Hi all,
We are planning to buy a landlord share unit in Bangalore. The sq. ft. rate offered by the landlord is way too less than that of the actual builder (an A-line category builder). According to their payment schedule, we should first release 10% of the amount, and then another 75% within 30 days (the total amount is coming close to 1 crore). The rest of the payment is due only after registration, which will potentially be after 2 years once the construction is completed. When we inquired about the legal documents we will receive after releasing the payment, below is the response we received from the real estate consultant who is promoting the landlord units
*Since the land lord is an individual he will give his own receipts of which the signature matches with the legal documents as well , even real estate consulting company(xyz) will give an email confirmation stating that the payment is been received as well.
*Post Allotment letter by 15 to 20 days agreement will be prepared land lord will sign and send it to you for your signatures post that by 30 - 45 days builder will sign and we will register the agreement.
Please advise if there is anything we need to be cautious about before proceeding with this deal as this 1cr is a hard earned money and we don't want to loose it by putting our head into scam.
Regards,
Ann
