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Buying a property owner asking to money in very short period
21-Aug-2023 (In Property Law)
Going to buy a property, owner asking for 15% advance at agreement and within one month registration and possession with full payment.. Is it too short time period for payment. What should I do?
You can move on and find another property for purchase. Because in the agreement for sale there must be a time limit and forfeiture clause. If you cannot purchase the property within the time limit then then owner can forfeit the 15% advance money
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Adv. Diptiman Pal
Barasat | 200+ Answers
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period of one month or two months is entirely between the parties. if you are comfortable with one month no problem. for registration you can contact me through lawrato. best of luck for your work sir
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Ask the seller to make it 10% of the consideration by executing an agreement for sale and thereafter full payment will be done on final Deed of Conveyance which can be before or by the date agreed to by the parties
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Adv. Alakananda Das
Kolkata | 100+ Answers
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