I want to buy a property on Big biana, but papers of seller are not Ok yet [assume it is airavenue, Or LDA area pending NOC, or House with Bank loan or Askari X, E Block pening NOC]
In this case what is safest approach to buy I need the comments of experts on these issues as disputes on heavy Biana are frequent. Especially when property value increases after Liabilities are gone.
1. Should I demand future dated Cheque from seller [writing only MOU stamp paper and giving original to each party]
2. Would it be safe to pay most of ammont and get this deed registered in Court? Though it will cost me court Fees ilke 2 to 3% Of Total amount.
Or there is some other safe way.
In past I left amny deals like abpove examples most of them were at attractive beargain prices but I being overseas buyer was not sure that 2nd Party will not be exploiting the situation.
FRIEND replied on Tuesday, November 2, 2010 07:30 AM
DON T JUMP SAME KIND ITS BETTER FOR YOU............................ |
DXB replied on Tuesday, November 2, 2010 07:59 AM
Bro,
If you are an overseas then please dont take these kind of risks. |
Ahmad Raza replied on Wednesday, November 3, 2010 04:05 AM
Im my opinion, if you sign an agreement (two originals) and get this registered with local registrar, then there should not be a problem. Please mention a time frame for final allotment in your name in the contract.
Before that you need to compare the cost of registering Biana agreement(2-3% of biana) and actual bargain you are getting from the deal. |
