Dear Lawyer sirs,
I needed advice on the following:
I am based in Pune and buying a 2BHK flat / apartment. This apartment is in a condominium society. The seller is based in Dubai and has a bank loan from Kotak Mahindra and has been a defaulter since March 2021. I am doing a Agreement for Sale and helping him paying the full and final loan first. After that I plan to do the Sale deed, make the rest of the payment and take possession. Basically doing the full deal in 7-8 days and ask the seller to come down to Pune during this time. Here are the steps I am taking:
1 - Pay the loan outstanding to the seller and same day do the Agreement for Sale.
2- Have the seller close the loan the same day
3- Have the seller pay the pending dues (electric, property tax, society maintenance) the next day or so
4 - take the Loan closure letter (you get it after 2/3 days after loan closure) and submit it to the society for NOC. Use the same letter to attach in the Sale Deed
5 - Execute the Sale Deed and pay the rest of the amount and take possession of the flat.
My BIG QUESTION - Now, the Original documents of the property are release only after 3 weeks. The Seller returns to Dubai after Sale Deed. Can I take an authority letter from the seller and collect these documents myself from the bank? is there any way I can retrieve the documents after the Sale Deed without the Seller. The seller is not willing to come back again from Dubai after the Sale Deed. I have checked with KOTAK MAHINDRA and they said they give the documents only to the person who took the loan. Is there a legal way to deal with this. Please advice