Termination clause can always be there in agreement for purchase of property. Actually the agreement is executed in mutual parties consent and hence your said clause has to be there. But termination clause can never exist in deed of conveyance that is the deed of purchase of the property. These are two separate things actually. First you check you details with bank whether you are eligible for bank loan. Then you have do the necessary searching of the said property, in order to check whether the property is litigation free to get purchased. Now make an agreement and approach the bank. The bank will again do its searching on its own as their procedure but you will get the loan on their searching report and also on the basis of your solvency. This is the procedure. Reading this may feel hectic but you will be relived from all harassments at a later periodwhen you will be getting the possession of the said flat. Do not do it on your own, rather consult a Ld.Advocate to help and guide you.