Don't Fall for These 4 Real Estate Traps
Bangalore: Nowadays to sell projects, developers are coming up with innovative marketing strategy to entice home buyers. Sometimes for a home buyer, buying a house costs them their entire savings for life. So, it is important to be careful when planning to buy a house as developers set many traps in the market to attract buyers.
1) Pre-EMI sharing schemes
The meaning of pre-EMI sharing schemes is when taking a home loan, it get disbursed depending on the construction stages. This means home buyers do not have to pay EMIs on home loan till the construction is getting over as well as getting the possession in hand. But, home buyers have to pay the loan interest from the first disbursement. Adding to it, several developers choose pre-EMI sharing scheme where they pay this amount for a period of normally 24 months, reports Amit Shanbaug of Economic Times.