payment before legal confirmation of flat in buyer's name
I am planning to buy a ready to move house in an apartment. The price has been negotiated with the seller. The seller has asked for 3 lakh token amount to confirm the deal post which only he will share the property documents for legal verification. We have also mutually agreed to put the receipt of token money and agreement conditions on a Rs 100 stamp paper. Agreement condition basically defines timeline for remaining payment, penalty clauses to both parties incase anyone moves back from the deal etc My query: 1. Should I pay 3 lakh as token before legal confirmation? 2. If the Rs 100 stamp paper is good enough for making the contract or do i also get it notarised?
Yeah, you need to worry, just make sure that you pay by a crossed cheque, the details of the cheque are mentioned in the agreement and do register the agreement for sale with proper authority. If all these things are done then no issues.
MOU is sufficient to before agreement. But in MOU must be clear terms and conditions about if any legal discrepancy in documents or any property issue entire token amount will return by seller.
MOU get it notarized with register number.
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