House Sale Payment Plan

We are planning to sell our flat where or promoter offered Rs. 55 Lakhs for it. He is proposing to pay Rs. 15 Lakhs in advance and we need to leave the house. He will pay the balance in the next installments. Till the full payment is done, he has also proposed to pay us Rs. 7,000 per month as rent. Should we go ahead with this payment plan? Can we face any fraud from the promoter?

Answers (1)

231 votes
Do get the agreement checked by a local lawyer. To safeguard your interest the whole agreement needs to be prepared or checked keeping various factors in mind.

To protect your interest in case of default of payment do incorporate further penal clause. Without taking help of a lawyer do not sign any agreement.

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