Entering agreement & registration

Prakash (Querist) 15 February 2016 This query is : Resolved
what happens in below case, if I don't apply for home loan to buy a flat upto 75 % of of Agreement Cost;

a) IS it ncessary to enter into sale agreement immediatly after booking flat or paying 20% of agreement cost?
b) How long I can prolong the singning of agreement and registration of flat.
c) What are all the risk involved by not entering the sale agreement & registering the property immeadiatly?
d) Is there any obligation to sell me the proerty once I Pay 75% of cost of flat and still there is no sale agreeemnt & unregistered.

Please reply.

Thanks

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Rajendra K Goyal (Expert) 15 February 2016
1. Agreement is preferred for safeguard of your interest.
2. Depend on mutual consent. It is better to enter on payment of token money.
3. Token money paid may be at risk. Sale deed can be executed and registered on a later date.
4. No obligation in absence of any sale agreement.