Here is a step-by-step guide on how a seller can make sure its processes are transparent when selling a plot:
Obtain all necessary documents:
The seller should ensure that all the necessary documents related to the plot are in order and up to date. This includes the ownership documents, land title deed, survey plan, and any other relevant approvals or permits.
Be transparent about the plot details:
The seller should be transparent about the plot details such as the location, size, boundaries, and any known issues such as encumbrances or disputes.
Disclose any known defects or issues:
If there are any known defects or issues with the plot, the seller should disclose them to the buyer. This could include issues such as environmental concerns, zoning restrictions, or legal disputes.
Be clear about the pricing:
The seller should be transparent about the pricing of the plot and provide a clear breakdown of all costs involved, including any taxes, fees, or commissions.
Use a third-party mediator:
To ensure that the process is fair and unbiased, the seller can use a third-party mediator, such as a lawyer or real estate agent, to handle the transaction. The mediator can help to ensure that all parties involved in the transaction are treated fairly and that the process is transparent.
Provide a written agreement:
The seller should provide a written agreement that outlines all the terms and conditions of the transaction. The agreement should include details such as the price, payment terms, and any warranties or guarantees.
Allow for due diligence:
The seller should allow the buyer to conduct due diligence, such as verifying ownership and checking for any legal or environmental issues. The seller should provide access to all relevant documents and information to facilitate this process.
Maintain open communication:
The seller should maintain open communication with the buyer throughout the transaction, providing updates and answering any questions that the buyer may have.
In summary, to ensure that the processes are transparent when selling a plot, the seller should obtain all necessary documents, be transparent about the plot details and any known defects or issues, be clear about the pricing, use a third-party mediator, provide a written agreement, allow for due diligence, and maintain open communication with the buyer.
