Can Property Portals Be Trusted Fully? A Comprehensive Guide

Property portals are increasingly becoming essential tools for buyers and sellers in the real estate market. They offer a wealth of information, including listings, market trends, and property values. However, these portals are not infallible, and buyers should exercise caution and conduct thorough due diligence to ensure they make informed decisions. In this article, we'll explore whether property portals can be fully trusted and discuss the steps you can take to verify the accuracy of the information provided.

What Are Property Portals?

Property portals are digital platforms designed to connect property buyers and sellers with real estate agents, developers, and other relevant services. They provide a centralized repository of property listings from various sources, allowing users to search for properties based on location, price, features, and other criteria. While these portals offer convenience and vast information, it's crucial to recognize their limitations and the need for additional verification steps.

Issues with Property Portal Trustworthiness

Property portals, while valuable, do not offer a comprehensive or entirely accurate view of real estate. They may present incomplete information, outdated details, or omit crucial aspects of the properties they list. It is therefore important to approach the information on these portals with a degree of skepticism and to take additional steps to ensure accuracy.

Why Not Rely Solely on Property Portals?

Here are some reasons why you should exercise caution and seek additional verification when relying on information from property portals:

Outdated Information: Property portals often rely on data provided by property owners, agents, or developers, which may not be up-to-date. New developments, changes in property prices, or alterations to the property listing might not be immediately reflected on the portal, leading to discrepancies between the information available and the current reality. Incomplete Details: Some properties listed on portals may not include all relevant details, such as hidden costs, pending legal issues, or historic information. These omissions can be crucial to informed decision-making and may not be readily apparent from the portal. Potential for Misleading Information: Property portals may sometimes present skewed or incomplete information, which can mislead buyers and sellers. For instance, listings might highlight only the positive aspects of a property while omitting important details that could affect the buyer or seller's decision.

Steps for Verifying Property Details

While property portals are valuable starting points, it is always advisable to conduct further verifications to ensure the accuracy and completeness of the information. Here are some steps you can take:

Verify Encumbrances and Past Details

1. Check for Encumbrances: Encumbrances refer to any legal or financial restrictions or claims on a property, such as mortgages, liens, or covenants. Verifying encumbrances is crucial as it ensures that the property is free from any past issues that could affect its value or sale. In most Indian states, online property registrations allow you to verify encumbrances on a property. For example, in Bihar, you can check the Bhumi Jankari website, while in Jharkhand, the eJharkhand portal provides similar services.

2. Check Property Owners: Verifying the ownership details of the property is another important step. You can check the names of the owners registered in the public records. This information can be obtained at the registrar's office or through online services. For example, in Bihar, the government portal Bhumi Jankari will provide you with the necessary information for free. However, in Jharkhand, the eJharkhand portal may require a fee for the same service.

Additional Verification Steps

1. Contact Local Real Estate Agents: Local real estate agents are an invaluable resource for obtaining in-depth knowledge about a property. They can provide insights about the neighborhood, past and current market conditions, and any hidden costs or issues that may not be evident from the portal.

2. Directly Contact Builders/Developers: For new developments or off-plan purchases, it is essential to speak directly with the builder or developer. They can provide detailed information about the project, including future plans, progress updates, and any legal or financial issues that might arise.

Conclusion

While property portals are valuable tools for initiating your search and getting an initial idea of what is available in the market, they should not be considered the sole source of truth. By taking the steps outlined above, you can ensure that you have a more comprehensive and accurate understanding of the property you are considering. Always approach the information provided by property portals with a critical eye and be prepared to seek additional verification to make the best possible decision.