In the future, a sale agreement is to be promised that the property will be transferred to the rightful owner, while the value of the sale is the actual transfer of the buyer`s property. Signing a purchase agreement becomes important given several factors. First, it is legal proof that the buyer and seller enter into an agreement on the basis of which the future approach will be decided in the event of a dispute. Also, if you apply for a home loan, the bank would not accept your application until you sign a sales contract. However, when buying a resale apartment, a buyer must protect himself by putting all documents in order. Such an important document is a sales contract. While many buyers execute a sales contract, they must take into account certain problems and some workarounds when approaching them. To finance the acquisition of a resale property in which the sales contract was entered into between the construction credit applicant and the current Allotee (to which the developer had originally allocated the property), you must follow: – Is there a way for buyers to protect themselves without having to execute a sales contract? The document by which the title was transferred in the name of the current titleholder is referred to as “Immediate Title Deed (ITD).” No lender is willing to offer a resale of home loans if you do not submit this document. All other documents before the DTI are called chain documents. When the buyer uses a bank loan to buy the property, some banks insist that the sale contract be executed. Since it is a banking mandate, the purchaser has little choice but to continue with him. However, if the bank does not require it, an agreement will provide the security offered by the sales contract without having to pay customs duties in advance. Now, due diligence is crucial when it comes to property-related documents, when you take into account the incidents mentioned below.
The purpose of a sales contract is simple – it defines the conditions under which the sale must be made. It also protects the buyer and seller, in case either return of the transaction. This guarantee can also be invoked through an agreement signed between the two parties. The agreement should list all the terms of the sale and be printed on an Rs.