I need legal expert advice for sale agreement condition. Please help
I am interested to buy a site in Bangalore. The owner has agreed to sale his site for an agreed amount. However he has put a condition that I need pay 45% of total site amount at the time of agreement. He has a loan against the property. He would be using given money to get his property documents released from the Bank. He also said all the original property documents will be given to me at the time of agreement. I will hold them until the registration. I will need to pay remaining amount at the time of registration. I would like to know if its safe to pay 45% of total amount at the time of agreement or will there be a risk on this?
There will be 15 days of time given to take legal opinion on the property before the agreement.
What are precuationary measures should I take care if there is no risk involved and go ahead with the deal? Please help
Thank you in advance.