I want to buy one property.
Manojkumar Tiwari
(Querist) 23 September 2014
This query is : Resolved
Hello Friends,
I want to buy one flat in Dombivli it is very near to station which comes under KDMC. I have seen on the KDMC portal that society pays all taxes and water bills. I have on concern that the buyer is saying that you can get loan from CO-Operative banks only and not from Nationlized Banks, he is saying that property is in step of convincing with Bank and it will take one year to do. And also he said me that the society doesnot have OC of the building. And also he said me that chain of agreement is missing i.e, the first agreement between builder and First buyer is missing and he is the second buyer and he have the agreement between him and first buyer.
My question is that will bank provide me Home Loan?
And is it fine to buy such kind of flats?
And if i buy this property, risk in future? And to overcome the risk
Thanks and Regards,
Manojkumar
Devajyoti Barman
(Expert) 23 September 2014
The dee to show the proper of chain of title is very vital while purchasing a property.
Since we are not in a position to see the same you better show all the papers to a local lawyer.
Prima facie it seems difficult to get lan on this property.
Manojkumar Tiwari
(Querist) 23 September 2014
But now i got a call from the seller that he have the OC of the property. he too have the first agreement but it is not registered, it is just made in front of witness because it is very old property of 1991 and at that they had not made the registration. he said me to take xerox of the papers and go to bank to check whether you can get the loan or not.
Devajyoti Barman
(Expert) 23 September 2014
You first said that first agreement s now kissing and now you are saying it is unregistered.
Which one is right?
Devajyoti Barman
(Expert) 23 September 2014
It is always prudent to to take advice from lawyer who sees the papers.
Without seeing title papers it is not proper to make any conclusive reply.
Manojkumar Tiwari
(Querist) 23 September 2014
the buyer has said this to me that he have the paper but not registered for first agreement and he is the second owner of the hosue and he have a registered agreement between him and the first buyer but as i said there is no registered agreement between builder and first buyer, he have a hand made agreeement.
1)Builder to first buyer>>>only paper agreement not registered.
2) First to second buyer>> have a original registered agreeement with OC
3)second(current) to me>>>need to do registeration.
please help whether to buy or not
Anirudh
(Expert) 23 September 2014
Dear Manojkumar Tiwari,
Whether you are going to invest your HARD EARNED MONEY, or not?
If it is hard earned money, then better spend some money on the lawyer fee. Consult a local lawyer who is well versed in property law and then take a decision.
It is this sort of trying to save some amount, that you people fall into big trouble and loose your hard earned money and then weep.
Manojkumar Tiwari
(Querist) 23 September 2014
I will do that but just before taking any step i want just some suggestions
Anirudh
(Expert) 24 September 2014
The best suggestion that you should consult a lawyer has already been given.
ajay sethi
(Expert) 24 September 2014
consult a local lawyer . better spend few thousand rupees on legal fees then repent later
Rajendra K Goyal
(Expert) 24 September 2014
The document does not seem to be OK. Apply nationalised bank / SBI for home loan pay their lawyers search report fee. You will get the draw back in documents if any in the documents.
Manojkumar Tiwari
(Querist) 24 September 2014
Thanks all for you help and valuable time.
Raj Kumar Makkad
(Expert) 24 September 2014
Well advised by experts hence no more to add.
M V Gupta
(Expert) 26 September 2014
If u so desire You may call me on my Mobile 7498134906 for necessary guidance. My office is at Andheri(W).
Manojkumar Tiwari
(Querist) 27 September 2014
Thanks you MV Gupta Sir. Thanks for your kind reply. Sure if require any guidance i will call you.
T. Kalaiselvan, Advocate
(Expert) 01 October 2014
The author seems to avail free service and avoids visiting any lawyer fora proper opinion after producing the related papers before the lawyer. Basically, the information that the Builder sold the property based on a mere agreement is wrong, subsequently the purchaser who bought it out of an unregistered sale agreement sold it to another person through a sale agreement is also wrong, now if the author is also trying buy by merely executing a sale agreement is also wrong. A sale agreement will not become a sale deed.
That is why all experts suggested you to consult a local lawyer, have his opinion before purchasing the property, if you want to avoid the expenses, tomorrow you may lose the entire money.
