

Be sure to sign the agreement with all these stated in the agreement doing so will allow you to take legal action against the company in case of any subsequent trouble.

In order to take legal steps before buying an apartment, you will need a skilled legal consultant to implement all the steps discussed above. And for that Bproparty Legal Solutions is there to help you go through the legal steps without any hassle. 

Call 09612110011 for any legal consultation regarding property purchase.

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