Ravindra K. Banthia (None) 05 May 2010

Pre-sale Agreement to reduce risk

I am trying to buy a flat in Jaipur. The price has been agreed on verbally at Rs 18 lacs.

We are in the final stages.

Lies and lack of cooperation from the seller’s side have left me wondering of the risk involved in the cost of lawyers fees and the substantial Stamp Duty (on Rs. 18 lacs).

Is there a Pre-sale Agreement that we can make, so that I am not left hi & dry after purchasing the stamp papers/franking ? Can we set a time frame within which the Sale Deed must be registered ?

Any advice on how to reduce my risk, would be greatly appreciated.

Ravi Banthia

(B. Tech. IIT Kgp)

Jaipur

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2 Replies

J.VINOTH ( ADVOCATE MADRAS HIGH COURT) 18 May 2010

Mr.Ravindra you can enter into an agreement for sale wherein you can specify the time limit ,amount etc. of your convinience but my advise to you is to approach a advocate in your locality & seek his professional assistence coz generally people get into trouble trying to avoid a profeesional assistence from an advocate.