Hello ,
I am purchasing a under construction house property for which 16L (20%) payment has been made till date by the seller.I would be paying the same amount (16L) to the seller to transfer the right of acquistion on my name as he feels that he would be unable to pay future installment.
But as per builder, transfer can be made only after 18 months from the date of last payment(made on August 2012) .So roughly the right to purchase the property would be transfered on my name only on January 2014 .In between one instalment would be due which I would pay to seller and the seller would pay to Builder . Seller is asking the amount (16L) now and transfer process would be done only on Jan14 .
So what would be best way to handle this case so that my interest in any way is not jeopardize . Is it better to enter into any kind of agreement and pay the amount(16L) to seller ? Please advise.
Thanking You