query about disbursement of home loan

C.A Alok Mukherjee (Querist) 15 June 2011 This query is : Open
I am looking for buying a property from the owner of a one storied house who under an agreement to sale will construct the next floor on top and will transfer me the ground floor on completion. For this some amount will be paid to him as advance say Rs 5 lakh and the balance amount will be repaid to him against the bank loan. Now on inquiry we came to know that the bank loan will be repaid on transfer of property i.e on the date of registration of property. My question is as a buyer what are the risks i should cover because actual possession of the property will be done at a later date. I am bit confused please help me out.

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