For each real estate transaction, the maximum risk is borne by the borrower. Even experts agree that all real estate transactions carry a certain risk. From the buyer`s point of view, it is very important to protect your interests before signing under the tip line. I list 5 most critical clause that should be included in Property Sale Agreement to protect the buyer`s interests. Under power of attorney, the owner of the property instructs another part to take care of the property, usually for the sale of the property, while the property and the property are retained by the owner. 10. This Contracting Party No. 1 cannot in the future violate any of the terms of this agreement if it does not have the right to enforce the agreement by a competent court through an action for practical benefit or otherwise at the expense, risks and consequences of Part 1. Advertising and displaying your property. This usually includes photographing your property, creating plans and writing your ads online. Under contract. Both the seller`s lawyers and the buyer`s lawyers and banks will develop the details of the sale to ensure that both parties meet all legal and financial requirements, followed by the settlement date.
For the establishment of ownership documents: the seller must provide for the examination of all the title documents in his possession. A purchase agreement is an agreement to sell a property in the future. This agreement sets out the conditions under which the property in question is transferred. Under the Indian Registration Act of 1908, any interest transfer agreement must be registered on property worth more than 100 rupees. Therefore, if you purchased a property for sale as part of an agreement without a good state of sale, you will not receive any right or interest in the property that would be transferred under the sale contract. The delivery of items must be completed when the seller hands over the property to the buyer or the person he is directing. The charge is a “mortgage or other charge on a property, or the fact that a property has a mortgage, etc.” The buyer is required to disclose facts, which significantly increases the value of the property, Section 55, paragraph 5, point a) of the act states that “the buyer is required to know to the seller any facts of the nature or extent of the seller`s interest in the buyer, but of which he has reason to believe that the seller knows nothing and which substantially increases the value of such an interest” must also receive a copy of the approved planning plan and the act of occupation of the competent authority. The sanctioned plan highlights the covered area, construction area and open space of the land. This is a detailed framework plan for real estate sanctioned by the competent authority. Regarding the disclosure of a material defect: the seller is required to inform the buyer of a defect of ownership or property.
(c) The buyer`s home loan is refused by the bank due to a legal/legal issuance of real estate/real estate documents The seller is required to pay all fees and rents, taxes or government fees up to the date of purchase. In the case of a rental property, the owner of the property transfers the property to the property and his property for a specified period and the owner is called the owner and the other party, the tenant. The property and property are automatically transferred to the lessor at the end of the rental period. The object: the sale can only be the subject of IMMOVABLE PROPERTY, in accordance with article 54 of the law. Immobilizing objects can be tangible or immaterial. Material property is a property that can be affected, while intangible property relates to property that cannot be affected, such as a fishing right, a priority right, etc.