Re-allotment of flat to another buyer
I came to know that the flat that i booked was booked by someone else earlier, The LIC approve the loan for the earlier buyer and still have all the original document. Now earlier buyer book bigger apartment in the same society and discuss with Builder on release this flat and transfer the loan to new flat (builder just just told me this but not given any document). I am not sure what discussion happen between them, but now builder booked that flat to me and assuring me nothing will happen in future.
I came to know this when builder is forcing me to go with LIC for loan.
Can some please let me what to do?
- Can i cancel booking, because i have dought that earlier buyer will create problem for me in future.
- Or is there is a process for this and which document should i needed. As far as i know the old agreement is not cancelled yet.
Asked 2 years ago in Property Law from Bangalore, Karnataka
1) was any sale deed executed between builder and original buyer ?
2)if only allotment letter was issued builder can cancel allotment at request of original buyer and sell flat to you
3) ask builder to furnish all documents executed between builder and original buyer
4) then consult a local lawyer and take the call
It is not advisable to book the flat without confirming the cancellation of earlier booking by someone else.
The builder may tell thousand stories to sell the flat but at the time of crisis he may not turn up for your rescue.
What about the property documents?
Have they produce the documents or verbally confirming it?
It is always better to seek legal opinion from an independent advocate before buying or investing into such huge investments.
If you in doubt about the genuineness, you can very well cancel the booking.
Hi, first you have to verify whether builder has cancelled the booking, if the Builder has cancelled the booking then only you can buy the flat other wise you are in trouble.
2. It is my opinion that get a legal opinion from the advocate and proceed further and it is very difficult to give opinion without verifying the documents.
1. Yes you can cancel booking if the conduct of the builder is not so inspiring.
2. Send the builder notice cancelling the agreement and asking for refund.
1. Do not go by the verbal assurances given by the builder as they are not enforceable in a court of law. Conduct due diligence to ascertain if the builder has cancelled the earlier agreement he executed with the previous applicant. If the agreement is still in subsistence the previous buyer can claim rights under it. Alternatively, a tripartite agreement can be executed between the builder, you and the previous buyer wherein the previous buyer agrees to not to make any claims with respect to the property.
2. Only the promises reduced to writing are enforceable in the court.
as per your questing its is better you cancel the deal because you will face a problem unless until previous loan agreement has to be cancelled and fresh agreement of loan has to apply in your name and please read all the terms and condition of agreement between you and builder because so many builder cheat in the name of loan approval.