Booking a Flat: 8 Checks to Make Before You Pay the First Installment

Booking a flat is usually the first big payment in a home purchase, and it is also the point where most buyers feel the most pressure. A sales representative says the price is valid for a few days, a friend says the area is booming, and the booking form is already on the table. But the checks you skip before paying are very hard to make up after you have paid.

This checklist covers the eight things worth verifying before you hand over any money.

1. Confirm who actually owns the land

Ask to see the ownership documents for the land the building stands on, not only the developer's brochure. Check that the name on the title matches the party selling to you. If the land belongs to a landowner who has signed a joint arrangement with a developer, ask to see that agreement as well, because it shows who can legally sell the units.

2. Verify the building approvals

A building needs approvals from the relevant local authority before and during construction. Ask for the approved plan, and compare it with what you are being sold. Check that the floor count, unit layout and parking match the approved version. If a seller cannot show approvals, treat that as a warning, not a delay.

3. Read the developer's track record

Brochures show what a developer promises. Completed projects show what a developer delivers. Visit at least one finished building by the same developer and look at the common areas, the lifts, the water supply and how well the building has aged. Speak to residents if you can, and ask whether handover happened on time.

4. Understand the payment schedule

Ask for the full payment plan in writing. Each installment should be tied to a clear construction milestone, not just a calendar date. Be careful of schedules that ask for most of the price before the structure is complete. Make sure the plan states what happens if you pay late, and what happens if the developer is late.

5. Check what is included in the price

A quoted price per square foot often excludes items that matter. Ask whether the price includes parking, utility connections, generator backup, common area charges and registration costs. Request a list of extra charges before you sign, so the final cost does not surprise you.

6. Read the specification schedule

The sales brochure shows renderings. The specification schedule shows what will actually be installed: flooring, fittings, doors, wiring and sanitary items. Compare the two. If a feature appears in the brochure but not in the schedule, ask for it to be added to the contract.

7. Know your exit options

Before paying, find out what happens if you need to cancel or transfer the booking. Ask about refund terms, deductions and whether you can sell your allotment to someone else. A clear answer in the contract is worth more than a verbal assurance.

8. Decide between ready and under-construction

The last check is about timing. An under-construction flat usually has a lower price and a staged payment plan, but you carry the risk of delay, and you may pay rent and installments at the same time. Many buyers who need certainty look at ready flats instead, because the layout, light, ventilation and building condition can be checked in person before payment. Whichever you choose, add the cost of waiting, such as rent during a delay, to your budget.

Putting the checks into practice

Print this list and bring it to your next site visit. For each item, write down the answer you received and where you saw the proof. If a seller will not put an answer in writing, count it as a no.

A flat is likely to be one of the largest purchases you ever make. The few days it takes to verify ownership, approvals, payment terms and delivery history are a small price compared with the cost of discovering a problem after you have paid.

About the author: Sonali Sarkar writes about residential real estate, home buying and property market trends for Basic Builders Ltd, a Dhaka-based developer founded in 2005.

Sonali Sarkar writes about residential real estate and home buying for Basic Builders Ltd, a Dhaka-based developer founded in 2005 with 200 completed projects. See ongoing projects: https://basicbuildersltd.com/projects/ongoing