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Selling of flat - I am selling my self owned flat
2 years ago
I am selling my self owned (no bank loan) flat and have agreed to the sale amount & taken 10% token money. The buyer wants to pay directly through cash i.e. no bank loan. What are the each steps till registration of flat in sellers name and when I should ask the remaining amount
Anupam Shandilya
Responded 2 years ago
A.Dear client,
My advise to you is that you do not take cash instead use other mode of payment.
For rest of the formalities you must get in touch with a property lawyer.
My advise to you is that you do not take cash instead use other mode of payment.
For rest of the formalities you must get in touch with a property lawyer.
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Advocate Sinjari Bandyopadhyaya
Responded 2 years ago
A.To give opinion, it is necessary to know the terms and conditions of such sale as has been agreed by and between the owner and the buyer because if Sale Agreement has to be done then at least 20% of the Sale consideration has to be paid and after necessary searching of documents within stipulated time period Sale Deed is required to be done in registered manner by making payment of rest amount of the sale consideration. If the buyer agrees to make Sale Deed directly without Sale Agreement , then the entire(90%) sale consideration has to be paid prior to registration.
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A.Dear Client
Process has been described below:
1. Verify for encumbrances at the office of Sub-Registrar of Assurances. This can be done by taking a look at the title deed or ownership status of the property such as mortgages or liens.
2. Preparation of the final deed by the buyer's lawyer.
3. Payment of stamp duty.
4. Final deed Execution.
Thanks
Regards
Process has been described below:
1. Verify for encumbrances at the office of Sub-Registrar of Assurances. This can be done by taking a look at the title deed or ownership status of the property such as mortgages or liens.
2. Preparation of the final deed by the buyer's lawyer.
3. Payment of stamp duty.
4. Final deed Execution.
Thanks
Regards
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