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I am resaling my flat,buyer is taking homeloan
04-Feb-2023 (In Property Law)
I am reselling my flat in Mumbai,Buyer will provide 60 pecent of his money,rest will be bank loan from HDFC.I am told I have to complete my sale deed registration first in buyer name and only when buyer gives that sale deed to bank, along with my original papers to bank for loan disbursal,which will be released only after that.Is it true loan officer isnt present at time of registering such deals in sub registrar office so to handover draft personally.My question is the legal problems,is it safe for such sale deed,without getting demand draft of loan in hand,since isnt it possible I wont get payment and yet sale deed is registered with buyer.Let me know risks in such deal
Well, you should not sell your Flat until you receive 100 % payment from the buyer. It is his lookout whether he gets successful or not to procure loan from the Bank before engaging with you for the Registration of the Sale Deed.
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Adv. Pankaj Bajaj
Mumbai | 500+ Answers
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