1. It is advisable to carry out your due diligence before signing such agreement

2. Take out a search from the registration department through a registered search clerk to know if the property you wish to buy has been sold to any other party by the investor seller

3. Issue public notice in two local newspapers, one English and another Marathi, informing public that you are buying this flat from so and so investor and thus if any person has any claim or objection against the same

4. Get the builder and investor titles verified by a competent lawyer

5. Include an indemnity clause in the agreement in your favour

There should be indemnity clause in sale deed wherein seller agrees to indemnify you in case any claims are made by third party

2) get sale deed vetted by local lawyer

1) All wording is correct just add "WILL" word in it.

2) You can challenge in the court of law if any dispute arise. It will help you the above wording in the agreement.

1) No its easy you can registered in the same registered office that correction deed and mark the same paragraph in bold after adding these two words and get registered.

2) All will be alright don't worry.

See still the sale agreement is only done, so in sale deed the indemnity clause can be made.

That in condition the any third party claaim anu interest in property the seller shall indemnify all the cost.

Further get property title search through a local lawyer if any issue found it can be settled in sale deed or agreement can be cancelled with help of court.

Yes indemnity bond will do of it is not mentioned in sale deed. Further a rectification correction deed can be made whereby you can add these clauses and it can be registered. The rectification deed is considered as part of main sale.deed.

Indemnity clause is must to protect your interests

You can issue public notice after agreement

1. if your loan is approved by bank and flat is mortgaged with that bank, then the bank must have done its due diligence before disbursing loan to you

2. the bank would not want a property as security which has a defective title

3. because ultimately the bank would not want any claims on the property when the bank attempts to liquidate the property to realise its dues in the event the borrower defaults in repayment of loan

4. no point taking indemnity now. Public notice also not required

5. for your satisfaction you can obtain search report from registration department to check if no other third party rights were created prior to the sale of the flat to you

Dear Client,

This is common language use in agreements, even if property under encumbrance otherwise why the genuine purchaser will buy property with head ache.

But including such clause, cast absolute responsibility upon seller if any dispute arise as to title of property, Still you must take all necessary step to pre verify as caveat emptor (buyer beware) before buying something.

No need of public announcement, Get search report ( title search from the origin of property), which banks do before sanctioning loan,

The recitals what you have reproduced in your post are routine in nature and the vendor is obliged to comply with the said commitment.

You may verify other details of the property instead of harping over this routine and petty issue.

the agreement has been done & i was too late for this post.I got to know from society person that this

Is it possible & worth to issue public notice after agreement?

My loan is disbursed from private bank so the search from registration department is required?

Indemnity bond will be ok as there is no INDEMNITY & WILL mentioned in sale deed. It is a tough job for me but i think i will manage this if it is necessary & important.

You should remember the fact that the banks will not disburse the loan amount without confirming the genuineness of the property through their panel of advocates.

Also, nothing prevents you from obtaining legal opinion from your own lawyer.

You are asking this question to this forum without forwarding the set of documents relevant to the property now proposed to purchase.

Sir,

The clauses in the agreement are all valid and binding on the investor.

If you think there is some foul you can address letter to him and or his company.