Dear team.. I have been offered an under constructed flat on **resale**..Posession in next 18 months. This is what things look like. Please help me in understanding the process.
1. Seller signed a BBA agreement under Rera which is registered
2. Dealer says seller has authorized some investor through some agreement to sell the property.
3. We would be mostly interacting with the dealer and investor and the original buyer may be asked to present if we are willing
4. We will be initially paying 10â„… as token money to the original buyer's account, they will then prepare an agreement to sale and will then initiate the transfer process of the flat post obtaining the noc from the builder.
My question: I am a little skeptical with this investor here as there is no direct interaction with the original buyer. Do investors get involved in such practices where in they get into the agreement with the original buyer to sell properties?
If you are not competent in legal knowledge and have the time to study so many judgments, engage a local advocate as you are taking a risk and staking your hard-earned money. The advocate has to study the documents, study the practice followed by other purchasers, the financier to the builder and his stake, the amounts advanced against such flats by any banker as housing loans etc. Without studying the documents, it is not possible to expect a precise guidance and if someone even offers it becomes an irresponsible one.
