What are the norms about payment schedule for selling flat
13-Aug-2023 (In Property Law)
I am about to sell a flat in Mumbai and the buyer doesn't need loan. What are the norms about accepting the cheques or online payments of installments in such a case in terms of payment schedule? I am advised that the last cheque is to be accepted on the day of stamp duty and registration of agreement. Is this right?
There is no such particular practice to be followed for accepting payment on sale of flat. It is a commercial call how both the parties feel comfortable. If buyer is ready to give entire payment before execution of agreement then it should be fine, but yes, you should receive the balance payment on payment of stamp duty and execution of agreement, until then you should not sign the agreement. For further assistance you can call me and take my appointment, I will also assist you in drafting agreement and possible to negotiate terms with buyer
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 Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Property lawyers for your specific legal issue
No Comments! Be the first one to comment.
- Varisan certificate process and fees and from where it is applied
- Legal Documentation for Claiming Ancestral Property Share Without Disp
- Agriculture land and house property are two separate entities or singl
- Grandfathers property sold out by the grand daughters.
- Gift deed from mother to son but paid in cash the property value
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."