Old Booking Vs New Booking File Plots?

Property Updates Real Estate Trends
#1

Dear respected forum members, I am a little curious to find out why people prefer new booking rather than buying an old plot file and are willing to pay extra money for new booking file.

I have mostly bought old files from owners. I have realised over the years that new booking is a lot expensive than the initial booking and why do people prefer the newer one? Is it because they have better chance when it comes to balloting for possession or something? Can someone outline the pros and cons of each below and which one you would prefer: - initial booking (old) - new booking

#2

Mostly because on the old booking people ask more profit/own money than the new booking so they are left with no chance. Another benefit they get is they don't have to pay lum sum, they will pay in installments in new booking plus file will be opened on their name. I will personally prefer a new booking but if the price suits me, if i am getting old booking in less price i will surely go for that.

#3

Thanks Nasir saab. I generally go for old booking from owners providing its cheaper (very rare its more expensive than new booking eventhough some sellers demand crazy profit) that have kept them open files anyway. To me it doesn't really make much difference other than the price between the old booking and new booking.

But I suppose your right, people prefer to buy new booking as it would suit them by paying instalments especially nowadays prices are pretty steep in the real estate in places like Islamabad and Lahore!

#4

Anyone else who would like to share their views of what you think and what you prefer and why?

#5

In my point of view it depends upon the type of buyer. Normally guanine buyer who is not well aware of the property prefer to buy from some reliable authority rather than person/dealer. One common man can think that why person is selling in low price than the new price offering the society, so there is chance of any type of fraud and any other issue.

#6

Yes Rana good point made, That's an interesting point taken. Similar type of scam happened in Soan Garden when they switched name as allegedly buyer bought an old file which was so called fake or whether double booked...unsure...only Allah knows.

But as you said, they would rather pay that expensive price for peace of mind!

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