Checklists

Tick the YES/NO appropriately. If Yes, Rank it from 1 to 5 for the satisfactory level
1 Check the car for low smoke emission
2 Original parts
3 Air-conditioning
4 Centralized locking system
5 Music system
6 Power steering
7 Automatic window system
8 Taxes paid
9 Test drive at various speeds
10 Keep the windows shut and music off, and listen to any unusual sounds coming from the car
11 Is the mileage ‘X’ Kmph as he claims
12 Is the Service easily available
13 Spare parts availability
14 Sturdiness
15 Reliability
16 Dents, scratches
17 All the gaps between the body panels should be of the same width & even along the entire length
18 Rusty Spots
19 Does the color of different panels match? Is it re-painted in some part alone
20 Excessive tire wear
21 Premature corrosion - To discover repaired corrosion spots try to stick the magnet at the most common places where the corrosion starts - around wheel arches, lower door panels, etc. If the magnet won't stick - there is no metal under the paint, only the body filler
22 Alignment problems
23 Noisy wheel bearings
24 Cracks on the windshield
25 Broken lenses
26 Faded mirrors
27 Worn wipers
28 Worn tires
29 Missing wheel covers (hubcaps)
30 Missing spoiler
31 Body chas - Balance
32 Brake lines
33 Fuel lines
34 Doors - Open the driver's door and try to lift it up on the hinges. The hinges should not have excessive free play
35 Trailer hitch - If the car was used for towing a heavy trailer, the engine and transmission may be excessively worn
36 Look at the reflection - it is perfect, no ripples and paint quality of all panels looks the same.
Try to check the entire car this way. Ripples indicate possible body repair

Papers: Specific Items
1 Is it the Model, he promised
2 Is it really Limited Edition (if any)
3 Is he really a second owner
4 Maintenance bills
5 Service records
6 Warranty receipts for tires
7 Batteries
8 Vehicle Insurance
9 Is the insurance extended for Owner
10 Transfer of Insurance for Vehicle - Value
11 Transfer of Insurance for Owner - Value
12 RTO - Records for clean chit for the vehicle
13 Car history report
Previous accidents
Rolled back odometer
Railed emission test
Flooding
14 Any pending hypothecation for the Vehicle

Mechanic's View/Suggestion Comments/Remarks/Reason
1 OK - Can be Accepted
2 NOT OK - Problematic

Checkpoints at the Time of Take Over Document Name
1 Is it thoroughly serviced as promised
2 NOC
3 Name Transfer - RC Book
4 Insurance Transfer
5 Emission test
6 Charges expected
7 All Related Docs

1. Fixed
a. Rate of Interest ______________
b. Truly Fixed [YES/NO]_________________
c. If revised, how frequent is it? _____________
d. Availability for 20 yrs ______________________
2. Float
a. Rate of Interest _________________
b. Availability for 20 yrs _____________________
3. Switching Cost
a. Number of times allowed to switch _____________
b. Cost for switching ___________________
4. Prepayment Charges _____________________
5. Foreclosure Charges ______________________
6. Amount Eligible _______________________
7. Monthly reducing Balance [Yes/No] ________________
8. Necessary Docs
a. _____________________________________________________
b. _____________________________________________________
c. _____________________________________________________
d. _____________________________________________________
e. _____________________________________________________
f. _____________________________________________________
g. _____________________________________________________
h. _____________________________________________________
9. Processing Fee /Login amount _____________________________
10. How many days will take to get processed ___________________________
11. Already taken a home Loan
a. Impact of the existing Loan _______________________________________________
12. Will the loan amount be immediately available after it is sanctioned [YES/NO] ____________
13. Will the loan amount be disbursed only after our consent [YES/NO] _____________________
14. Risk Coverage
a. Fire & Personal Accident Insurance
b. Risk coverage 3rd Party
15. Interior Loans
a. Things that can be covered like wardrobe, showcases, chimneys, AC, fans, geyser etc.,
b. Interest rate
16. Is it mandatory to complete the 15% initial payment before the disbursal of the loan starts?
17. In case of any issues like sudden government projects proposed on the evaluated site, can I cancel my loan? If so, the procedure.
18. In case after bank verification of the project is over and the bank finds that all the legal docs are in order along with the NOC for the project issued by the govt. suddenly one day the govt announces a project proposal that includes the evaluated site. So, the builders and the other owners of the site has filed a petition objecting the same. They also expect the proposal to be cancelled and a new NOC to be issued. In that case can I put my loan on hold?
19. I’m living in one state say, Karnataka. And I’m purchasing a house in another state say, Maharashtra. I have applied for the loan from your bank in the Karnataka branch. Now for the registration, the bank has transferred the first installment of the disbursal amount to your bank branch in Maharashtra. Due the above mentioned reasons (Q17, Q18) the registration gets postponed. And the bank has not actually disbursed the amount to the builder and the maount is still with your bank branch in Maharashtra. Will I be still billed for the Pre –EMI?
20. In case after the registration, if the builder runs off with the saledeed or loses it, how will the bank help me to retrieve/rectify the same?

Labels: bank, checklist, housing, loan