• Minimum amount to be paid to the seller at sale agreement

Dear Sir, i wish to know the minimum advance amount or percentage against sale value of a property, that has to be paid to the seller or can be demanded by the seller at the time of or before the execution of the sale agreement.
Asked 2 years ago in Property Law from Kolkata, West Bengal
Religion: Hindu
Hi, There is no minimum amount it must be paid as an advance to the Seller.

2. It is all about purchaser and seller agreed to each other.
Pradeep Bharathipura
Advocate, Bangalore
4561 Answers
204 Consultations

4.5 on 5.0

1) you can make payment of 10%of sale consideration as advance . 

2) the agreement for sale should contain a clause as to period within which full payment would be made 

3) there should also be clause for refund or forfeiture of advance money if sale does not go through 
Ajay Sethi
Advocate, Mumbai
46639 Answers
2758 Consultations

5.0 on 5.0

There is no amount fixed by the law. It can even be 1 rupee and as high as the entire sale consideration. This is entirely up to the seller and prospective buyer.
Ashish Davessar
Advocate, Jaipur
23092 Answers
639 Consultations

5.0 on 5.0

There is no specific amount it can be negotiated by the parties,. however it is better to pay minimum amount of advance. 
Minansu Bhadra
Advocate, Kolkata
386 Answers
28 Consultations

4.9 on 5.0

There is no hard and fast rule to decide about the exact percentage of total sale consideration amount to be paid in advance for registering sale agreement. It shall be a decision to be taken on mutual consent between both the parties.
T Kalaiselvan
Advocate, Vellore
36754 Answers
403 Consultations

5.0 on 5.0

Ask a Lawyer

Get legal answers from top-rated lawyers in 1 hour. It's quick, easy, and anonymous!
  Ask a lawyer