Hi,
I am selling one property currently under loan with ICICI bank. Buyer is going for loan from differnt bank. We went for agreement and as per agreement, buyer should pay complete sale amount on the day of sale deed registration.
In was told by Buyer that ICICI bank will give NOC on the day of sale deed after getting cheque of outstanding amount, but property related documents currently with ICICI bank will be released later.
Now buyer is saying that his bank will hold 10% of the sale amount due to seller after the sale deed till property related documents currently with ICICI bank are not handed over to the buyer/buyers bank. upon receipt of document they will release remaining amount.
There is no written document, agreement or information related to holing the amount is provided from buyer/buyers bank.
Please help me to understand how should I go ahead in this case? What care I should take to avoid any problems in future?
Thanks for help in advance.
