DELIVERY OF ORIGINAL DOCUMENTS
KVR VENKATESAN
(Querist) 14 October 2009
This query is : Resolved
A Sale agreement is enetered and the buyer has paid a token advance. To pay the balance amount he wants to avail bank finance. For this, he is asking us to provide the original documents to be submitted to Bank. My question is, without getting full payment and registering the documents in favour of the buyer, whether we can give the original documents? Whether the buyer can deceive us by taking the Originals
Khaleel Ahmed
(Expert) 14 October 2009
You are advised hereby, you need not handover the original documents at this stage. The certified xerox copies of the documents is enough to check your title by the banker.Further you are advised hereby keep the physical possession of your property with you. The Original documents and the delivery of the possession will be handed over at the time of receipt of the balance of full consideration agreed as pert the terms of your agreement.
Raj Kumar Makkad
(Expert) 14 October 2009
Agreement to sale supported with certified copies of the clear and marketable title of the seller over the agreed to sold property is sufficient for the buyer to avail the finance from any of the financial instiitution and no need seems to handover him original title documents.
Sachin Bhatia
(Expert) 14 October 2009
Dear KVR VENKATESAN, these days bank provides loans on Sale agreements, the xerox copy of the original title deed is sufficient to check the title of the property. It is advises that the Original documents and the delivery of the possession will be handed over at the time of receipt of the balance of full consideration.
KVR VENKATESAN
(Querist) 15 October 2009
I AM VERY THANKFUL FOR THE PROMPT WAY IN WHICH THE ISSUE IS RESOLVED. MANY THANKS...KVR VENKATESAN
