Beware Of These 7 Sales Gimmicks When Buying Your First Home

"Your dream home will look exactly like this model"

It is really hard for common people to understand the blueprints and same with the home buyers. So, to make things easy, developers prepare a model flat for home buyers. This process helps buyers to get an idea of how their dream home will look like.  

But the scenario is quite different in reality. To attract buyers, developers may add lot many amenities while preparing the model flat. And surprisingly those amenities probably will not be included when constructing the actual property. Besides, developers attempt this trick as a part of their sales strategy. When it comes to small-sized model apartments, developers reduce the size of the furniture and instead add bright lighting to create the illusion of bigger space.

"You can take back your payment anytime"

Never take the developers’ word for granted. It’s a known fact that cash-strapped developers mainly focus on the down payment and so, it is very hard to get a refund. Developers know that once you make the payment, it’s not easy to get out anytime sooner. There’s no hard and fast rule that developers follow when buyers cancel bookings. Usually, developers deduct around 10 to 20 percent of the booking amount and returns.

To avoid this situation, read the sale agreement attentively. "Read the document and avoid making any payments or signing documents if you are unsure," said Goenka. "The contract is binding on both the parties, and if any one of them fails to fulfill his commitment, it automatically gives the other party the right to term the contract null and void," he added.

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