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Vinoth (xxxxxx)     14 September 2012

Triparty agreement for home loan

Hello Experts,

I am planning to purchase a flat in chennai. The flat is constructed in Joint Venture between owner and builder. Builder construct 8 flats on the land. The agreement between them is 50% UDS (4 flats) for each other.

Builder sold all his 4 flats and owner has only one flat left. i approached owner for that flat. everything is fixed, now i went to HDFC back for loan. They are asking Triparty agreement. Banker told that it is the agreement between Owner,builder and you. Owner doesn't have awareness on this. But he told that we already sold one flat, the buyer is also applied loan without any issue. He (his bank) didn't ask this agreement.

Builder is also replying the same. But Banker is asking this as a compulsory one for loan approval.

Can anybody explain what is the triparty agreement and it is really necessary?

Thanks & Regards,

Vinoth



Learning

 4 Replies

SRIKANTH (junior)     15 September 2012

some cases triparty agreement is necessary.

triparty agreement is, agreement between purchaser, owner and builder.

triparty agreement is compined agrement of sale agreement and construction agreement.

 

sumathy - 9380902010

srikanth - 93281206050

Vinoth (xxxxxx)     18 September 2012

Hi Srikanth,

Thanks for your reply. Can you let me know the cases where the triparty agreement is required?

Regards,

Vinoth

SRIKANTH (junior)     23 September 2012

triparty agreement is not mandatory, some times land owner and builder is different

that case some bankers insisting triparty agrteement.

Vinoth (xxxxxx)     24 September 2012

Okay. Thank you for your answer.

Regards,

Vinoth


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