GUIDE-TIPS-CHECKLIST for Real Estate Housing Buyer's in Dhaka,Bangladesh:

(initiative for awareness on purchase right & legal agreement(Terms & Conditions) for flat/apartment in BD)
Are you planning to buy a flat in Dhaka, BD? Purchasing an apartment here in Bangladesh is not an easy task. One wrong step can drag you to lifelong pain. Write it in your checklist, you definitely need legal advice/suggestion to buy apartment in Dhaka, if you are not really good at understanding legal documents either in English or in Bangla. Formalities are safeguard for both side. At least consult with one associated with housing business. Best will be one works for sale recovery section of a Developer(except the one you intend to buy from). Most of us did not take and are suffering as well. Here we are going to discuss only the legal issues for awareness and for selfhelp. A group or forum or association of flat/apartment buyers or owner to discuss housing problems would be great. We don't have much online discussion or document. All you'll find are the sites of developers with lucrative offer to hook you up to just signup with booking money. We learned from our real world experience in exchange of payment & pain. With the hope of less difficulties (pay & pain) for you, we are here to indicate the problem areas of real estate & housing sector in Dhaka, Bangladesh from the point of view of buyer.

The bigger(higher profile) the Developer (or real estate project) the more you should be careful as it will be more difficult to enjoy (and even have) your rights. Make sure you are not Buying a Property with a Rental Agreement. Be aware of Developers! You've the right to know what you are buying. Don't listen to them that everyone signed so you don't have to be worried, this is just a standard formality. I'm telling you, there is no standard, not in real estate business of Bangladesh, no consumer right protection system. You will see it yourself if you just read the draft agreement from your developer. Your standard is what you sign. Real Estate & Housing Association of Bangladesh is known as REHAB. I don't have any knowledge of any protection by REHAB for buyers.

Deed of Agreement is a complex document, you alone may not be capable of understanding the complete document. Take your time, and this document is the only thing that can help to protect your right & money. I can not assure you, but you'll not regret and at least will not find yourself as an educated fool who can sign only. Developers are much more powerful than any individual like you. Thousands knocked the door of court but failed to help themselves because of signing agreement without knowing what they agreeing. So take your time. Get ready, collect data from different developers (if possible from the selected area) and stock your energy for a lengthy bargain and to increase your capacity. You have to show a lot of patience but you can negotiate. Just remember, "the more you pay, the more you loose control and the more developer gains it". One easy solution is to buy ready flat/apartment (i.e ready to handover) with instant registration and handover. You may feel like you are paying extra but try a calculation and don't miss the weight of giant hassle and waiting..

Visit for guide, help, tips as The first home buyer's checklist. Things You Should Know Before Buying an Apartment.

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