Seller not provided mortgage noc

Ashvin Rajpurohit (Querist) 06 June 2021 This query is : Resolved
I had purchased a flat for which i had applied a bank loan. After having part agreement the seller is not able provide me mortgage noc for my loan. He is saying the society is not providing him & he had applied in society Registrar. It has been already 60 days after part agreement & the time period in agreement was only 45 days to clear the payment to the seller.
I had paid 5lac during part agreement & the total deal is 60lac

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You've entered into an agreement to buy a flat, paying a significant deposit, but the seller is unable to provide the necessary mortgage NOC from the society. This delay, exceeding the agreed timeframe, leaves you with options to either pursue registration or cancel the agreement and seek a refund. It's advisable to consult a local lawyer with all your documents to understand your rights and the best course of action, considering potential pandemic-related delays.

Dr J C Vashista (Expert) 06 June 2021
You have the option to get the property documents registered in your name as well as cancel the agreement and refund of the amount paid by you.

What do you want i.e., whether to get NOC from society for registration of sale documents or refund of earnest money paid to the vendor ? Accordingly issue a legal notice to the seller of the property.

It is better to consult and engage a local prudent lawyer for appreciation of facts / documents, professional advise and necessary proceeding

Ashvin Rajpurohit (Querist) 06 June 2021
The seller is ready to cancel the agreement but he is saying only to return paid amount & not the expenses of lawyer, registration fee, bank processing fee & brokerage or he is saying to wait for noc as it was 2 months of covid lockdown.

Sankaranarayanan (Expert) 06 June 2021
Then ask him to give by writing the cause of delay that it was delay because of Pandemic situation and the noc will be provided within 2 months. for this situation you be keep patience some more days.

Ashvin Rajpurohit (Querist) 06 June 2021
The broker is telling me that after part agreement registration i have 50% ownership of the flat & can ask for compensation to cancel the agreement.

Sankaranarayanan (Expert) 06 June 2021
Without see the records we can not give opinions. so better to show all the paper and records to local lawyer and find the solution at your earliest.

T. Kalaiselvan, Advocate (Expert) 06 June 2021
You have not yet purchased the property.
You have just entered into an agreement with a time limit specified in the sale agreement by giving a token advance amount or part of sale consideration amount.
The delay in getting NOC was not intentional or wanton by the seller and irt may be due to unavoidable circumstances.
You have the options of either waiting for the seller to procure the NOC by extending the time limit ort to cancel; the agreement entered with him for non production of valid documents hence he was not ready to perform his side of contract.
You can decide ry wide covid restrictions, there are chances for delay in such issues, since it is not a very urgent issue, you cannot take any immediate legal action also through court of law.

Dr J C Vashista (Expert) 07 June 2021
What is covenanted in the agreement with respect for "refund" and "NOC" mortgage the property for availing loan facility from the Bank? Show the agreement to a lawyer.

You may issue legal notice for specific performance of contract through a local lawyer

ashok kumar singh (Expert) 09 June 2021
agreed with views of earlier experts, therefore no further comments, so far.
thanks

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