1) enter into registered agreement for sale

2) it should mention the time within which balance payment is to be made by you

3) there should be clause that if seller refuses to execute regd sale deed within time mentioned in agreement you would be entitled for refund of money paid with interest at 12 per cent

4) get agreement drafted by lawyer

Ask the NRI to give a local address for the agreement along with his present one.

mention both the address in the agreement and register the same with the registrar of assurances (Sub-Registrar)on mutually agreed terms and conditions.

Make sure you will fix a date to conclude the transaction be registering sale deed.

If the NRI not turned up for registration of the sale deed file a case for specific performance of the agreement.

yes you can proceed with sale agreement.

mention a point in Terms and conditions if NIR or you failed to perform the sale agreement some amount should be given as compensation

if you paid the money and the NRI tries to settle the property to someone means you have to file a specific performance suit together with permanent injunction :) thanks

Hello sir , the agreement to sell shall be, notarised by the notary in the presence of both the parties .. The notarised agreement holds a legal authenticity in court and both the parties remain bound by the terms and condition of the agreement..2)The agreement shall be having a clause where the buyer has a right to get the registration done in his name through court of law , in case the seller refuses or fails to execute sale deed ..There will be other clauses in the agreement supporting and protecting the legal rights of the buyer ..you can consult me at my office in Gurgaon , for drafting of agreement and execution of sale deed ..thanks

Dear Client,

Before buying property, make sure of clear title and if any disputer in the property.

1) Shall we get the agreement to sell registered at Court? If Yes/No, Why ? - Agreement to sell registered at sub registrar office. this way property will be under deemed mortgage and u will be in position to seek court remedy against owner to honor agreement in case of default.

2) What are the options available to me in case the seller does not turns up for registration of the sales deed or defaults ----- put default clause acc to ur ease. or contact for draft agreement.

3) what are the precautions that I need to take while entering into this deal with NRI - PAN card,

Buyer should first obtain TAN under section 203A of the Income Tax Act, 1961 before deducting TDS. TAN can be obtained by applying buy filling up the Form 49B. This form is also available online. Buyer should also have his own PAN number and PAN number of the NRI seller.

TDS must be deducted at the time of making the payment to the NRI. The information about the TDS being deducted and the rate at which it was deducted should be mentioned in the sale deed between the NRI seller and the buyer.

It is advised that you enter into a registered agreement for sale mentioning thereupon the time schedule, where the clause for cancellation and termination is also given.

It is further advised that you get the same drafted from a lawyer so that the legal angle is taken care off.

Regards

1. Yes, for securing your transaction/deal, it is necessary that the Agreement to sell is registered and duly stamped.

2. In such an eventuality, you may file a suit for specific performance.

3. Be strong with the documentation.

1. If you cannot pay the sale consideration amount upfront, then you may enter into a registered sale agreement with the vendor by paying the requested amount towards advance of the sale consideration amount.

2. You can sue him with a suit for specific performance of contract.

3. Take a legal opinion from a lawyer about the genuineness of the property and the relevant documents before paying any amount.

1)for NRI on sale of property TDS is to be deducted at 20.66 per cent if it is long term capital gain

2) wife also needs PAN card

1 % percent of consideration to be deducted by purchaser.

Seller has a joint NRO bank account in his wife's name. He has his PAN number but not his wife. will it work --Not mandatory for NRI to have PAN Card. Refer rule 114 c.

You may have to deduct 20% of the sale consideration as tax before making the net payment to seller.

You should not be bothered about the seller's problems, you can make the payment by cheque or DD to the vendor and should not worry about his joint account or any account.

TDS under section 195 is deducted on the long term capital gains @ of 20.6% if the property has been held for more than three years.

Regards