Searching for and buying a new house is a herculean task. In fact many home buyers even have to take out a housing loan to buy a new home. Once we are successful in buying a property, we tend to relax and think that all the work related to the house is done. But that is not the case.
Although checking the property papers and sorting out a home loan are both important aspects while searching and buying a new home, there are several other important things which must be completed after you have bought a new house and these tasks must be completed without any delays. Be it getting those new frameless shower doors installed, or getting the paperwork all sorted, it is all very important.
Photocopy your House Documents
After buying a house, you must take at least 2-3 sets of photocopies of all documents related to your purchase. If you have bought the house on a housing loan, then make sure that you have taken photocopies of all the documents before giving the originals to the bank.
If you have any original documents with you, then store these safely in a bank locker or keep your original documents somewhere else that is safe. Make sure you have 3 photocopy sets of the original documents.
Make a list of documents you have submitted to the bank
From the day you submit the documents for your home loan documentation, make sure to prepare a list of documents you are submitting with the bank. On the day of the registry, you must hand over the original sale deed and other important original documents to the bank.
Transfer utility bills in your name
Immediately after buying a house, transfer the electricity and water bills in your name. During the property registration, get a No Objection Certificate (NOC) for such transfers and take the signature of the previous owner on the NOC at the time of registration. Electricity and water bills in your name are one of the most reliable and authentic proofs of property ownership and therefore it is best to get these documents changed over as soon as possible. You might then want to shop around to see if you can get your utility services for a better price. For example, there are plenty of electric companies in texas that offer competitively priced energy packages for new homeowners. A quick search on a few different utility service comparison websites might be all it takes to secure yourself a better deal.
Transfer property tax records in your name
The next important task after buying a house is to transfer Property tax records in your name. If you are assuming that it will be done automatically along with the property registration, then that is not true. You will have to apply for the change of name and submit certain documents requested by the property office.
Get the society transfer papers
If you have bought the flat then make sure that you get society transfer papers from the building society. Transfer of society papers is done only after the previous owner of the flat pays off all the pending dues and after you pay the registration amount.
Update all your ID card with the New Address
You will have to update your address records like Passport, Banks, Investments, Driving license, Ration card, Voter Id etc. It is always advisable to update your permanent address after buying a new house on all your ID cards.