• Purchase a resale flat in which society is not formed

I want to purchase a resale flat from owner who purchased it from builder/developer , I have copy of agreement however how to identify difference between agreement and sale deed , as I read on net that sale deed is compulsory . Do I need to ask owner first execute sale deed with builder/developer and then execute sale deed between me and owner .
owner is not having any loan on property , and I am taking loan from axis bank and they said you directly execute the sale deed.

Also suggest what terms and conditions I must include in my sale deed executed between me and owner.
Asked 3 years ago in Property Law from Pune, Maharashtra
is the agreement duly registered ?has seller paid full consideration to builder ?  is builder willing to transfer flat in your name .? 

 please note that if society has not yet been formed builder would demand exhorbitant amount as transfer charges . settle issue with seller as to who will pay the transfer charges . if you are taking loan from axis bank they will do due diligence and cross check whether papers are in order .
Ajay Sethi
Advocate, Mumbai
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it is not necessary to ask builder to execute sale deed with seller first . builder can execute sale deed in your favour
Ajay Sethi
Advocate, Mumbai
27413 Answers
1490 Consultations
5.0 on 5.0
builder has no power to sell car parking slots . as far as terms and conditions in sale deed builders generally refuse to incorporate changes suggested by buyers . check when possession is being delivered . whether he will pay interest for delayed possession or not . get sale deed clauses vetted by a local lawyer
Ajay Sethi
Advocate, Mumbai
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Has the agreement between builder and owner registered? Has the owner been authorized expressly to sell the property? Is there any clause in the agreement which mandates the consent of the builder before the owner can transfer the property to you?
Ashish Davessar
Advocate, Jaipur
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507 Consultations
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The sale deed need not be made between the owner and builder. Since you are going to purchase the property the sale deed is to be made in your favour by the seller subject to the agreement between the builder and owner.
Ashish Davessar
Advocate, Jaipur
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507 Consultations
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Hi, it is better contact any local advocate to verify the property documents.....
Pradeep Bharathipura
Advocate, Bangalore
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149 Consultations
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it is better you meet local  lawyer personally   with copy of sale deed to be executed between you and the seller . if construction has not yet been completed there is no question of giving you possession letter and building completion certificate . 

it is better to spend few thousand rupees on legal fees than repenting later .
Ajay Sethi
Advocate, Mumbai
27413 Answers
1490 Consultations
5.0 on 5.0

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