Selling the property for clearing property dues.
I am planning to purchase a property in DLF New Town Bangalore. The Seller of which is asking for advance payment to be payed as dues to DLF. The possession date is in future and DLF doesn't start the transfer process unless the dues are cleared. Should I go ahead with the property. What can I do to ensure the money I pay as advance is safe & the seller will not run away with the money.
You can make part payment initially and then full payment is installments. However such payments till completion of sale must be supported by detailed terms and condition which 9s called agreement for sale. So in other words if you and DLF enter into a written sale agreement, you can safely make payments as on making full payments the DLF would be bound to register a deed of conveyance.
- Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Property Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Get Started >>