Sir from the seller point of view it would be better that an agreement to sale is made and registered. Further there is also loan on property so NOC from bank shall be required and bank shall ask for agreement to sale too.

Make nominal payment of Rs 2 lakhs instead of Rs 8 lakhs as demanded by seller in MOU 

can you please clarify - the seller's loan of 36 lacs is the total loan he took or is it the outstanding loan which he has to repay to his bank?

it is advisable that instead of paying the seller owner, you directly pay his bank the initial amount of 8 lacs towards loan pre-payment and balance loan can be taken over by you (as it is the property is mortgaged with the bank, so any sale transaction in the form of a MOU cannot be made without NOC of seller's bank)

in this way you wont have to freshly apply for a loan

the above is considering that you are comfortable with the loan terms and interest of the seller's bank for the loan

1. As per the information mentioned in the present query, makes it clear that you want to go for this deal anyhow.
2. But, let me tell you that there is a huge difference between the both I.e., Mou is Memorandum of Understanding, it is just a document or a mean for two parties to reach a decision. Its a first stage of formation of Final Formal contract/Agreement. Agreement is any document which is enforceable by Law. You can have substantial rights in Agreement and not in MoU.
3. Though you can still enforce the MOU before the court of law, there is no doubt in it, it just that a higher sanctity is been given to the agreement to sell.
4. Now, you please decide as to how you want to proceed, we are always ready to help you further in future for any assistance.

1) Kindly make MOU of 8 lacs transcations in front of Bank knowing that how seller is going to pay difference amount to bank complete gis loan amount.

It is advisable to not to take any hasty decision while investing in immovable property.

In what way the MOU is going to help the seller?

The registration charges for the sale agreement shall be borne by you and not the seller.

It is not necessary that you have to buy this property urgently, if the seller is not interested an insisting on his own conditions, you can skip the deal, because the MOU cannot be enforced in court of law, in case of any disputes in this regard at a later stage.

In fact there is no justification that the immovable property can be purchased by an MOU entered between the buyer and seller, you cannot solve his interest or any other problem, it is the seller who has to take care of his own problems.

1. It would be highly unwise to execute ANY property transactions in a hurry. There should be proper gestation/cooling period, to see any unseen forthcoming eventualities /problems.

2. Further no point in executing a MOU which hardly has any legally enforceable value. Pay only after the loan amount is transferred by bank to your name AFTER executing proper "agreement of sale". ELSE forget the deal, INSTEAD looking at a futuristic loss.

Keep Smiling .... Hemant Agarwal

1. It is highly unsafe to pay him the money directly and it is not proper also.

2. Since property has been mortgaged with the lending bank, its owner can not sell you the same without the written consent of the bank.

3. You shall have to make a tripartite agreement with the bank, the seller and yourself by which the bank will give consent for the sale and you shall pay the  consideration (the outstanding part of the loan account) directly to the said loan account of the seller and the balance amount to the seller.

Sale agreement is ideal even for getting the loan. You need to register the same. Even Mou has to be registered if it has immovable property transfer