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Less Due Diligence Required



Less Due Diligence Required - The comparison between owning a property in secondary market or resale vs. directly from the developer, you have a few things to keep in mind. The Resale properties are properties that someone had bought earlier from the developer and is now selling in the secondary market. In such cases, you are required to have two extra steps added to the Due Diligence Process.


The first extra step is to establish the identity and the credibility of the seller and the second extra step is that of establishing the credibility of the deal itself. In other words, you need to make sure that the person you are buying from is credible and that he or she hasn't taken a mortgage or gotten into an agreement prior to your agreement with that person.


On the other hand, if you are buying directly from Emaar, you have less due diligence to worry about and it definitely allows for more peace of mind. Considering the credibility of Emaar is already well established being a global real estate player with consistent deliveries and quality services along with requisite RERA approvals amongst other building plan approvals etc. On the other hand specific to the property that you are acquiring, you are more at peace because the banks and mortgage lenders have already gone through the entire due diligence process for you to own a property and also enjoy mortgage facility. Also the fact that you become the first allottee of the property with cleaner paper work.

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