Original documents

tina (Querist) 27 May 2012 This query is : Resolved
I am trying to sell a Flat in mumbai thats under my name... The buyer has applied for a loan from LIC which has been approved..

I have completed stamp duty and registration process as well as provided society NOC to the buyer..

For the disbursal of the loan from LIC , he is now asking for original house agreement papers so that he can submit this in LIC and get the disbursal cheque...

Is this the right process. Should i be giving my original documents to the buyer even though he has only paid 20% for the property value...?

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R.K Nanda (Expert) 27 May 2012
No, give notary attested copies of documents only to buyer.

Guest (Expert) 27 May 2012
Never give original documents before full & final settlement. Loan by the buyer has nothing to do with your deal. You may follow Shri Nanda's advice for giving copies of the documents.

adv. rajeev ( rajoo ) (Expert) 27 May 2012
You can apply for the certified copy of the sale deed and give it to him.

ajay sethi (Expert) 27 May 2012
you have been paid only 20% of maount . for release of balance 80% LIC must be wanting to verify original documents .

you can state that you are willing to produe original documents for inspection .

after inspection is completed you can give xerox copies duly notarised to buyer .

Nadeem Qureshi (Expert) 27 May 2012
agree with experts

Raj Kumar Makkad (Expert) 27 May 2012
There is no harm to provide original sale agreement to the buyer facilitating him to get bank loan. You have already received the advance money so why to worry only for that purpose. You should not provide your title deed in original but the copies of that document may be duly supplied to him with proper receipt.

mahendrakumar (Expert) 28 May 2012
if you are handing over the documents to the LIC on there demand and get an acknowledgement from LIC,there is no risk.