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Sale of independent house is sale agreement mandatory
01-Nov-2023 (In Property Law)
I want to sell my house. Is agreement to sell a prerequisite to sell or, can we directly register the sale with the registrar on receiving full payment. The buyer is insisting on agreement to sell as he wants to avail of a bank loan. Who is responsible for drafting the agreement- buyer or seller?
Sale agreement is not mandatory but it's optional.
If the buyer wants to obtain a bank loan in order to purchase the property then the bank will insist for an agreement for sale to grant a loan on the said property.
All the drafting charges and cost of the stamp paper will have to be borne by the buyer as it is at his request.
If the buyer wants to obtain a bank loan in order to purchase the property then the bank will insist for an agreement for sale to grant a loan on the said property.
All the drafting charges and cost of the stamp paper will have to be borne by the buyer as it is at his request.
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Adv. Praveen Pinto
Mangalore | 25+ Answers
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