Hello dear member,
I am in the process of selling my 1bhk flat at mangalore, now buyer shown interest of Rs25 lakhs with full payments without bank loan. I have bank loan of Rs.8.50 lakhs and buyer shown interest in clearing my bank loan by directly paying to bank Rs.8.5 lacs after signing sales agreement of Rs.25 lacs. Bank will deliver the original agreement after 15 days, but buyer demands the possession of the flat on same day after making payments to bank Rs.8.5 lacs with some other payments of 1.50 lacs on same day and planning to make balance balance of Rs.15 lacs after registration of docs means 15 days.
As per buyer, making payment to bank of Rs.8.50 lacs he dont have any guarantee of possession of flat OR original documents registration, hence he need flat possession immediately on part payments.
I feel this method would not be safer for me, some guys suggested to take PDC cheque of Rs.15 lacs, but if buyer deny for balance payments can I do some thing after this process, else pls advise me how to deal such a situation.
Vijaykumar
