FahadKhan

Agreement For Advance Payment For Purchase Of House

(f) Termination clause: very critical clause specifically in the agreement. A buyer should indicate and define the conditions under which the contract can be terminated and the corresponding repayment clause. Even if the contract is terminated by the seller, then it will be a fine and vice versa. In the event of a legal default of the real estate or a real estate loan for a similar reason, the seller will refund the money of the token to the buyer. 3. You can enforce the agreement in question on a stamp document Rs.500/, (c) Payment details: Mention the mutually agreed counter-value and when it is due by the Buyer to the Seller. For example, 2 Lakh paid as token money, 10 Lakh on the date of the sales contract and balance 68 Lakh paid at the time of sale. According to Greek law, the buyer`s lawyer must be present when purchasing any type of real estate. S/he will check with the notary the final verification of the contract. It is quite surprising that, in some cases, banks insist on advances as part of a real estate agreement. Such cases are contrary to existing rules and regulations. In short, deliberately or unintentionally, banks put the buyer`s money at stake. In other cases, buyers are captured by smart brokers or sellers.

In very few cases, a seller`s intention is to commit financial fraud. I only share very common scenarios. 2. It is not certain to give the advance without an agreement that denies it. The lawyer will verify the property`s ownership status and the number of people who hold property rights there; Ensure that all taxes have been paid; Find out if the property has been mortgaged to a bank, etc. Once it has been established that there is no problem with any of the above aspects, the buyer must pay a down payment. 2) Detailed conditions regarding the price to be paid for the purchase of the site, time for payment, receiving serious money should be included in Agreement B. My sincere advice, do not buy the sales site because the site was done without the conversion of the property. However, if a site is Gramathana, the form No. 9 and 11 of La Grama Panchyath, which is won by the taxman is perfect. You must pay a down payment (based on the value of the property) so that the property you have chosen is withdrawn from the market and the agreed price is set.

A private contract (which will also serve as proof of payment) will then be signed. 2. The agreement should mention the details of the property and all the conditions relating to payment, possession, registration, penalty for delay in the completion of the project, etc., 2) the period during which the sale contract would be valid would be mentioned in the agreement. if the delay. B payment is 6 months and an agreement is terminated in case of non-payment within the agreed time, the duration of the contract is six months . in the event of a full payment, the deed of sale would be entered into by the parties and duly stamped and registered 1.