Buying Resale Property | Vkeel - Free Legal Advice

RAHUL SINGH

BANGALORE

I am trying to buy a resale property, unregistered, with an outstanding loan of approx 15 Lakhs. It's a new flat in an apartment. The seller told me that he will close the loan with the down payment which I will give. There will be an agreement for this. I am not sure what agreement. Once the loan is closed. I can have the original papers of the flat from the bank. I can take the loan from my bank and pay him the rest of the amount. After that, I can do the registration for the flat. This will be the first registration as the flat is currently unregistered. Please let me know how to proceed on this. Is this safe?

Expert's Answers(3)

Advocate Anik
Bengaluru, Karnataka

66 Client Ratings

Hi, It is best to have a legal professional look into the documents. While the situation is not ideal, you can have the seller execute a guarantee or insert a refund clause in the sale agreement.

December 26, 2020
Advocate J L Naagar
Jalandhar, Punjab

169 Client Ratings

Enter into an Agreement to Sell with the Seller and manage accordingly by raising housing loan from some Bank and finalise the deal. Please give me Rank Five and follow me after reviewing my resume and book a consultation for further discussion and explanation if required.

December 26, 2020
H K Chaturvedi, Advocate Supreme Court.
Noida, Uttar Pradesh

12 Client Ratings

Dear Rahul, In sale- purchase matters, better to take direct help from a lawyer who will scrutiny the records and also will draft proper documents in your favor.

December 26, 2020