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House sell and loan process related query
24-Jan-2023 (In Property Law)
I want to sell my house. I have a buyer who agreed to buy.
He paid half amount and for half amount, he has applied for a home loan in CANFIN housing limited.
HIs loan is sanctioned and the bank tells that bank only provide cheque/DD after the sales deed.
Bank will provide Xerox of the cheque so that cheque detail will be included in sales deed underpayment schedule
I have a few questions:
1) What if the bank refuses to give cheque after sales deed.
2) Can we include the safe clauses in sales deed to handle this situation
3) Can we cancel the sales deed if the bank refuses to give cheque after sales deed?
Please gives your expert advice to handle this situation or it is a normal process.
My Response to your query:
1) Bank can't refuse because the registered document is having good value before law
2) you can add clause
3) that's deficult to cancel such deed
you may make correction if require
for detail consultation you can contact me
1) Bank can't refuse because the registered document is having good value before law
2) you can add clause
3) that's deficult to cancel such deed
you may make correction if require
for detail consultation you can contact me
Helpful?
first answer to the question, if the bank refuses to give the cheque after sales deed it is a crime, as the sale deed is executed on the pretext that the bank will provide the rest of the consideration, moreover the agreement must dictate such terms, in normal cases the bank will give the cheque or dd as its business for them. second question yes you can include clause such as compensation clause and termination clause as safeguards for the bank to make good the payment. third question the answer is in the second answer i have given.
Helpful?
Adv. Clerence Pereira
Pune | 25+ Answers
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