Paying a token amount is an important step when buying a property. But before handing over your money, take some time to verify the property and the seller.
1. Verify Ownership
Check the seller’s identity and ownership documents. Make sure the person selling the property has the legal authority to sell it.
2. Check Property Documents
Verify the property details, including:
- Plot or house number
- Property size
- Ownership records
- Transfer documents
- Relevant approvals
Make sure the information matches the actual property.
3. Check for Outstanding Dues
Ask about unpaid:
- Property taxes
- Utility bills
- Society or maintenance charges
- Loans or other liabilities
Clarify who will pay any outstanding amounts.
4. Inspect the Property
Don’t rely only on pictures or the seller’s claims. Visit the property and check:
- Walls and ceilings
- Floors and tiles
- Doors and windows
- Bathrooms and kitchen
- Plumbing and drainage
- Electrical fixtures
- Roof and external walls
Look for cracks, dampness, leakage, poor finishing, and other defects.
5. Look for Structural Issues
Pay attention to significant cracks, damaged columns or beams, uneven floors, or signs of settlement.
If you notice something concerning, consider getting a structural assessment before proceeding.
6. Understand the Token Terms
Before paying, clearly confirm:
- Is the token refundable?
- When will the sale agreement be signed?
- What happens if the seller backs out?
- What happens if you cancel the purchase?
- How long will the property be reserved?
Get these terms in writing.
7. Get a Written Receipt
Always obtain a proper receipt mentioning the property, token amount, date, buyer, seller, and agreed terms.
8. Consider a Professional Property Inspection
Documents can tell you who owns a property, but they don’t tell you everything about its physical condition.
A professional property inspection can help identify construction defects, water leakage, drainage problems, visible structural concerns, and other issues before you commit to the purchase.
Final Tip
Don’t pay the token just because the property looks good or the seller is offering a good price. Verify first, inspect first, and then pay.
If you’re buying a property in Karachi or elsewhere in Pakistan, StructSure Pakistan can help you inspect the property’s condition before you make a major financial commitment.
Also Read: How to Check the Quality of a Newly Built House Before Buying or Taking Possession
