Dear Sir,
On 26th April 2013 I have registered agreement for sale for purchasing a flat with the seller. I have paid 20% amount on the day of agreement. As per the agreement I need to pay the remaining amount within 45 days from the date of agreement i.e. on or before 10th June by taking home loan from bank. But my seller created few problems in the loan process (he took 10 days to issue me NOC from society), so the process of bank was delayed. I got a phone call on 6ht June about sanctioning my loan. But as the process of mortgaging and disbursement takes 5 to 6 days I won’t be able to give remaining amount on 10th to my seller. I discussed with my seller he also agreed to give me some more days, but I have doubt whether this will create a problem? Will it be ok if my home loan disbursed after the ending date of agreement for sale?
Please guide me as soon as possible.
