Buyer insist registration first,take remnng amt chq(hdfc loan) latter

It is felt that procedure is that buyer shall apply for loan and provide copy of Biana and if loan is sanctioned bank may prepare the DD in favor of seller.

The seller should receive payment before property is transferred in the name of buyer.

The seller should not sell on the conditions being set by buyer.

Valuable advice of learned experts/members is sought.

Is the buyer insisting on registering the sale agreement...? or the conveyance deed ...?

Dear Naveen,

Not even a single bank follow the procedure what you have stated.   Probably, the buyer may insist for registration of sale agreement (as per new amendment in tamilnadu, if you belongs to tamilnadu).  registration of sale agreement made compulsory in tamilnadu from 1.12.2012 onwards.

regards

gopal

9840199577

I''m from AP, Yest buyer insisting on registering the sale agreement.

Then, I don't see a problem. Make sure the agreement mentions a specific time period (ie : 3 or 4 months), before which you will receive the entire sale consideration or else the agreement is null void. This is a very important clause in any sale agreement.

sorry what i mean to say is Registration of my property on buyer name, after that i will get chq from his bank loan, once he submit this details with EC on his name

There is no such procedure. You are being misled. Once you register the buyers name as a sale deed, you lose all ownership over your property.

Thank you very much, He is taking undue advantage because of my financial  problems, As per agreement if date exceeds one month of duration agreement will be canceled, it's already 4 months, but he liittle amount for every 10 to 15 days and also cleared my mortgage after so many requests. we are selling the property because of financial problems but he is taking the undue advantage. Can we cancel the agreement in case he keeps on extends days.

yes. you can cancel the agreement if he does not comply with it. 

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