I am very much interested to purchase an apartment in second sale where the building is under construction and will take two years to complete. The first party has paid 10% amount to the builder and another installment will be due when excavation starts in a month’s time. The first party wants 10% the whole amount as token money. The Builder will give NOC after he gets 30% and is ready to transfer property.
Now I need your guidance for few questions:
If First party asks me to pay 30% to builder then should I pay 30% to Builder?
Or if first party is ready to pay 30% to builder then in both cases what different conditions should I put in Agreement / MOU or Token agreement whichever applicable to ensure legality of this deal in my favor, and do this deal? And I also want my token/advance money to be safe. Please guide.
Vinay
